Corporate Applications and Other Requests:
Vol. 18, No. 6
IN THIS ISSUE:
||Letter grants a request for a waiver of certain
provisions of the OCC's securities confirmation rules at 12 CFR Part 12 in
connection with the bank's transfer agent activities for various dividend
reinvestment, stock purchase and employee stock purchase plans.
||Letter concludes that national bank may continue to
hold a separate account BOLI investment that in turns holds interests in
instruments with characteristics of debt securities and a rate of return, a
portion of which is linked to equity securities, provided the bank's EIC has no
supervisory objection. WORD
||Letter concludes that a bank may create a trust to
purchase and hold investments beyond those allowed for national banks without
violating 12 USC 24(Seventh) and 12 CFR Part 1.
||Letter concludes that "GAP Addendums" sold by a
national bank to borrowers in connection with the bank's motor vehicle loans,
in connection with a GAP program administered by an insurance company, are debt
cancellation contracts subject to 12 CFR Part 37.
| Letter No.
||Application to merge NorCrown Bank, Livingston, New
Jersey, with and into Valley National Bank, Passaic, New Jersey, under the
charter and title of the latter and Valley National Bank's application to
proceed with the establishment of the approved but un-opened NorCrown branch
located in Vernon, New Jersey. (Control Numbers 2004 NE 02 0050 & 2004 NE 05
||Merger of Alliance Banking Company, New Buffalo, Michigan with and into Horizon Bank, National Association, Michigan City, Indiana. (Control Number 2005 CE 02 011), WORD
||Application by Wells Fargo Bank, National Association, Sioux Falls, South Dakota, to purchase the assets and assume the liabilities of four Randall County, Texas branches of PlainsCapital Bank, Houston, Texas. (Control Number 2005 ML 02 0001), WORD
Approvals with conditions enforceable under 12 U.S.C. 1818
| Letter No.
||Change in Bank Control Act (CBCA) notice by The Savings Bank, Wakefield, Massachusetts ("TSB") to acquire First Financial Trust, National Association, Newton, Massachusetts ("the Bank") and the application to charter "Wakefield Interim National Bank" and to consolidate "Wakefield Interim National Bank" with the Bank. (Control Numbers 2005 NE 02 0006 & 2005 NE 11 0001),
||Proposal by Treasury Bank, National Association to make a material non-cash contribution to capital surplus. (Control Number 2005 WE 12 0116),
||Conversion of Deutsche Conversion of Deutsche Bank Trust Company, New York, New York to a national bank with full trust powers with the title Deutsche Bank Trust Company, National Association;
Conversion of Deutsche Bank Trust Company, Connecticut ltd., Greenwich, Connecticut to a national bank with full trust powers with the title Deutsche Bank Trust Company, Connecticut, National Association;
Relocation of Deutsche Bank Trust Company, Connecticut, National Association to New York, New York; and the
Merger of Deutsche Bank Trust Company, Connecticut, National Association with and into Deutsche Bank Trust Company, National Association with the resulting bank to be named Deutsche Bank Trust Company, National Association (the Bank)(Control Numbers 2003 NE01 0012, 013, 2003 NE 07 0022, & 2003 NE 02 0031),
||Application by The First National Bank of McConnellsburg, McConnellsburg, Pennsylvania to purchase the assets and assume the liabilities of the "Hancock, Maryland Office" of Hagerstown Trust Company, Hagerstown, Maryland. (Control Number 2005 NE 02 0015),
Charters with standard conditions
||Application to establish a new national trust bank which will engage solely in fiduciary activities with the title of HSBC Trust Company (Delaware), National Association to be located in Wilmington, Delaware. (Control Number 2005 NE 01 0003), WORD
||Application to establish a new national CEBA credit card bank with the title of Town North Bank Nevada, National Association, to be located in Las Vegas, Nevada. (Control Numbers 2004 WE 01 0021, 2004 WE 12 0397, and 2005 WE 08 0011), WORD
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number
announcing the availability of enforcement actions. Copies of the final actions
are available by writing to the OCC, Public Information Room, Mail Stop 1-5,
Washington, D.C. 20219. When ordering, specify the appropriate enforcement
Community Reinvestment Act (CRA) Performance Evaluations
Enclosed is a list of CRA performance evaluations that
became public during the period of
May 15, 2005 through June 14.
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. 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: 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 timelier
The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND
ACTIONS monthly. Subscriptions are available at a rate of $175 per year by
writing to the Comptroller of the Currency, ATTN: Accounts Receivable, Mail
Stop 4-8, 250 E Street, S.W., 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 3-2,
Washington, DC 20219.