Corporate Applications:

IN THIS ISSUE:

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Bank Organization and Structure. The list of CRA Ratings is from the Communications Division. For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Public Information Room, Mail Stop 1-5, Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to FOIA-PA@occ.treas.gov. You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package. This helps us to process single requests based upon your citation in a more timely manner.

Interpretive Letters

Letter No.	Topic
935	Letter concerns a bank's program to hedge risks arising from bank permissible, customer-driven derivative transactions. WORD 05/14/2002
936	Letter concludes that 12 CFR 9.18 does not mandate the frequency of admissions and withdrawals from collective investment funds, and that a bank, as trustee, may allow participant withdrawals from a collective investment fund solely at the bank's discretion, or when a participant becomes ineligible to continue as a participant in the fund. WORD 05/122/2002
937	Letter concludes that Bank may engage in customer-driven, cash-settled financial intermediation transactions where the payments between parties are based on the price of electricity, and hedge risks arising from these permissible banking activities, provided the Bank has established an appropriate risk measurement and management process for its electricity derivative and hedging activities. WORD 06/27/2002

Corporate Decisions

Letter No.	Topic
2002-08	Application to conduct a share exchange by First National Bank of Midland, Midland, Texas. (Control Number 2002 SW 12 0015), WORD 05/15/2002

Approvals with conditions enforceable under 12 U.S.C. 1818

Letter No.	Topic
523	Application to undertake an ownership restructuring of Access National Bank, Chantilly, Virginia. (Control Number 2002 NE 12 0076), WORD 05/16/2002
524	Application to establish a new national bank with the title of "Infinity Bank NA," West Palm Beach, Florida. (Control Number 2001 SE 01 0012), WORD 05/21/2002
525	Application to change the head office location of Talbots Classics National Bank from 6 Blackstone Valley Place, Lincoln, Rhode Island, to 4 Blackstone Valley Place, Lincoln, Rhode Island. (Control Number 2002 MW 07 011), WORD 05/22/2002
526	Application by First National Bank, Folkston, Georgia, to establish a branch at 5225 Abercorn Street, Savannah, Georgia. (Control Number 2002 SE 05 0055), WORD 05/22/2002
527	Application to merge The Guernsey Bank, a Federal Savings Bank, Cambridge, Ohio, into Peoples Bank, National Association, Marietta, Ohio. (Control Number 2002 CE 02 011), WORD 05/29/2002
528	Application to undertake an expedited reorganization of Mountain National Bank, Sevierville, Tennessee. (Control Number 2002 SE 12 0059), WORD 05/30/2002
529	Application to establish a new national bank with the title of "Granite Community Bank, National Association," Granite Bay, California. (Control Number 2001 WE 01 007), WORD 05/30/2002

Charters with standard condition

Each of the following charter application(s) were approved with a standard condition enforceable under 12 U.S.C. 1818 that requires the bank to provide notice and obtain OCC’s non-objection in advance of any significant deviations or changes from its business plan or operations.

Letter No.	Topic
530	Application to charter The Right Bank for Texas, N.A., Houston, Texas. (Control Number 2001 SW 01 0003), WORD 05/10/2002
531	Application to charter Worthington National Bank, Arlington, Texas. (Control Number 2002 SW 01 0002), WORD 05/14/2002
532	Application to charter First National Bank of Lexington, Lexington, Kentucky. (Control Number 2002 CE 01 003), WORD 05/17/2002

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2002-52, 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 May 14 through June 15, 2002.

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, Mailstop 3-2, Comptroller of the Currency, Washington, DC 20219.