Notice of Formations & Mergers of, &
Acquisitions by, BHCs; Change in Bank Control
Week ending 10/03/98
None
| Type |
Application |
Ending date of comment period |
| 3(a)(5) |
Santa Barbara Bancorp, Santa Barbara, California, to merge with
Pacific Capital Bancorp, Salinas, California, and thereby indirectly
acquire First National Bank of Central California, Salinas, California.
*
|
Newspaper 10/29/1998
Fed Reg 10/29/1998
|
| 3(a)(1) |
East West Bancorp, Inc., San Marino, California, to become a bank
holding company by acquiring East-West Bank, San Marino, California.
* |
Newspaper 10/29/1998
Fed Reg 10/31/1998 |
| 3(a)(3) |
Security Bank Holding Company and Security Bank Holding Company
ESOP, both of Coos Bay, Oregon, to acquire Oregon State Bank (In Organization),
Corvallis, Oregon. * |
Newspaper N/Avail
Fed Reg N/Avail |
| CIC |
Franklin Mutual Fund Series, Inc., Short Hills, New Jersey, to increase
their ownership up to 14.9 percent of Western Bancorp, Newport Beach,
California. * |
Newspaper N/Avail
Fed Reg N/Avail |
None
None
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.
|
