R. Kinney Williams - Yennik, Inc.
R. Kinney Williams
Yennik, Inc.

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Bank Regulatory News

March 1998

OCC - March 31, 1998 - OCC Issues Loan Portfolio Management Guidance
WASHINGTON, DC -- With the goals of improving overall portfolio management, reducing potentially dangerous credit concentrations, and enhancing the quality of bank lending decisions, the Office of the Comptroller of the Currency (OCC) today issued its first
comprehensive loan portfolio management guidance.

Applications Bulletin - Federal Reserve Bank of Dallas week ending March 27, 1998
LCNB Bancorporation, Inc., Houston, TX, to acquire LCNB Bancorporation of Delaware, Inc., Wilmington, DE, and Langham Creek National Bank, Houston, TX
LCNB Bancorporation of Delaware, Inc., Wilmington, DE, to acquire Langham Creek National Bank, Houston, TX
Thomas Peters, et al, Walnut Strings, TX, to acquire an interest in Southwestern Bancshares, Inc., Glen Rose, TX
Notice by Wellington State Bank, Wellington, TX, to increase its investment in bank premises

March 27, 1998 - Texas Banking Commissioner Catherine A. Ghiglieri announced that in recent months the "Nigerian Advance Fee Fraud" schemes have resurfaced in Texas.

FDIC - March 26, 1998 - INTERNET ACCESS TO RULES AND REGULATIONS
The electronic Rules and Regulations service includes the complete text of the Federal Deposit
Insurance Act, FDIC regulations and source notes. Policy statements approved by the FDIC
Board of Directors, selected General Counsel opinions, legal advisory opinions, consumer laws and regulations related to banking, and selected Federal Reserve regulations also are part of this electronic service.

March 26, 1998 - U.S. Appeals Court Upholds OCC Ruling Assessing $250,000 Penalty
WASHINGTON, D.C. -- An order by the Office of the Comptroller of the Currency (OCC)
assessing a $250,000 civil money penalty against a former banker was upheld by the U.S.
Court of Appeals for the District of Columbia, the OCC announced today.  The penalty was assessed against Charles R. Vickery, Jr. for his actions in 1991 as senior chairman of the First National Bank of Bellaire in Bellaire, Texas.

FDIC March 26, 1998 - YEAR 2000 INTERNAL COMPLIANCE - FDIC Internal Year 2000 Compliance Activities
The impact of the Year 2000 date change on the FDIC’s business operations and what steps the Corporation is taking to solve potential Year 2000 problems are of interest to FDIC-supervised institutions, depositors and the general public.

FRB March 26, 1998 - For immediate release
The Federal Reserve Board has voted to move from a system of contemporaneous reserve requirements to one where reserves are maintained on a lagged basis.  The change will go into effect with the reserve maintenance period beginning July 30, 1998.

FRB March 24, 1998 - For immediate release
The Federal Reserve Board today announced a clarification of the operating standards relating to customer disclosures of section 20 subsidiaries of bank holding companies.   The clarification is effective March 27, 1998.

March 24, 1998 - Comptroller Voices Concern over Lending Study
WASHINGTON, D.C. -- The OCC expressed concern today about the implications of a study on lending practices conducted by the Fair Housing Council, which tested 72 Washington-area mortgage lending institutions to determine whether minorities were subject to illegal discrimination in the pre-application process.

March 24, 1998 - FDIC ANNOUNCES 1997 FINANCIAL RESULTS
The Bank Insurance Fund (BIF) earned $1.4 billion in 1997, according to an FDIC management report on the Corporation's unaudited financial statements. The Savings Association Insurance Fund (SAIF) had net income of $0.5 billion for the year.

Applications Bulletin - Federal Reserve Bank of Dallas week ending March 20, 1998
H B Financial Corp, Highlands, TX, to acquire H B Financial Corp of Delaware, Wilmington, DE, and Highlands Bank, Highlands, TX
H B Financial Corp of Delaware, Wilmington, DE, to acquire Highlands Bank, Highlands, TX

FDIC March 18, 1998 - YEAR 2000 RISK  - Interagency Guidance on Institution Due Diligence Concerning Service Provider and Software Vendor Year 2000 Readiness, and Year 2000 Impact on Customers
The Federal Financial Institutions Examination Council (FFIEC) has issued the attached statements to provide guidance to the industry on the risks associated with Year 2000 readiness for a financial institution's service providers and software vendors, as well as for its customers.  The statements supplement the FFIEC's statement "Year 2000 Project Management Awareness," issued May 5, 1997.

OCC March 18, 1998 - News Release- Comptroller Commends Federal Reserve for Seeking Comment On Whether to Permit Voluntary Collection of Race and Gender Data

March 18, 1998 - FDIC ANALYSTS WARN BANKS ON YEAR 2000 READINESS, REAL ESTATE LENDING, AND OTHER INDUSTRY CONCERNS
Time is running out for banks to prevent computer problems that could arise from the change to the Year 2000, Federal Deposit Insurance Corporation analysts warned today in publications sent to every bank and thrift institution in the country.  "A failure to address Y2K (Year 2000) exposures immediately and successfully may amount to a gamble backed by the value of the bank franchise and the officers and directors who run it," the series of publications -- titled Regional Outlook -- said.

March 17, 1998 - OCC ANNOUNCES 14 NEW ENFORCEMENT ACTIONS AND 6 TERMINATIONS

March 16, 1998 - BANK REPORTS - Revisions to the Reports of Condition and Income (Call Report) for 1998
The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, and the Office of the Comptroller of the Currency plan to implement a few revisions to the Reports of
Condition and Income (Call Report) on March 31, 1998, pending approval by the U.S. Office
of Management and Budget. The Federal Financial Institutions Examination Council (FFIEC),
which also has approved the revisions, provided advance notice of the reporting changes for
1998 in Financial Institution Letter (FIL) 8-98, dated January 20, 1998.

March 16, 1998 - TEXAS BUSINESSWOMAN, MARYLAND BUSINESSMAN CHARGED WITH CONSPIRING TO DEFRAUD THE FDIC
Federal Deposit Insurance Corporation (FDIC) Inspector General Gaston L. Gianni, Jr.,
announced today that Texas businesswoman Nolanda Sue Hill and Maryland businessman
Kenneth Charles White were indicted March 13 by a federal grand jury in Washington, D.C., on charges of conspiring to defraud the FDIC from 1989 to 1993 while serving as officers of
Corridor Broadcasting Corporation. Corridor owned and operated television broadcast stations in the District of Columbia (Channel 50) and the Boston/Worcester, Massachusetts, area (Channel 27) from the mid-1980s to 1993. Hill held a financial interest in and was chief executive officer of Corridor, while White was Corridor's chief financial officer.

FRB March 13, 1998 - For immediate release
The Federal Reserve Board today requested comment on a comprehensive review of two
of its consumer protection regulations--Regulation B, Equal Credit Opportunity, and
Regulation C, Home Mortgage Disclosure.  Comment is requested by May 29.

FRB March 13, 1998 - For immediate release
The Federal Reserve Board today published an interim rule to its Regulation E, Electronic
Fund Transfers, that permits depository institutions to deliver disclosures electronically if
the consumer agrees.

Applications Bulletin - Federal Reserve Bank of Dallas week ending March 13, 1998
Texas United Bancshares, Inc., La Grange, TX, to acquire Premier Bancshares, Inc., La Grange, TX, and State Bank, La Grange, TX, and simultaneously acquire South Central Texas Bancshares, Inc., Flatonia, TX, Flatonia State Bank, Flatonia, TX, and Central Texas Bank, La Grange, TX

FRB March 13, 1998 - For immediate release
The Federal Reserve Board today requested public comment on a proposal to permit the electronic delivery of disclosures for four of its consumer protection regulations.   Comment is requested by May 15.

March 12, 1998 - TEXAS MOTORCYCLE DEALER SENTENCED FOR MULTI-MILLION DOLLAR SALE OF BOGUS FDIC ASSETS
Federal Deposit Insurance Corporation (FDIC) Inspector General Gaston L. Gianni, Jr.,
announced today that Danny D. Meister, the owner and operator of a motorcycle sales and
automobile repair facility in Pantego, TX, was sentenced March 10 to 70 months in prison and
ordered to pay $3.1 million in restitution to his victims for the fraudulent sale of fictitious FDIC
assets. The sentence followed his November 20, 1997, guilty plea to one count of defrauding an investor of $360,000 in bogus FDIC assets.

March 12, 1998 - ST. LOUIS FRB -- The appointment of William Poole as president of the Federal Reserve Bank of St. Louis was announced today by John F. McDonnell, chairman of the Bank’s board of directors. He will assume his duties on Monday, March 23, 1998.

March 12, 1998 - FDIC REPORTS THAT COMMERCIAL BANKS AND SAVINGS INSTITUTIONS EARNED RECORD PROFITS IN 1997
Insured commercial banks had record earnings in the fourth quarter of 1997, as well as for the
full year, according to preliminary data released today by the FDIC. Fourth-quarter net income
totaled $15.3 billion, an increase of $511 million (3.5 percent) over the previous quarterly
record of $14.8 billion in the third quarter of 1997. For all of 1997, banks posted record net
income of $59.2 billion, up $6.9 billion (13.1 percent) from 1996 results.

FRB March 10, 1998 - For immediate release
The Federal Reserve Board today requested comment on the benefits and drawbacks
associated with its 1994 same-day settlement rule. The Board also is requesting comment on the implications of potential further rule changes to reduce legal disparities between the Federal Reserve Banks and private-sector banks in the presentment and settlement of checks. Comments are requested by July 17, 1998.

March 6, 1998 - Department of Banking, State of Texas
Due to continued concern about state institutions' readiness to deal with Year 2000 (Y2K)
compliance issues and the regulators' responsibility to properly assess risk, Commissioner Catherine A. Ghiglieri announced that effective today, the analysis of each application filed with the Department will include a review of Y2K compliance.

FRB - March 6, 1998 - For immediate release
The Federal Reserve Board today announced revisions in its cash access policy on how cash shipments and deposits will be handled in an interstate branching environment. The policy is effective May 4, 1998.

Applications Bulletin - Federal Reserve Bank of Dallas week ending March 6, 1998
Texas United Bancshares, Inc., La Grange, TX, to acquire Premier Bancshares, Inc., La Grange, TX, and State Bank, La Grange, TX, and simultaneously acquire South Central
Texas Bancshares, Inc., Flatonia, TX, Flatonia State Bank, Flatonia, TX, and Central Texas Bank, La Grange, TX
Keene Bancorp, Inc., 401(k) Employee Stock Ownership Plan & Trust, Keene, TX, to acquire Keene Bancorp, Inc., Keene, TX, and First State Bank, Keene, TX
Cullen/Frost Bankers, San Antonio, TX, to acquire Overton Bancshares, Inc., Fort Worth, TX, and Overton Bank & Trust, N.A., Fort Worth, TX

March 5, 1998 - FDIC ANNOUNCES FIVE KEY MANAGEMENT APPOINTMENTS
IN THE DIVISION OF SUPERVISION

FDIC Division of Supervision (DOS) Director Nicholas J. Ketcha Jr. has announced five key
management appointments within the division. Two senior Washington Office executives and
three Assistant Regional Directors have been named.

March 3, 1998 - OCC ANNOUNCES 13 NEW ENFORCEMENT ACTIONS AND ONE TERMINATION

FDIC March 3, 1998 - COMMUNITY REINVESTMENT ACT - Guidelines for Strategic Plan Submissions
The Federal Deposit Insurance Corporation (FDIC) has developed the attached guidelines for financial institutions choosing to have their Community Reinvestment Act (CRA) performance evaluated under the strategic plan option. The attachment supplements existing guidance for preparing and submitting a strategic plan to the FDIC for approval.

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