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Interpretations and Actions: January 1999

Vol. 12, No. 1

PLEASE NOTE: Interpretive Letters and No Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions and Decisions (CRA) are from the office of Bank Organization and Structure. The list of CRA Ratings is from the Communications Division. For copies of the evaluation, you should contact the bank directly or the Office of the Comptroller of the Currency, Attn: Public Reference Room, Mailstop 1-5, Washington, D.C. 20219.

Members of the news media are encouraged to cite the letter number when reporting or summarizing documents from this package. This helps to process single requests in a more timely manner.

CRA Decisions

Letter No. Topic
82 Applications for approval of eight mergers involving five existing national bank subsidiaries, two existing state bank subsidiaries and a proposed interim national bank subsidiary of Firstar Corporation, Milwaukee, Wisconsin, with and into Star Bank, National Association, Cincinnati, Ohio. (Control Numbers 98CE02052 and 98CE02059), 12/24/98
83 Applications by Vectra Bank Colorado, N.A., Denver, Colorado, to purchase and assume the six Colorado branches of Centennial Savings Bank, F.S.B., Farmington, New Mexico; by Centennial Savings Bank, F.S.B. to convert to a national bank under the title Centennial Bank, N.A.; and by Vectra Bank Colorado, N.A., to consolidate with Centennial Bank, N.A. under a new charter and title of "Vectra Bank Colorado, N.A.," Farmington, New Mexico. (Control Numbers 98WE02034, 98WE01012 and 98WE02036), 12/28/98
84 Application by Plains National Bank, Lubbock, Texas, to establish a domestic branch. (Control Number 98SW050176) 12/30/98

Corporate Decisions

Letter No. Topic
99-01 Application to convert to a national banking association by "Bay View Bank, National Association," San Mateo, California. (Control Number 98WE01011), 11/05/98
99-02 Application by Fleet National Bank, Providence, Rhode Island, to establish an operating subsidiary to reinsure mortgage insurance. (Control Number 98ML08016), 12/11/98
99-03 Application by Old National Bank in Evansville, Indiana, to establish an operating subsidiary, Old National Insurance Company of Vermont, to provide insurance coverages on the business risks of the parent bank and its bank affiliates; and to reinsure credit life, credit health and accident, and credit unemployment insurance. (Control Number 98WO080029), 12/21/98
99-04 Application by Hibernia National Bank, New Orleans, Louisiana, to establish an operating subsidiary to reinsure mortgage insurance. (Control Number 98SW080014), 12/23/98
99-05 Application by NationsBank, National Association, Charlotte, North Carolina, to establish an operating subsidiary, Bank of America Reinsurance Corporation, to reinsure a portion of the mortgage insurance on loans serviced, originated , or purchased by the Bank of the Bank's subsidiaries or depository institution affiliates. (Control Number 98ML080019), 12/28/98

Approvals with conditions enforceable under 12 U.S.C. 1818

Letter No. Topic
295 Application by PNC Bank, National Association, Pittsburgh, Pennsylvania, to invest in a limited partnership through an operating subsidiary, which will acquire a 50 percent interest in a joint venture that will engage in leasing activities. (Control Number 98NE080035), 12/03/98
296 Application to charter an uninsured national trust bank with the title "Cambridge Appleton Trust, National Association," Cambridge, Massachusetts (Proposed). (Control Number 98NE010007), 12/08/98
297 Application by UMB Bank, N.A., Kansas City, Missouri, to commence new activities in an operating subsidiary which include engaging in underwriting and dealing in, to a limited extent, securities of states and their political subdivisions, including obligations of states and political subdivisions that do not qualify under the OCC's current definitions as general obligation securities. (Control Number 98WO080027), 12/09/98
298 Application by NationsBank, National Association, Charlotte, North Carolina, to establish an operating subsidiary that would acquire a noncontrolling interest in a limited liability company. (Control Number 98ML080020), 12/15/98
299 Application by The First National Bank of the Mid-South, Sikeston, Missouri, to elect the corporate governance provisions of Missouri law and complete a reverse stock split in accordance with those provisions. (Control Number 98MW12156), 12/17/98

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 99-1, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Reference Room, Mailstop 1-5, Washington, D.C. 20219. When ordering, specify the appropriate enforcement action number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed is a list of CRA performance evaluations that became public during the period of December 15, 1998 through January 14, 1999.

INTERPRETATIONS AND ACTIONS is published monthly by the Office of the Comptroller of the Currency. Subscriptions are available at a rate of $175 per year by writing to the Comptroller of the Currency, P.O. Box 70004, Chicago, IL 60673-0004. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Communications Division, Comptroller of the Currency, Washington, DC 20219.