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Interpretations and Actions: August 2002

Vol. 15, No. 8

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
941 National bank had authority to acquire and hold the preferred stock of an unaffiliated company. Letter states that the bank had the authority to acquire and may continue to hold the preferred stock under its authority in 12 USC 24(7) to discount and negotiate evidences of debt. 06/11/2002

Corporate Decisions

Letter No. Topic
2002-12 Application by Peoples Bank, National Association, Marietta, Ohio to purchase certain assets and assume the deposit liabilities of the Malta, Ohio branch office of Century National Bank, Zanesville, Ohio. (Control Number 2002 CE 02 015), 07/29/2002
2002-13 Application of MB Financial Bank, N.A., Chicago, Illinois to acquire several operating subsidiaries engaged in the business of equipment leasing. (Control Number 2002 CE 08 0024), 07/31/2002

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

Letter No. Topic
538 Application to establish a new national bank with the title of "Texas Community Bank, National Association," The Woodlands, Texas. (Control Number 2002 SW 01 0003), 07/16/2002
539 Application by The First National Bank of Luverne, Luverne, Minnesota for a reduction of permanent capital. (Control Number 2002 MW 12 073), 07/22/2002
540 Application by The First National Bank & Trust of Pipestone, Pipestone, Minnesota for a reduction of permanent capital. (Control Number 2002 MW 12 011), 07/22/2002
541 Commonwealth National Bank, Mobile, Alabama, application to elect the corporate governance provisions of Alabama law and complete a reverse stock split in accordance with those provisions. (Control Number 2002 SE 12 000057), 07/30/2002

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2002-65, 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 July 14 through August 15, 2002.

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.