Corporate Applications:
September 1997
Vol. 10, No. 9
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 |
|---|
| 794 (rev)
| Interagency CRA letter stating that an investment in an MBS bond that is specifically
tailored to an institution's CRA requirements appears to be a "qualified investment"
under the CRA regulations. [footnote # 2 has been revised.] (08/11/97)
| | 795
| Letter discusses whether examiners would favorably consider under CRA the activities
of two community development corporations that the bank intends to form. One CDC
would purchase equipment to be used by low- and moderate-income handicapped
individuals, primarily elementary and high school students and the other would be
established to acquire real estate that would be leased to a social service agency for use
as a transitional house for low- and moderate-income immigrants, dispossessed
individuals, families under stress, etc. (08/14/97)
| | 796
| Letter states that arrangement in which Bank A's customers may deliver deposits to
Bank B via independent messenger service for credit to their accounts in Bank A, and
make withdrawals in same manner, is a correspondent service, not branching. (08/05/97)
| | 797
| Letter provides broadly applicable guidance about how examiners would evaluate a
financial institution's investment in notes of a fund established to improve business and
commercial opportunity for economically disadvantaged individuals or business.
(09/02/97)
| | 798
| Letter states that if an unrated security is held, accounted for, and reported for CRA
purposes by a financial institution as a loan or loan participation, the institution may have
it considered under the CRA regulations' lending test. (09/03/97)
| 799
| Letter provides broad applicable guidance pertaining to the treatment under the CRA
regulations of financial institutions' participation in funds, such as the one described,
which would invest in certain businesses. (09/03/97) | |
Corporate Decisions
| Letter No. | Topic |
|---|
| 97-77
| Application to merge Stockmens Bank, National Association, Martins, South Dakota,
into the Stockmens National Bank of Rushville, Rushville, Nebraska, under the charter
of the latter and with the title of "Stockmens National Bank;" (Control Number
97MWO20061), (09/04/97).
| | 97-78
| Application of Zions First National Bank, Salt Lake City, Utah, to purchase certain
assets and assume certain liabilities of the Coalville and Price branch offices, located in
the state of Utah, of Wells Fargo Bank, National Association, San Francisco, California;
(Control Number 97WE020022), (07/02/97).
| | 97-79
| Application of First Tennessee Bank, N.A. to establish a new operating subsidiary
through the acquisition of Federal Flood Certification Corporation; (Control Number
97SE080025), (07/11/97).
| | 97-80
| Application for San Angelo National Bank, San Angelo, Texas to purchase certain
assets and assume certain liabilities of Texas Commerce Bank, San Angelo, National
Association, San Angelo, Texas, under the title and charter of San Angelo National
Bank; (Control Number 97SW020042), (07/31/97).
| | 97-81
| Application to merge Great Lakes National Bank Ohio, Hamilton, Ohio, with and into
Great Lakes National Bank Michigan, Ann Arbor, Michigan, and a corresponding
request from Great Lakes National Bank Ohio for a reduction in capital; (Control Number
97MW020049), (08/13/97).
| | 97-82
| Application of Zions First National Bank, Salt Lake City, Utah, to purchase certain
assets and assume certain liabilities of the Logan, North Lagan, Cedar City and St.
George branch offices, located in the state of Utah, of Wells Fargo Bank, National
Association, San Francisco, California; (Control Number 97WE020023), (09/03/97).
| | 97-83
| Application to relocate the Denair branch of Delta National Bank, Manteca, California,
from Denair to Turlock, California; (Control Numbers 97WE070010), (09/03/97).
| | 97-84
| Applications of First Western Bank, National Association, New Castle, Pennsylvania;
(Control Numbers 97NE050133, 97SE020036, & 97SE020037), (09/05/97). |
Approvals with conditions enforceable under 12 U.S.C. 1818
| Letter No. | Topic |
|---|
| 253
| Application to charter Compubank, National Association, Houston, Texas. (Control
Number 96WO010003), 08/20/97
| | 254
| Application of Citibank, N.A., New York, New York to establish an operating subsidiary
to invest in and become a member of MECA Software, L.L.C. (Control Number
97ML080016), 08/21/97 |
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number 97-83, 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
August 15 through September 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 73150, Chicago, IL 60673-7150. 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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