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

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Bank Regulatory News

October 1997

For release: October 31, 1997 - FRB ST. LOUIS - As more and more banks establish full-service branches in supermarkets and other retail outlets, "shopping for a loan" is taking on a whole new meaning, said a researcher at the Federal Reserve Bank of St. Louis.

For release: October 31, 1997 - FRB ST. LOUIS - The negative image of immigrants taking jobs away from native-born Americans or draining public coffers is not supported by the evidence, said an economist with the Federal Reserve Bank of St. Louis. Immigrants, in fact, are a gain, not a drain, pumping between $1 billion and $10 billion into the U.S. economy every year.

FRB Dallas - Applications Bulletins the week ending October 31, 1997
Texas Bank, Weatherford, TX, to establish a branch at 301 East Lee Street, Brownwood, TX 
Woodforest Bancshares, Houston, TX, and Sun Belt Bancshares, Corporation, Wilmington, DE, to acquire Main Street National Bank, Cleveland, Texas
The First National Bank Employee Stock Ownership Plan, Artesia, NM, to acquire First Artesia Bancshares, Inc., Artesia, NM
Lyndon Lowell Olson, Jr., Waco, TX, only notificant, to acquire an interest in CentraBanc Corporation, Waco, TX
Chase Family No. 2, Ltd., Waco, TX, et al, to acquire an interest in CentraBanc Corporation, Waco, TX 

October 29, 1997 - PR-78-97: FDIC Makes Public September 1997 Enforcement Actions; No Administrative Hearings Scheduled for November
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of  administrative enforcement actions taken against banks and individuals in September. No administrative hearings are scheduled during November.

October 29, 1997 - FRB - Approval of the application of First State Bancshares, Inc., Farmington, Missouri, to acquire up to 10 percent of the voting shares of Perry County Financial Corporation and thereby acquire Perry County's wholly owned savings association subsidiary, Perry County Savings Bank, FSB, a federal savings bank, both in Perryville, Missouri.

October 28, 1997 - PR-77-97: Texas Motorcycle Dealer Charged with Defrauding Investors of Nearly $1 Million with Bogus FDIC Assets
FDIC Inspector General Gaston L. Gianni, Jr., announced today that a federal grand jury in Forth Worth, TX, has indicted Danny D. Meister, the owner and operator of a  motorcycle sales and automobile repair facility in Pantego, TX, on 19 counts for defrauding investors of at least $996,000 with fictitious FDIC assets.

October 27, 1997 ST. LOUIS -- The Federal Reserve has announced its strategy with customers for testing the Century Date Change (CDC) readiness of depository institutions automated electronic connections to the Fed. The Fed will begin such testing July 1, 1998. A summary of the strategy is contained in the second Century Date Change Bulletin mailed to depository institutions and available over the Internet on the Federal Reserve CDC home page http://www.frbsf.org/fiservices/cdc.

October 27, 1997 FDIC - Proposals to Eliminate Interagency Capital Differences and Include
Unrealized Gains on Equity Securities in Tier 2 Capital
The federal bank regulatory agencies are proposing certain revisions to their respective leverage
and risk-based capital rules. The planned changes are described in the two attached proposals.
Comments on the proposed rules are due by December 26, 1997.

FRB Dallas - Applications Bulletins the week ending October 24, 1997
Wills Point Financial Corporation, Wills Point, TX, to acquire Citizens National Bank of Wills Point, Wills Point, TX
WNB Bancshares, Inc., Odessa, TX, to acquire City National Bank, Austin, TX
C. S. B. Bancshares, Inc., Somerville, TX, to repurchase 14,285 shares of its common stock
ANB Bancshares, Inc., Anahuac, TX, to acquire ANB Bancshares of Delaware, Inc., Wilmington, DE, and Anahuac National Bank, Anahuac, TX
ANB Bancshares of Delaware, Inc., Wilmington, DE, to acquire Anahuac National Bank, Anahuac, TX

October 22, 1997 - OCC Will Hold Hearing; Agency Seeks Fines, Restitution and Prohibition Order from Former Bank Vice President
WASHINGTON,  D.C. -- The Office of the Comptroller of the Currency (OCC) today announced that it will hold a public hearing beginning October 28, 1997, in the agency's administrative proceedings against Richard Salmon, former vice president of the Bank of the Desert, N.A., Indio,
California.  The OCC seeks $813,670 in restitution from Mr. Salmon in connection with losses the Bank incurred when it was forced to charge-off 16 allegedly fictitious loans.

October 21, 1997 FDIC Proposes Amending Rule on Prohibition Against Paying Interest on
Demand Deposits (Part 329 of FDIC's Rules and Regulations)
The FDIC Board of Directors is seeking comment on the attached proposal to amend its rule
governing the prohibition against paying interest on demand deposits. Comments are due by
December 15, 1997.

October 21, 1997 PR-51-97: FDIC Issues June List of Banks Examined for CRA                  Compliance (revised)
 The FDIC today issued its monthly list of state nonmember banks recently evaluated for
 compliance with the Community Reinvestment Act (CRA). The list covers evaluation
 ratings that became available in June 1997.

October 20, 1997 The OCC Continues Drive to Rationalize and Reduce Fees; Temporary Rules Expected to Save National Banks $19 Million Made Permanent
Comptroller of the Currency Eugene A. Ludwig announced today a series of actions that make the agency's assessment schedule more equitable and ensure that the fees paid by national banks more accurately reflect the actual costs of supervision.

FRB Dallas - Applications Bulletins the week ending October 17, 1997
WNB Bancshares, Inc., Odessa, TX, to acquire City National Bank, Austin, TX  
Smith Mustang, Ltd., Rio Vista, TX, only notificant, to acquire an interest in First State Bank, Rio Vista, TX
Texas Central Bancshares, Inc., Dallas, TX, to acquire Texas Central Bancshares of Delaware, Inc., Wilmington, DE, and Texas Central Bank, N.A., Dallas, TX
Texas Central Bancshares of Delaware, Inc., Wilmington, DE, to acquire Texas Central Bank, N.A., Dallas, TX

October 16, 1997 OCC RELEASES CRA EVALUATIONS FOR 58 NATIONAL BANKS
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of
September 15 through October 14.

FRB Dallas - Applications Bulletins the week ending October 10, 1997
Smith Mustang, Ltd., Rio Vista, TX, only notificant, to acquire an interest in First State Bank, Rio Vista, TX
Olney Bancshares of Texas, Inc., Olney, TX, and Olney Bancorp of Delaware, Inc., Wilmington, DE, to acquire First National Bank of Borger, Borger, TX, Citizens National Bank of Childress, Childress, TX, and First State Bank of Canadian, N.A., Canadian, TX  
Amador Merger Corporation, Las Cruces, NM, to acquire Amador Bancshares, Inc., Las Cruces, NM, and Citizens Bank of Las Cruces, Las Cruces, NM

FDIC FIL  October 9, 1997 -  Revision to the Division of Compliance and Consumer Affairs' Compliance Examination Manual
The Division of Compliance and Consumer Affairs (DCA) is pleased to announce the availability
of the first revision to its Compliance Examination Manual, published on April 30, 1996. The revision, dated March 31, 1997, will be mailed to all current manual holders.

FDIC FIL October 7, 1997 - Revised, New and Proposed Interagency Questions and Answers on the Revised Community Reinvestment Act Regulations
The revised Community Reinvestment Act (CRA) regulations that went into effect January 1,
1996, continue to prompt questions from the banking industry. In response, the Federal
Financial Institutions Examination Council (FFIEC) has published the attached "Interagency
Questions and Answers Regarding Community Reinvestment" (Q&As) in the Federal Register on behalf of its member banking regulatory agencies ---

October 6, 1997 -  FFIEC Seeks Comment on Proposed Standards for Investment Securities
and End-User Derivatives Activities
The Federal Financial Institutions Examination Council (FFIEC) has proposed revisions to its
supervisory guidelines for investment securities and end-user derivatives activities, and is seeking
comment on its proposals. Comments are due to the FFIEC by November 17, 1997.

October 5, 1997 - PR-74-97: FDIC Announces January 1998 Symposium on Deposit Insurance
FDIC Chairman Andrew C. Hove, Jr., today announced that the agency will sponsor a symposium in January 1998 on deposit insurance.

October 5, 1997 - Regulator Cautions Banks About Loan Standards
BOSTON, MA -- Comptroller of the Currency Eugene A. Ludwig today cautioned bankers that loan underwriting standards have continued to slip.  In a speech to the American Bankers
Association annual convention in Boston, the Comptroller announced a series of actions his office will take to address this slippage.

October 3, 1997, FDIC  New Release to Compliance Officers National Consumers Week Initiatives
National Consumers Week '97 (NCW), scheduled for October 25-31, is dedicated to increasing  public awareness of consumer protection issues.   NCW presents a prime opportunity for financial institutions to assist customers in understanding the many diverse banking products available along with the protections provided for consumers.  This year's NCW theme, "Fair Shake Marketplace," highlights the message that educating consumers will strengthen and increase access to the market, and help preserve its integrity.  For more information contact the FDIC Consumer Affairs Call Center at 1-800-934-3342 or e-mail ACox@FDIC.gov or ANickelsen@FDIC.gov.

FRB Dallas - Applications Bulletins the week ending September 3, 1997
SWB Bancshares, Inc., Fort Worth, TX, to acquire SW Financial, Inc., Dover, DE, and                Southwest Bank, Fort Worth, TX  
SW Financial, Inc., Dover, DE, to acquire Southwest Bank, Fort Worth, TX
Carmen P. Smith Family Limited Partnership, Wichita Falls, TX, only notificant, to acquire an interest in AmeriBancshares, Inc., Wichita Falls, TX
Olney Bancshares of Texas, Inc., Olney, TX, and Olney Bancorp of Delaware, Inc., Wilmington, DE, to acquire First National Bank of Borger, Borger, TX, Citizens National Bank of Childress, Childress, TX, and First State Bank of Canadian, N.A., Canadian, TX
Amador Merger Corporation, Las Cruces, NM, to acquire Amador Bancshares, Inc., Las Cruces, NM, and Citizens Bank of Las Cruces, Las Cruces, NM

October 3, 1997
FORMER FDIC EMPLOYEE CHARGED WITH EMBEZZLING SAVINGS AND LOAN PENSION FUNDS
FDIC Inspector General Gaston L. Gianni, Jr., announced today that former FDIC employee Charles Scroggins of Rowlett, TX, was charged September 22, 1997, in U.S. District Court for the Northern District of Texas with embezzling over $390,000 from savings and loan pension plans in Texas and Oklahoma.

FRB Release: October 2, 1997
John F. McDonnell, chairman of the Board of Directors of the Federal Reserve Bank of St. Louis, today announced the resignation of Thomas C. Melzer as president and chief executive officer, effective January 1, 1998. Melzer has served in that capacity since joining the Bank on June 1, 1985.

October 1, 1997 - PR-70-97: FDIC Makes Public August 1997 Enforcement Actions; 

One Administrative Hearing Scheduled for October
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August. One administrative hearing is scheduled during October.

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