Notice of Formations & Mergers of, &
Acquisitions by, BHCs; Change in Bank Control
Week ending 09/12/98
None
| Type |
Application |
Ending date of comment period |
| 3(a)(5) |
California Community Financial Institutions Fund Limited Partnership,
Belvedere Capital Partners, Inc., both of San Francisco, California,
and California Financial Bancorp, Newport Beach, California, to acquire
Downey Bancorp, and thereby indirectly acquire Downey National Bank,
both of Downey, California. * |
Newspaper N/Avail
Fed Reg 10/12/1998 |
| 3(a)(3) |
California Community Financial Institutions Fund Limited Partnership,
Belvedere Capital Partners, Inc., both of San Francisco, California,
and California Financial Bancorp, Newport Beach, California, to acquire
The Bank of Orange County, Fountain Valley, California. * |
Newspaper N/Avail
Fed Reg 10/12/1998
|
None
| Type |
Application |
Ending date of comment period |
| Member |
East County Bank, N.A., Antioch, California, to become a member
of the Federal Reserve System. |
|
| Waiver |
Stockmans Financial Group, Elk Grove, California, requests a waiver
of any Bank Holding Company Act application requirement in connection
with its proposed acquisition of Stockmans Bank, Elk Grove, California. |
|
| S/R |
Eldorado Bank, Tustin, California, to pay a $1 million dividend
to it’s parent, Commerce Security Bancorp, Inc., Laguna Hills,
California. |
|
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:
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.
|
