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Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 1/23/98

  • Section I - Applications Subject to Newspaper Notice Only
  • Section II - Applications Subject to Both Newspaper and Federal Register Notice
  • Section III - Applications Subject to Federal Register Only
  • Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice
  • Section V - Availability of CRA Public Evaluations

    • Section I
    Applications Subject to Newspaper Notice Only

    None

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    3(a)(1) J,J & B Capital, L.P., Los Angeles, California, to become a bank holding company by acquiring Founders National Bank of Los Angeles, Los Angeles, California. * Newspaper 2/12/98
    Fed Reg 2/23/98
    3(a)(5) First Savings Bank of Washington Bancorp, Inc., Walla Walla, Washington, to merge with Towne Bancorp, Inc., Woodinville, Washington, and thereby acquire 100 percent of Towne Bank, Woodinville, Washington. * Newspaper 2/16/98
    Fed Reg 2/11/98

    Section III
    Applications Subject to Federal Register Only

    None

    Section IV
    Applications Not Subject to Federal Register Notice or Newspaper Notice

    None

    Section V
    Publicly available CRA evaluations

    The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

    The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

    A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

    The federal bank regulators use the following four performance levels to rate an institution's performance under CRA:

    Outstanding
    Satisfactory
    Needs to improve
    Substantial noncompliance

    The following state member banks have been examined and their CRA public evaluations are now available:

    RSSD number Institution/ Location Examination
    date    		 CRA
    public date    		 CRA
    rating    		 Exam type
    Large bank Small bank
    1864197 Oak Valley Bank
    125 N Third Avenue
    P.O. Box 98
    Oakdale, CA 95361
    (209) 848-2265
    		 9/22/97 1/20/98 S

    X
    785062 Santa Barbara Bank & Trust
    1021 Anacapa Street
    P.O. Drawer JJ
    Santa Barbara, CA 93102-0119    		 8/25/97 1/21/98 S X

    The above listing has been prepared as a courtesy by the Federal Reserve Bank of San Francisco, and is not intended to replace formal notices required by statute or regulation; the Reserve Bank assumes no responsibility for errors or omissions.

    *Subject to CRA.