The Federal Reserve Bank of San Francisco
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Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 3/20/98

  • 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

    Type Application Ending date of comment period
    18(c) Bank of Commerce, San Diego, California, to merge with Rancho Vista National Bank, Vista, California. * Newspaper 4/10/98

    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 Employee Stock Ownership Plan and Security Bank Holding Company, both of Coos Bay, Oregon, to acquire Family Security Bank (In Organization), Brookings, Oregon. * Newspaper 3/28/98
    Fed Reg 4/10/98
    CIC Learner Family 1998 Trust, Walnut Creek, California, to acquire all of the outstanding shares of Learner Financial Corporation, Walnut Creek, California. * Newspaper N/Avail
    Fed Reg N/Avail

    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:

    None

    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.