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Decisions on Bank Applications

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Disclaimer
The following list shows those activities and investments approved by the FDIC under Section 24 of the Federal Deposit Insurance Act and Part 362 of the FDICís Rules and Regulations, 12 C.F.R. Part 362. The list provides insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve under Section 24. However, the fact that a particular activity or investment has received FDIC approval in the past does not affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity. Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity. Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory changes may have taken place, which might impact how the issues would be treated today.

COMMUNITY STATE BANK - AUSTIN, TX
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 6/27/2005 $336,000 11%
Application seeking permission to form a joint venture, OCMP/CTCIC Joint Venture, between the Subsidiary and Onion Creek Memorial Park, Inc., to construct two mausoleums, sell crypts and niches, and service consumer installment contracts. Community State Bank


WASHINGTON MUTUAL SAVINGS BANK - SEATTLE, WA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 8/3/1995 $ 250,000 0.40%
Application to continue certain travel agency activities as principal in connection with the operations of its wholly-owned subsidiary. Washington Mutual Bank


COLUMBUS BANK AND TRUST - COLUMBUS, GA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 7/7/1994   14.36%
Subsidiary investment in companies engaged in correspondence products, credit application processing, printing, data processing, and mailing services. Columbus Bank and Trust Company


SECURITY BANK - SHELDON, IA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 7/26/1996 $ 515,739 8.4%
Application to hold nine annuities, issued by two insurance companies purchased in conjunction with deferred compensation agreements for various current or former bank officers/directors.


FIRST BANK OF PUERTO RICO - SANTURCE, PR
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 6/4/1996   1.7%
Application to continue to engage in the auto rental business conducted through a wholly owned subsidiary located in Puerto Rico. FirstBank of Puerto Rico


WEST DES MOINES STATE BANK - WEST DES MOINES, IA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 6/3/1999 7.7M 10%
Application to maintain an overnight sweep repo program for certain checking account customers of the bank. West Des Moines State Bank


CHASE MANHATTAN BANK DE - WILMINGTON, DE
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 5/13/1998   28.19%
Application to engage as principal, through two wholly-owned subsidiaries, in fixed-rate annuity underwriting, including reinsurance activities.


AMERICAN BANK OF COMMERCE - LAS VEGAS, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 3/29/1994   100%
Applicant seeks permission to continue investments in Dutch Auction Rate Preferred Stocks ("DARPS") in excess of the 15% maximum total investment allowed by Section 362.4(c)(3)(v) of the FDIC Rules and Regulations.


BRANCH BANKING AND TRUST CO. - WILSON, NC
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 2/1/1994   13.16%
Applicant request approval to acquire an on-going business involved in behavioral sciences, organized as a newly formed wholly-owned subsidiary. Branch Banking and Trust Company


CITYBANK - LYNNWOOD, WA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 12/5/2001 5.2M 4.60%
Application to engage in document search, retrieval and filing activities through a majority owned subsidiary, organized as a limited liability company. CityBank




Last Updated 03/24/2011 Legal@fdic.gov