ALERT 98-8

Type: Unauthorized Banking
Subject: Atlantic Bank, Ltd.
Date: February 23, 1998         

TO:  Chief Executive Officers of all National Banks; all State
     Banking Authorities; Chairman, Board of Governors of the
     Federal Reserve System; Chairman, Federal Deposit Insurance
     Corporation; Conference of State Bank Supervisors; Deputy
     Comptrollers (Districts); District Counsel and Examining
     Personnel

RE:  Atlantic Bank, Ltd. 
     1300 Division St. #200
     Nashville, TN 37203-4023

Information has been received that the subject entity may be
operating a banking business in the United States without
authorization.  Further, the State of Tennessee Department of
Financial Institutions has advised that the subject entity has
not been granted permission to operate in Tennessee. 

Any information which you may have concerning this matter should
be brought to the attention of:
               Office of the Comptroller of the Currency
               Enforcement & Compliance Division
               250 E Street, SW
               Washington, DC  202l9
               Fax (202) 874-5301




                                     
Daniel P. Stipano
Director
Enforcement & Compliance Division