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

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  Bank Regulatory News

November 1997

FRB Dallas applications filed the week ending 11-28-97:
Western Bank, Las Cruces, Employee Stock Ownership Plan, Las Cruces, NM, et al, to acquire an interest in Western Bancshares of Las Cruces, Inc., Carlsbad, NM
Michael S. Helfer, Washington, D.C., only notificant, to acquire an interest in First Community Bancshares, Inc., Houston, TX
Texas Bank & Trust, National Association, Dallas, TX, to convert to a state member bank

November 26, 1997 - Texas Banking Commissioner Catherine A. Ghiglieri filed a lawsuit against NationsBank of Texas, N.A. and NationsBank, N.A., Charlotte, North Carolina to prevent the merger of the two banks. The lawsuit was filed on Wednesday, November 26, 1997 in the United States District Court for the Northern District of Texas, Dallas Division.

November 24, 1997 - FRB approval of the application by First National Security Company, DeQueen, Arkansas, to acquire all of the voting shares of First Financial Corporation of Idabel and thereby acquire its subsidiary bank, First State Bank of Idabel, both in Idabel, Oklahoma.

The latest FDIC report on banks' underwriting standards showed no widespread problems currently, but indicated that lending for both commercial real estate and construction should be monitored carefully in the future.

November 21, 1997 - PR-84-97: FDIC Approves The Assumption of Deposits of Southwest Bank, Jennings, Louisiana
The Board of Directors of the Federal Deposit Insurance Corporation approved the assumption of all the deposits of Southwest Bank, Jennings, Louisiana, by First Southwest Bank, Jennings, a newly chartered bank.

FRB Release Date: November 21, 1997 -  The Federal Reserve Board today issued an amendment to its Truth in Lending Regulation that gives creditors flexibility in providing variable-rate disclosures.

FRB Dallas applications filed the week ending 11-21-97:
Michael S. Helfer, Washington, D.C., only notificant, to acquire an interest in First Community Bancshares, Inc., Houston, TX
American State Financial Corporation, Lubbock, TX, and American State Financial Corporation Delaware, Wilmington, DE, to acquire Security Shares, Inc., Abilene, TX, and Security State Bank, Abilene, TX

NR 97-102 - November 20, 1997 - OCC Announces Director of Special Studies Division
WASHINGTON, D.C. -- William Lang has been named director of the OCR's Special Studies unit which was created early this year to analyze public policy issues arising from emerging technologies in the financial services industry.

FIL-119-97 - November 19, 1997 - Required Reports of Indebtedness by Executive Officers and Principal Shareholders
The attached form FFIEC 004 may be used for complying with the reporting requirements of Title VIII of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 for calendar year 1997. The Act requires each bank's executive officers and principal shareholders to submit an annual report to their board of directors on their indebtedness, and that of their related interests, to correspondent banks.

November 17, 1997 - PR-83-97: Orders to Cease and Desist Issued Against Georgia Banks regarding the Year 2000
The Federal Deposit Insurance Corporation and the Georgia Department of Banking and Finance today announced the joint issuance of Cease and Desist Orders against three affiliated Georgia banks, the Farmers and Merchants Bank, Eatonton; The Farmers Bank, Union Point; and the First Bank of Coastal Georgia, Pembroke.

FRB Dallas applications filed the week ending 11-14-97:
Chase Family No. 2, Ltd., Waco, TX, et al, to acquire an interest in CentraBanc Corporation, Waco, TX
Lyndon Lowell Olson, Jr., Waco, TX, only notificant, to acquire an interest in CentraBanc Corporation, Waco, TX
Jack C. Vanderburg, Dalhart, TX, et al, to acquire an interest in First Dalhart Bancshares, Inc., Dalhart, TX

NR 97-101 - November 12, 1997 - OCC Issues First Handbook for Banks Engaging in Asset Securitization
WASHINGTON, D.C. -- The Office of the Comptroller of the Currency (OCC) today released its first handbook on asset securitization, a process in which loan receivables are underwritten, packaged, and sold as securities.  The publication, entitled Comptroller's Handbook: Asset Securitization, is intended to give bankers and bank examiners a better understanding of the
benefits and risks of securitization as well as outline procedures for effective risk management. 

November 12,1997 - PR-82-97: FDIC Retains Existing Insurance Premiums for First half of 1998
Given the favorable conditions facing depository institutions and their insurance funds, the  FDIC Board of Directors voted today to maintain premium rates for banks and thrifts at their current low levels through the first half of 1998.

November 12,1997 - PR-81-97: FDIC Reports Continued Growth in Bank and Thrift Insurance Funds
The Bank Insurance Fund (BIF) earned $1.1 billion for the first three quarters of 1997, surpassing the $653 million earned for the same period last year, the FDIC reported today. The BIF's balance now stands at $28 billion.

November 11, 1997 -FDIC - PR-80-97: Three Convicted of Crimes Against the FDIC to Pay
Over $1 Million to Settle Restitution Dispute
FDIC Inspector General Gaston L. Gianni, Jr., announced today that three felons  convicted of crimes against the FDIC have agreed to pay over $1 million to end civil  proceedings brought against them by United States Attorney Donald K. Stern over their failure to pay restitution to the FDIC ordered by the federal court.

FRB Dallas applications filed the week ending 11-7-97:
Citizens Bankers, Inc., Baytown, TX, and Citizens Bankers of Delaware, Inc., Wilmington, DE, to
acquire First National Bank of Bay City, Bay City, TX
Cullen Frost Bankers, Inc., San Antonio, TX, and New Galveston Company, Wilmington, DE, to
acquire Harrisburg Bancshares, Inc., Houston, TX, Harrisburg Bancshares, Inc., Reno, NV, and
Harrisburg Bank, Houston, TX
Clayton Douglas Murr, Junction, TX, only notificant, to acquire an interest in First State Bank, Junction, TX
Hillister Enterprises II, Inc., Beaumont, Texas; Umphrey II Family Limited Partnership,       Beaumont, Texas; Southeast Texas Bancshares, Inc., Beaumont, Texas; and Texas Community
Bancshares of Delaware, Inc., Wilmington, Delaware, to acquire Silsbee Financial         Corporation, Silsbee, Texas; Silsbee Delaware Corporation, Wilmington, Delaware; and Silsbee
State Bank, Silsbee, Texas.
Jack C. Vanderburg, Dalhart, TX, et al, to acquire an interest in First Dalhart Bancshares, Inc.,
Dalhart, TX 

FDIC FIL-117-97 November 7, 1997 - CAPITAL STANDARDS - Proposed Revisions to the Risk-Based Capital Treatment of Recourse and Direct Credit Substitutes
The FDIC Board of Directors is seeking comment on the attached proposal to make consistent
the risk-based capital standards for two types of credit enhancements - "recourse" arrangements
and "direct credit substitutes." The proposal would also require different amounts of capital for
different risk positions in asset securitization transactions. 

November 5, 1997, ST. LOUIS - The Federal Reserve today announced 1998 fee schedules that lower prices by 11 percent or more for both Fedwire® funds transfers and automated clearing house (ACH) transactions. The Fed estimates that these reduced fees will save the banking industry $15.6 million over the next year.

November 1, 1997 - Texas Banking Commissioner Catherine A. Ghiglieri announced the
appointment of Elise H. Myers of Coppell, Texas, to serve as Assistant Regional Director of the
Dallas/Fort Worth Region of the Texas Department of Banking. 

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