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Interpretations and Actions: September 2000

Vol. 13, No. 9

PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of the Comptroller's legal staff. Corporate Decisions, CRA Decisions and Conditional Approvals are from the office of Bank Organization and Structure. The list of CRA Ratings is from the Communications Division. For copies of the CRA evaluations, you may either contact the bank directly, or you may write to the Office of the Comptroller of the Currency (OCC) in any of three ways: by mail to the OCC, Attn: Public Information Room, Mail Stop 1-5, Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to You may also write to the OCC for copies of enforcement actions and charters with standard conditions.

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

Interpretive Letters

Letter No. Topic
892 National bank may take positions in equity securities solely to hedge bank permissible equity derivative transactions originated by customers for their independent business purposes, subject to certain bank representations. 09/08/2000

CRA Decisions

Letter No. Topic
107 Application by Far East National Bank, Los Angeles, California, to establish a branch at 4095 Mowry Avenue, Fremont, California. (Control Number 2000 WE 05 0051), 08/29/2000

Corporate Decisions

Letter No. Topic
2000-12 Application by First Bethany Bank & Trust, N.A., Oklahoma City, Oklahoma, to establish a messenger service branch to be housed at the bank's main office. (Control Number 2000 SW 05 0048), 08/15/2000
2000-13 Application by The National Bank of Middlebury, Middlebury, Vermont, to relocate the "Bristol Branch" from 5 Main Street to 28 Main Street, Bristol, Vermont. (Control Number 2000 NE 07 0021), 08/16/2000
2000-14 Application by Amboy National Bank, Old Bridge, New Jersey, to sell title insurance, as agent, in a financial subsidiary in the state of New Jersey. (Control Number 2000 NE 08 041), 08/17/2000
2000-15 Application to merge BSB Bank & Trust Company, Binghamton, New York, with and into NBT Bank, National Association, Norwich, New York, under the charter of the later and with the title of "Nystar Bank, National Association." (Control Number 2000 NE 02 0021), 08/28/2000
2000-16 Application by Frontier National Bank, Sylacauga, Alabama, to establish an operating subsidiary,, The Frontier Reinsurance Company, Inc., to reinsure credit life, accident, disability, and health insurance in connection with loans to customers made by the Bank and its affiliates. (Control Number 2000 SE 08 0042), 08/29/2000

Approvals with Conditions Enforceable under 12 U.S.C. 1818

Letter No. Topic
409 Application by Wilber National Bank, Oneonta, New York, to establish an operating subsidiary to provide internet access to bank customers in the bank's service area. (Control Number 2000 NE 08 019), 08/10/2000
410 Application by Eaglemark Bank, National Association, Carson City, Nevada, to reduce permanent capital. (Control Number 2000 WE 12 0082), 08/20/2000

Charters with Standard Conditions

Each of the following charter application(s) were approved with a standard condition enforceable under 12 U.S.C. 1818 that requires the bank, during the first three years of its operation, to provide notice to the OCC in advance of any significant deviations or changes from its proposed operating plan.

Letter No. Topic
411 Cornerstone National Bank & Trust Company, Palatine, Illinois, (Control Number 2000 CE 01 009), 08/10/2000
412 Nicolet National Bank, Green Bay, Wisconsin, (Control Number 2000 CE 01 007), 08/11/2000

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2000-74, 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 August 15 through September 14.

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, Mailstop 3-2, Comptroller of the Currency, Washington, DC 20219.