If we look into this further, we have found that in 1934, in Mankato, Mn. which is only 30 miles from St.Paul, Mn. a company named Southern Discount Company was incorporated. There is little known about this company at this time, although we do know that the same company became Home Equity USA. We do know that this company was in the home mortgage business, and they did thier business as a foriegn corporation in Atlanta, Ga. Their original ID # is B-577(with the state of Minnesota). We also know that Fleet/Boston has many offices in and throughout the Minneapolis
/St.paul area. They seemed to have been merged with Norstar banking system(1st National bank of St. Paul).
Southern Discount Co.
filing # B-577 Mn S.O.S.
original date of filing 8-21-35
chapter 302A
Duration - perpetual
name: Southern Discount Company Mankato, Mn,
Entity type: Domestic Corp.
Entity Status: inactive.
We know that Fleet/ Boston merged with Norstar banking group in the mid eighties, and then renamed themselves Fleet/Boston again. We know that Southern Discount Co. operated in Atlanta, Ga, as a foreign entity. We know that they were a wholly owned company up until 1973. The reason for suspect of a connection with 1st National Bank of St. Paul is, on the back of one stock certificate is a bank stamp and signature from the 1st National Bank of St. Paul, it is veiwable at the website( Patterson is the signature from the bank, it is on the Frank Moran certificate). Also of note, A. King Dixon (president of SD&FC)is listed in the Minn. S.O.S. computer data banks as being a current land owner
in their state, although he has been dead for over 19yrs.??????
Fleet/Boston Financial Corp. purchased or merged with Industrial National Corp(a holding company)
Name: Industrial National Corp.
City: Providence
State: Rhode Island
Institution type: Holding Company
Regulated by: Federal Reserve Board
Ins.: N/A
Activity: Bank Holding Company
Current status: Industrial National Corp. renamed Fleet Financial Group, Inc. 4/ 14/82.
Fleet/Norstar Financial Group, Inc. renamed Fleet financial Group, Inc. 4/16/92
Fleet Financial Group, Inc. renamed Fleet/Boston Financial Corp. B*B 10/1/99
Fleet/Boston financial Corp. B*B renamed Fleet/Boston Financial Corp. 4/18/00
In 1968, Fleet/Boston acquired Industrial National Corp. 8/14/68
Southern Discount Co. merged into a wholly owned subsidiary of Industrial National Corp. 2/27/73
Fleet Mortgage Corp. incorp. 5/23/73 R.I.
Home Equity USA, Inc. incorp. 7/23/73 R.I.
Fleet/Boston Financial Corp. name changed to Fleet/Norstar Financial Group upon merger of Norstar Bancorp, Inc(1st national bank of st.paul),1/1/88
name changed to Fleet Financial Group., 10/1/99
Southern Discount Company renamed Fleet Finance, 1982
Fleet Finance renamed Home Equity USA 1997
Fleet Financial Group renamed Fleet/Boston Corp. 10/1/99
renamed Fleet/Boston Financial Corp. 4/18/00.