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Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 12/26/98

  • 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)

    Western Acquisitions, LLC, and Western Acquisition Partners, L.P., both of Washington, D.C., to acquire West Coast Bancorp, and thereby indirectly acquire Sunwest Bank, both of Tustin, California. *

    Newspaper - 01/10/1999
    Fed Reg - 01/07/1999

    CIC Eric D. Hovde, Washington, D.C., to increase his ownership up to approximately 10.3 percent of West Coast Bancorp, Tustin, California. * Newspaper - 12/31/1998
    Fed Reg - 12/28/1998
    3(a)(3) Hancock Park Acquisition, L.L.C., and Hancock Park Acquisition, L.P., both of Washington, D.C., to acquire The Bank of Hollywood, Hollywood, California. * Newspaper - 01/15/1999
    Fed Reg - 01/15/1999
    3(a)(1) Business Bank Corporation, Las Vegas, Nevada, to become a bank holding company by acquiring Las Vegas Business Bank, Las Vegas, Nevada. * Newspaper - 01/13/1999
    Fed Reg - 01/15/1999
    3(a)(3) Wells Fargo & Company, San Francisco, California, to acquire Mercantile Financial Enterprises, Inc., and therey indirectly acquire Mercantile Bank, N.A., both of Brownsville, Texas. * Newspaper - 01/01/1999
    Fed Reg - 01/22/1999

    Section III
    Applications Subject to Federal Register Only

    Type Application Ending date of comment period
    4(c)(8)

    Wells Fargo & Company, San Francisco, California, together with Norwest Mortgage, Inc., and Norwest Ventures, Inc., both of Des Moines, Iowa, to sell, through a joint venture, 50 percent of MidAmerican Hoome Services Mortgage, LLC, to Iowa Realty Co., Inc., both of West Des Moines, Iowa.

    Fed Reg - N/Avail


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

    Type Application Ending date of comment period
    4(c)(8)

    Wells Fargo & Company, San Francisco, California, together with Norwest Financial Services, Inc., and Norwest Financial, Inc., both of Des Moines, Iowa, to indirectly acquire certain assets of SunStar Acceptance Corporation, Dallas, Texas.

     
    COM Wells Fargo & Company, San Francisco, California, requested relief of certain commitments made in connection with the merger of Wells Fargo & Company, San Francisco, California, and Norwest Corporation, Minneapolis, Minnesota.  
    208.22(d) of Regulation H California Center Bank, Los Angeles, California, to invest $250,000, in low-income housing through California Equity Fund of 1998, Los Angeles, California.  
    208.22(d) of Regulation H California Center Bank, Los Angeles, California, to: 1) make an equity investment of $3,500; and 2) make a contribution to the loan pool of $35,000, in Bankers' Small Business Community Development Corporation of Orange County, Orange, California.  

    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:

    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.