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Interpretations and Actions: October 2001

Vol. 14, No. 10

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
916 Letter concludes that a bank may establish a given order of posting as a pricing decision pursuant to section 24 (Seventh) and section 7.4002. 05/22/2001
917 Letter concludes that it is permissible for an originating lender to place the borrower's loan account number on mortgages, deeds of trust, and assignments and releases of mortgages that are then recorded in public records. 09/04/2001
918 Letter concludes that it is permissible for an originating lender to place the borrower's loan account number on mortgages, deeds of trust, and assignments and releases of mortgages that are then recorded in public records. 09/04/2001

Corporate Decisions

Letter No. Topic
2001-26 Change in bank control notice filed by Promontory Capital Group, LLC to acquire 50% of First Citizens Trust Company, National Association, Mason City, Iowa. (Control Number 2001 MW 11 0001), 09/07/2001
2001-27 Application by Bank One, N.A., Chicago, Illinois, to establish a wholly-owned operating subsidiary to provide real estate construction loan services. (Control Number 2001 ML 08 0008), 09/27/2001
2001-28 Applications to reorganize the credit card operations of Citigroup Inc. and to transfer certain other subsidiaries to Citibank, National Association, New York, New York. (Control Numbers 2001 ML 01 0003, 2001 ML 02 0027 - 0031, 2001 ML 08 0014, 2001 ML 11 0004, and 2001 ML 12 0293 & 0319), 09/21/2001

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

Letter No. Topic
489 Application for the merger of Community Bank, Preston, Iowa, Iowa and Farmers State Bank Chadwick and Mount Carroll, Mount Carroll, Illinois, with and into Metrobank, National Association, Davenport, Iowa; Application for approval of a financial subsidiary; and Request for approval of a Capital Reduction. (Control Numbers 2001 CE 02 030, 2001 CE 08 037 and 2001 CE 12 118), 09/12/2001
490 Multi-step transactions through which MetroWest Bank, Framingham, Massachusetts will be merged with and into First Massachusetts Bank, National Association, Worcester, Massachusetts under the charter and title of the latter. (Control Numbers 2001 NE 02 0041 - 0043), 09/17/2001
491 Purchase and assumption application of the Daingerfield, Texas branch of Jefferson Heritage Bank, FSB, Denton, Texas by National Bank of Daingerfield, Daingerfield, Texas. (Control Number 2001 SW 02 0030), 09/25/2001
492 Application by Alger Associates, Inc. to charter a national CEBA trust bank with the title of "Alger National Trust Company," Morristown, New Jersey. (Control Number 2001 NE 01 0003), 09/28/2001
493 Consolidation of Blackfeet National Bank, Browning, Montana with Native American Interim Bank, National Association (In Organization), Browning, Montana, under the charter number of Blackfeet National Bank with the title of "Native American National Bank" to facilitate the acquisition of Blackfeet National Bank by Native American Bancorporation, Denver, Colorado. (Control Number 2001 WE 02 0010), 09/28/2001

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
494 First Southern National Bank, Statesboro, Georgia, (Control Number 2001 SE 01 0004), 08/02/2001
495 Citizens National Bank in Loup City, Loup City, Nebraska, (Control Number 2001 MW 01 009), 08/02/2001

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2001-90, 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 September 15, 2001 through October 14, 2001.

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.