Actions of the board its staff and the federal reserve

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Federal Reserve Release

H.2

Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

No. 25 Week Ending June 17, 2000

Board of Governors of the Federal Reserve System, Washington, DC 20551

H.2 Board Actions

June 11, 2000 to June 17, 2000

Testimony And Statements

Commodity Futures Modernization Act -- statement by Mr. Parkinson, Associate Director, Division of Research and Statistics, before the Subcommittee on Risk Management, Research, and Specialty Crops, House Agriculture Committee, June 14, 2000. - Published, June 14, 2000

Merchant banking proposals -- statement by Governor Meyer before two subcommittees of the Senate Committee on Banking, Housing, and Urban Affairs, June 13, 2000. - Published, June 13, 2000

Bank Mergers

The Chase Manhattan Bank, New York, New York -- to merge with Chase Bank of Texas, Houston, Texas, and thereby establish branches. - Approved, June 14, 2000

Banks, Foreign

Dresdner Bank AG, Frankfurt, Germany -- request for temporary exemption to retain an investment in Fresenius AG, Bad Homburg. - Granted, June 14, 2000

International Operations

Wells Fargo Bank, N.A., San Francisco, California -- to establish a branch in Hong Kong. - Approved, June 12, 2000

Regulations And Policies

Information security standards -- request for comment on proposed interagency standards for safeguarding customer information under the Gramm-Leach-Bliley Act. - Approved, June 12, 2000

Retail credit policy -- revised interagency Uniform Retail Credit Classification and Account Management Policy to guide financial institutions in classifying or writing off delinquent loans and credit lines. - Published, June 12, 2000

(AC) = Addition or Correction

Board - Page 1 of 2

H.2 Board Actions

June 11, 2000 to June 17, 2000

Enforcement

The Bank of New York, New York, New York -- order of prohibition against Lawrence Michaelessi, a former employee and institution-affiliated party of the bank's Rochester branch. - Announced, June 14, 2000

(AC) = Addition or Correction

Board - Page 2 of 2

H.2 Actions under delegated authority

BS&R C&CA FOMC

Banking Supervision and Regulation Consumer and Community Affairs Federal Open Market Committee

RBOPS IF

OSDM

June 11, 2000 to June 17, 2000

Reserve Bank Operations and Payment International Fiance Office of Staff Director for Management

Bank Branches, Domestic

Richmond

Bank of the Commonwealth, Norfolk, Virginia -- to establish a branch at Old Dominion University, 5201 Hampton Boulevard. - Approved, June 14, 2000

Atlanta

Colonial Bank, Montgomery, Alabama -- to establish a branch at 305 Church Street, Huntsville. - Approved, June 14, 2000

Richmond

First Virginia Bank-Colonial, Richmond, Virginia -- to establish a branch at Lakewood Manor, 1900 Lauderdale Drive. - Approved, June 14, 2000

New York

IBJ Whitehall Bank & Trust Company, New York, New York -- to establish a branch at 320 Park Avenue. - Approved, June 15, 2000

Chicago

Libertyville Bank & Trust Company, Libertyville, Illinois -- to establish a branch at 495 W. Liberty Street, Wauconda. - Approved, June 16, 2000

Bank Holding Companies

Chicago

Antioch Holding Company, Antioch, Illinois -- to acquire shares of Lakes Region Bancorporation, Inc., Third Lake. - Returned, June 14, 2000

(AC) = Addition or Correction

Delegated - Page 1 of 9

H.2 Actions under delegated authority

June 11, 2000 to June 17, 2000

Bank Holding Companies

St. Louis

BancorpSouth, Inc., Tupelo, Mississippi -- request for waiver in connection with the proposed acquisition of First United Bancshares, Inc., El Dorado, Arkansas, and merger of First United's eleven subsidiary banks and one trust company into BancorpSouth Bank, Tupelo. - Approved, June 16, 2000

Chicago

Bankoelwein, Inc., Oelwein, Iowa -- to become a bank holding company through the acquisition of Community Bank of Oelwein. - Approved, June 15, 2000

Atlanta

City Savings Bancshares, Inc., DeRidder, Louisiana -- to become a bank holding company through the acquisition of City Savings Bank & Trust Company. - Approved, June 12, 2000

Atlanta

FGB Bankshares, Inc., Hammond, Louisiana -- to become a bank holding company through the acquisition of First Guaranty Bank. - Withdrawn, June 16, 2000

St. Louis

Franklin Bancorp, Inc., Washington, Missouri -- to become a bank holding company through the acquisition of Bank of Franklin County. - Approved, June 16, 2000

San Francisco

Greater Bay Bancorp, Palo Alto, California -- to acquire Bank of Santa Clara, Santa Clara. - Approved, June 14, 2000

Philadelphia

Harris Financial MHC, Harrisburg, Pennsylvania -- relief from commitments. - Granted, June 13, 2000

(AC) = Addition or Correction

Delegated - Page 2 of 9

H.2 Actions under delegated authority

June 11, 2000 to June 17, 2000

Bank Holding Companies

Atlanta

Horizon Bancorporation, Bradenton, Florida -- modification of a commitment. - Approved, June 12, 2000

St. Louis

Lima Bancshares, Inc., Lima, Illinois -- to retain shares of East Dubuque Bancshares, Inc., East Dubuque, and its subsidiary, East Dubuque Savings Bank, and thereby operate a savings association. - Approved, June 14, 2000

Richmond

MCNB Holding Company, Inc., Welch, West Virginia -- to become a bank holding company through the acquisition of McDowell County National Bank in Welch. - Approved, June 15, 2000

Minneapolis

Minnwest Corporation, Minnetonka, Minnesota -- to acquire Minnwest Bank Sioux Falls, Sioux Falls, South Dakota, a de novo bank. - Approved, June 12, 2000

San Francisco

Pacific Capital Bancorp, Santa Barbara, California -- to acquire San Benito Bank, Hollister. - Approved, June 12, 2000

San Francisco

Pacific Capital Bancorp, Santa Barbara, California -- to merge with Los Robles Bancorp, Thousand Oaks, and thereby acquire Los Robles Bank. - Approved, June 12, 2000

Chicago

PrivateBancorp, Inc., Chicago, Illinois -- to acquire The PrivateBank, St. Louis, Missouri. - Approved, June 14, 2000

(AC) = Addition or Correction

Delegated - Page 3 of 9

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