The Federal Reserve Banks
announced today (9-29-97) that they have upgraded their Functional Cost and Profit
Analysis (FCA) program, a cost accounting service offered to financial institutions
nationwide. The new FCA program now includes two products t o assist financial
institutions in aggressively managing costs: FCA Basic and FCA Plus. The announcement
coincides with the FCA program's 40th anniversary.
29, 1997 - Approval of the applications of ANB Holding Company, Ltd., and ANB
Corporation, both in Terrell, Texas, to acquire up to approximately 41 percent of the
voting shares of Lakeside Bancshares, Inc., and thereby acquire its subsidiary, Lakeside
National Bank, both in Rockwall, Texas.
September 29, 1997 - PR-69-97:
Impersonator of RTC Employee Pleads Guilty to Defrauding Twelve People of
$300,000 FDIC Inspector General Gaston L. Gianni, Jr., announced today that Carl
McGuire of Los Angeles, CA, pled guilty on September 17 in U.S. District Court in
Los Angeles to two counts involving a scheme in which he impersonated an employee of
the former Resolution Trust Corporation (RTC) and defrauded at least 12 people of more
September 26, 1997 - Texas Speaker of the House Pete Laney is having the
House Financial Institutions Committee review ATM charges.
September 22, 1997, OCC Press Release Derivatives Volume Continues To
Increase But Trading Revenue Declines
WASHINGTON, D.C. -- The notional amount of derivatives activity at commercial banks
increased by $1.4 trillion in the second quarter to $23.3 trillion, the Office of the
Comptroller of the Currency (OCC) reported today in its quarterly report of derivatives
activity. For the first half of the year, the notional amount of derivatives
activity increased by 16 percent.
September 23, 1997 - PR-68-97:
FDIC Proposes Speedier Application Procedures for Well-Managed, Well-Capitalized
The FDIC Board of Directors voted today to seek public comment on a proposal that
would substantially expedite the processing of applications filed by well-managed,
FRB - Change in
Control Notice September 19, 1997
Johnny Bob Carruth, Haskell, TX, et al, to acquire an interest in First Haskell Bancorp,
Inc., Haskell, TX
Reserve Board today (9-17-97) announced its approval of the notice by BankAmerica
Corporation to acquire Robertson, Stephens & Company Group, LLC, and Robertson,
Stephens & Company, Inc., and thereby indirectly acquire both of their subsidiaries
and affiliates, all of San Francisco, California.
September 16, 1997 - PR-67-97:
FDIC Proposes New Risk-Based Capital Rules for Credit Enhancements, Equity Securities;
Adopts Final Rule on Small Business Loan Recourse
The FDIC Board of Directors took three actions today involving the agency's rules
governing minimum capital levels that FDIC-supervised banks must maintain against the
risks to which they are exposed.
The FFIEC announced September 12, 1997 that the June
Uniform Bank Performance Reports are available.
In a press release I received in the mail dated September 12, 1997, the FFIEC the federal banking agencies are seeking comment
about changing current classification policies. For more information Joe M. Cleaver,
Executive Secretary, FFIEC, 202-634-6526
STATE OF OKLAHOMA, STATE BANKING DEPARTMENT,
SEPTEMBER 11, 1997
Mick Thompson, Oklahoma Bank Commissioner, is issuing this alert to Oklahoma financial
institutions and a warning to the general public concerning financial transactions
involving the "First Americans Trust Company" a/k/a "First Americans"
with corporate headquarters in Oklahoma City, and "Apache Tribe General Community
Bank of Anadarko." Which claims to be headquartered in Anadarko,
Oklahoma. These entities are not chartered by or licensed to do business in the
State of Oklahoma. Commissioner Thompson advises financial institutions and the
general public to exercise extreme caution when engaging in any transaction involving
The Federal Deposit Insurance Corporation (FDIC)
today (9-3-97) released a list of orders of administrative enforcement actions taken
against banks and individuals in July. Two administrative hearings are scheduled
On 9-10-97 the Federal
Reserve approval of the notice of NationsBank
Corporation, Charlotte, North Carolina, to acquire Montgomery Securities and The
Pyramid Company, both of San Francisco, California, and thereby engage in underwriting and
dealing, to a limited extent, in all types of debt and equity securities, and in certain
other nonbanking activities.
On 8-29-97 the OCC received an application for
a mobile branch from:
STATE NATIONAL BANK OF WEST TEXAS, 1661 BROADWAY, LUBBOCK, TX 79401
American State Bank, Lubbock announced that it
would acquire Security State Bank, Abilene.
The FDIC has issued the public list of its institutions to be examined under
regulations implementing the Community Reinvestment Act (CRA). The list covers the fourth
quarter of 1997, and is available electronically at the FDIC's web site: http://www.fdic.gov/banknews .
NationsBank announced it would acquire the
Florida's largest bank, Barnett Bank. This
will make Nations the third largest bank in the country.
The latest results from the FDIC's quarterly
Survey of Real Estate Trends show that conditions in residential and commercial markets in
July generally were better than during the prior three months.
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