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Interpretations and Actions: July 2009

Vol. 22, No. 7

Interpretive Letters

Letter No. Topic
1118 Letter states that a national bank may exchange an interest in real property acquired in satisfaction of a debt previously contracted for an interest in an entity which would dispose of the real property. Prior to making the exchange, (1) the bank's directors must determine that the exchange is in the best interests of the bank and would improve the ability of the bank to recover, or otherwise limit, its loan loss, and (2) the bank must notify its Supervisory Office, in writing, of the proposed exchange and receive written notification of supervisory non-objection. 07/02/2009

Corporate Decisions

Letter No. Topic
2009-06 Application by Stearns Bank, National Association to purchase the assets and assume the liabilities of Horizon Bank, Pine City, Minnesota (Control Number 2009 CE 02 017), 06/26/2009

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

Letter No. Topic
907 Application to merge Merrill Lynch Bank USA, Salt Lake City, Utah, with and into Bank of America, National Association, Charlotte, North Carolina (Control Number 2009 ML 02 0004), 06/19/2009
908 Modification of the Memorandum of Agreement associated with the application by First Citizens National Bank, Mansfield, PA, to establish a branch at the block bounded by East Avenue and Walnut and Pearl Streets, Mansfield, Pennsylvania (Control Number 2008 NE 05 0146), 06/23/2009
909 Change in Bank Control Act Notice in Connection with the proposed acquisition of Promark Trust Bank, National Association, New York, New York by NGMCO, Inc., Wilmington, Delaware (Control Number 2009 WO 11 0001), 07/02/2009

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2009-84, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Communications Division, Mail Stop 2-3, Washington, D.C. 20219. You may also submit your request electronically through the OCC's online FOIA site or fax your request to (202)-874-5274. 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 June 15, 2009 through July 14, 2009.

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 Licensing Activities. The Community Development Investment Letters are from the office of Community Affairs. 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: Communications Division, Mail Stop 2-3, Washington, D.C. 20219; by fax to (202) 874-5274; or electronically at the OCC's online FOIA site. 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 timelier manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly. Subscriptions are available at a rate of $200 per year by writing to the Comptroller of the Currency, ATTN: Financial Management, Accounts Receivable, Mail Stop FM-2, Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 2-3, Washington, DC 20219.