REGIONAL BANKING: ALAN G. McNALLY, Harris Bankcorp's chief executive, was given the additional title of chairman, effective April 19, and Edward W. Lyman and Maribeth S. Rahe were named vice chairmen. Mr. McNally succeeds B. Kenneth West, 61, who is retiring after 38 years. Page 5 WASHINGTON: FLORIDA'S INSURANCE commissioner believes the Supreme Court's recent decision in NationsBank v. Valic forces states to let banks sell annuities, a legal aide to the commissioner says. Page 2 AN APPEALS COURT affirmed the Office of the Comptroller of the Currency's view that banks cannot avoid loan limits by lending money to separate corporations controlled by the same people. Its decision rejected three Texas community banks' request for relief. Page 4 SMALL BUSINESS: ITT SMALL BUSINESS Finance Corp. has not only been one of the most active SBA lenders over the past five years but also one of the most active buyers of SBA loan servicing portfolios. Page 6 COMMUNITY BANKING: FULL-YEAR EARNINGS at the nation's smallest community banks slipped 8% in 1994, as more institutions took securities losses. In the fourth quarter, however, return on assets jumped to 1.01%, from 0.96%, the FDIC reports. Page 8 AS SMALL BANKS grow, they face the dilemma of generating fee income and developing expense controls without giving up their image as specialists in providing service. Banks must reward the 20% of customers who provide 80% of earnings, writes Paul Nadler. Page 9 CREDIT/DEBIT/ATMs: SEVERAL EMERGING technologies, notably artificial intelligence, will be increasingly and profitably employed by survivors in the business as the payment systems industry moves into the 21st century, writes investment banker Robert K. Hammer. Page 10 FIRST DATA has joined Celltel Data to create a wireless credit authorization service that can be used at restaurants, parking garages, toll booths, limousine services, and other mobile locations. Page 11 TECHNOLOGY: FIRST UNION has become the first banking company to sign with Open Market Inc. to deliver home banking and related commercial services over the Internet. Page 15 BANCTEC SYSTEMS has launched an office workflow system that it hopes will let it tap into a quickly growing document management market. Page 17 INVESTMENT PRODUCTS: PROFITS ON SALES of fixed-income securities have eclipsed earnings from annuities at First Chicago's brokerage, and they're closing in on mutual funds. Page 18 MANAGING RETIREMENT savings has long been a major part of Kemper's mutual fund business, but now the company is bringing that focus to its bank sales effort. Page 19 MORTGAGES: DESPITE HIGHER interest rates and production volume, home equity loan delinquencies declined 16% last year, according to a study by the National Second Mortgage Association. Page 14 FHA MORTGAGES, as usual, showed the highest delinquency rates in the nation in the fourth quarter, even as the overall delinquency rate made its biggest jump in four years, according to a Mortgage Bankers Association survey. Page 14 FINANCE: CITICORP is leading syndication of a $6 billion loan to refinance a $4 billion Citicorp-led credit to Canada, which will use the additional $2 billion to prop up its currency. Page 22

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