The Federal Reserve Bank of San Francisco
Home Careers Fed Links Subscriptions
Banking Information
Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 3/13/98

  • 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)(3) Security Bank Holding Company, Coos Bay, Oregon, to acquire Family Security Bank (In Organization), Brookings, Oregon.* Newspaper 4/19/98
    Fed Reg 3/28/98

    Section III
    Applications Subject to Federal Register Only

    Type Application Ending date of comment period
    4(c)(8) Neighborhood Bancorp, San Diego, California, to engage in community development activities through Neighborhood Housing Development Corporation, San Diego, California. Fed Reg 4/02/98

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

    Type Application Ending date of comment period
    Foregin Branch Bank of America NT&SA, San Francisco, California, to establish a branch office in Caracas, Venezuela. None
    COM Commerce Security Bancorp, Inc., Huntington Beach, California, requests a waiver of any Bank Holding Company Act application requirement in connection with its acquisition of Eldorado Bancorp, not to incur debt without prior Federal Reserve approval. None
    S/R Eldorado Bank, Tustin, California, to pay a dividend of $900,000, to Commerce Security Bancorp, Inc., Huntington Beach, California. 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
    876465 Spectrum Bank
    2417 W. Whittier
    Boulevard
    Montebello, CA
    90640-3040
    (213) 726-1411    		 11/10/97 3/11/98 Satisfactory 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.