Corporate Applications:
August 1999
Vol. 12, No. 8
IN THIS ISSUE:
PLEASE NOTE: Interpretive Letters and No Objection Letters reflect the views of
the Comptroller's legal staff. Corporate Decisions and Decisions (CRA) are from
the office of Bank Organization and Structure. The list of CRA Ratings is from
the Communications Division. For copies of the evaluation, you should contact
the bank directly or the Office of the Comptroller of the Currency, Attn:
Public Reference Room, Mailstop 1-5, Washington, D.C. 20219.
Members of the news media are encouraged to cite the letter number when
reporting or summarizing documents from this package. This helps to process
single requests in a more timely manner.
Interpretive Letters
Letter No. | Topic |
863 |
Letter concludes that the creditworthiness of individual borrowers is not
determinative in applying the loan aggregation rules in 12 CFR 32.5(c)(3) to
ascertain whether borrowers are engaged in a common enterprise to acquire more
that 50 % of a business enterprise. 07/22/99 |
864 |
Letter confirms that bank insurance agency, appropriately located in a "place
of 5,000," may solicit and sell insurance in the manner permissible for
insurance agencies generally in the states of Illinois and Michigan and as
authorized by the agency's insurance licenses in. 05/19/99 |
865 |
State bank seeks confirmation that it may pool cash collateral held pursuant to
securities lending agreements into common trust funds. 05/26/99 |
Corporate Decisions
Letter No. | Topic |
99-17 |
Application by Sapelo National Bank, Darien, Georgia, to purchase and assume
the Brunswick, Georgia branch of Republic Bank, Federal Savings Bank, St.
Petersburg, Florida. (Control Number 99 SE 02 0028), 03/26/99 |
99-18 |
Application to merge Navigation Bank, Houston, Texas, into SouthTrust Bank,
National Association, Birmingham, Alabama, under the charter and title of
SouthTrust Bank, National Association. (Control Number 99 SE 02 0033), 07/07/99 |
99-19 |
Application of First Bank and Trust, Groves, Texas, to merge with and into
SouthTrust Bank, National Association, Birmingham, Alabama. (Control Number 99
SE 02 0038), 07/28/99 |
99-20 |
Applications by InterBank, National Association, Elk City, Oklahoma; Bank of
Oklahoma, National Association, Tulsa, Oklahoma; First National Bank and Trust
Company of Weatherford, Weatherford, Oklahoma; and First Fidelity Bank National
Association, Oklahoma City, Oklahoma, to establish branches based on 12 USC 36
and the branching authority of savings and loan associations chartered by the
state of Oklahoma. (Control Numbers 99 SW 05 0106, 107, 111, 122, & 124),
07/28/99
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99-21 |
Application of First National Bank, Orangeburg, South Carolina, to purchase
certain assets and assume certain liabilities (The Hardeeville and Ridgeland,
South Carolina branches) of Carolina First Bank, Greenville, South Carolina,
under the title and charter of First National Bank, Orangeburg, South Carolina.
(Control Number 99 SE 02 0039), 07/29/99 |
99-22 |
Application by Popular Inc. to charter a national bank with the title "Banco
Popular, National Association," Orlando, Florida and the application for Banco
Popular, National Association to purchase certain assets and assume certain
liabilities of the Culebra branch of Banco Popular de Puerto Rico, San Juan,
Puerto Rico. (Control Numbers 99 NE 01 0005 & 99 NE 02 0007), 07/30/99 |
99-23 |
Application to purchase certain assets and assume the liabilities of the Pratt
branch of Intrust Bank, National Association, Wichita, Kansas, by First
National Bank in Pratt, Pratt, Kansas, under the charter and title of First
National Bank in Pratt. (Control Number 99 MW 02 0023), 08/11/99 |
99-24 |
Applications of KeyCorp and KeyBank, National Association, Cleveland, Ohio to
charter an interim national bank, for the interim bank to acquire certain
branches , including the purchase of certain assets and the assumption of
certain liabilities associated with the branches, from KeyBank and for approval
to merge the interim bank with and into KeyBank. (Control Numbers 99 CE 02 0024
& 025, 99 CE 02 0107 & 108), 08/11/99 |
Approvals with conditions enforceable under 12 U.S.C. 1818
Letter No. | Topic |
317 |
Application of First Tennessee Bank, N.A., Memphis, Tennessee, to participate
in a joint venture real estate tax reporting and management services. (Control
Number 99 SE 08 021), 07/19/99 |
318 |
Application of National Bank of Commerce of Birmingham, N.A., Birmingham,
Alabama, to participate through an operating subsidiary in a joint venture
conducting residential mortgage lending services. (Control Number 99 SE 08
0011), 07/21/99 |
319 |
Request by Michigan National Bank to acquire ownership interests in Checkfree
Corporation from Integrion Financial Network, L.L.C. (Control Number 99 WO 08
0013), 07/26/99 |
320 |
Request by National Bank of Commerce of Mississippi, Starkville, Mississippi,
to establish an operating subsidiary for the purpose of acquiring two insurance
agencies. (Control Number 99 SE 08 0025), 07/28/99 |
321 |
Application of Bank One, National Association, Columbus, Ohio, to acquire a
noncontrolling interest in a limited liability company through an existing
operating subsidiary. (Control Number 99 ML 08 008), 07/28/99 |
322 |
Request by First Union National Bank, Charlotte, North Carolina, to acquire
through an existing operating subsidiary a 50% voting interest in a limited
liability company engaged in title insurance agency and loan-related
activities. (Control Number 99 ML 08 007), 07/30/99 |
323 |
Application by Merchants Bank of California, National Association, Carson,
California, to elect the corporate governance provisions of California law and
complete a reverse stock split in accordance with those provisions. (Control
Number 98 WE 12 124), 08/10/99 |
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number
99-77
, announcing the availability of enforcement actions. Copies of the final
actions are available by writing to the OCC, Public Reference Room, Mailstop
1-5, Washington, D.C. 20219. When ordering, specify the appropriate enforcement
action number.
COMMUNITY REINVESTMENT ACT (CRA) Performance Evaluations Enclosed is a list of
CRA performance evaluations that became public during the period of
July 15 through August 14.
INTERPRETATIONS AND ACTIONS is published monthly by the Office of the
Comptroller of the Currency. Subscriptions are available at a rate of $175 per
year by writing to the Comptroller of the Currency, P.O. Box 70004, Chicago, IL
60673-0004. Prepayment is requested. Suggestions, comments or questions may be
sent to Jacqueline J. England, Communications Division, Comptroller of the
Currency, Washington, DC 20219.
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