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

The Community Banker
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  Bank Regulatory News 

September 1997

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.

FRB September 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 than $300,000.

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 Institutions
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,  well-capitalized institutions.

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

The Federal 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

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 these entities.

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 during September.

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:

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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