Notice of Formations & Mergers of, &
Acquisitions by, BHCs; Change in Bank Control
Week ending 10/24/97
None
| Type |
Application |
Ending date of comment period |
| 3(a)(1) |
Timberland Bancorp, Inc., to become a bank holding company by acquiring
Timberland Savings Bank, SSB, both of Hoquiam, Washington. * |
Newspaper N/Avail
Fed Reg 11/21/97 |
| 3(a)(1) |
Pedcor Bancorp, Indianapolis, Indiana, to become a bank holding
company by acquiring International City Bank, N.A., Long Beach, California.
* |
Newspaper 11/21/97
Fed Reg 11/21/97 |
| 3(a)(5) |
Zions Bancorporation, Salt Lake City, Utah, to acquire by merger
Vectra Banking Corporation, and its wholly-owned subsidiary, Vectra
Bank, both of Denver, Colorado. * |
Newspaper 11/20/97
Fed Reg 11/20/97 |
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:
Outstanding
Satisfactory
Needs to improve
Substantial noncompliance
The following state member banks have been examined and their CRA public
evaluations are now available:
None
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.
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