Notice of Formations & Mergers of, &
Acquisitions by, BHCs; Change in Bank Control
Week ending 08/08/98
None
None
None
| Type |
Application |
Ending date of comment period |
| COM |
Pacific Century Financial Corporation, Honolulu,
HI, request for relief of commitment made in 1990 in connection with
the acquisition of FirstFed Americas, Inc., Honolulu, HI, not to convert
the charter of the thrift, First Federal Savings and Loan Association
of America, Honolulu, HI, or merge into a different type of institution,
without the prior approval of the Federal Reserve System. |
|
| Waiver |
Zions Bancoproration, Salt Lake City, Utah, and its
subsidiary, Val Cor Bancorporation, Inc., Cortez, Colorado, requests
waiver of any Bank Holding Company Act application requirement in
connection with the proposed acquisitions of: 1) Eagle Holding Company
and its wholly-owned subsidary, Eagle Bank, both of Broomfield, Colorado;
2) Mountain Financial Holding Company and its wholly-owned subisidary,
Mountain National Bank, both of Woodland Park, Colorado; and 3) Kersey
Bancorp, Inc., and its wholly-owned subsidiary, Independent Bank,
both of Kersey, Colorado. |
|
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:
| O |
= |
Outstanding |
| S |
= |
Satisfactory |
| NI |
= |
Needs to improve |
| SN |
= |
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
LrgBk |
Exam type
SmBk |
| 808260 |
Farmers & Merchants Bank of
Central California
121 Pine Street
P.O. Box 3000
Lodi, CA
(209) 334-1101 |
3/16/98 |
8/07/98 |
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.
|
