The Federal Reserve Bank of San Francisco
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Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 10/31/97

  • 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 VI - CRA examinations scheduled

    • Section I
    Applications Subject to Newspaper Notice Only

    Type Application Ending date of comment period
    Branch First Security Bank of Nevada, Las Vegas, Nevada, to establish a branch office at 900 North Green Valley Parkway, Henderson, Nevada. * Newspaper 11/14/97
    Branch M&I Thunderbird Bank, Phoenix, Arizona, to establish a branch office at 19052 R.H. Johnson Boulevard, Sun City West, Arizona. * Newspaper 11/20/97

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    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 11/17/97

    Fed Reg 11/21/97
    CIC Eugene D. Fortner and Dolores Fortner Family Trust, Glendale, California, to increase their ownership to more than ten percent of Verdugo Banking Company, Glendale, California. *

    Newspaper N/Avail

    Fed Reg 11/18/97
    CIC Michael Frank Maluccio, Glendale, California, to increase his ownership to more than ten percent of Verdugo Banking Company, Glendale, California. *

    Newspaper N/Avail

    Fed Reg N/Avail

    Section III
    Applications Subject to Federal Register Only

    None

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

    Type Application Ending date of comment period
    S/R Liberty Bank, South San Francisco, California, to repurchase up to 30,000 shares of its common stock. None
    S/R Verdugo Banking Company, Glendale, California, to repurchase up to 85,000 shares of its common stock. None

    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:

    Outstanding
    Satisfactory
    Needs to improve
    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
    Large bank Small bank
    706768 California United
    16030 Ventura Boulevard
    Encino, CA 91436-4487
    (818) 907-9122    		 6/16/97 10/27/97 Satisfactory

    X

    Section VI
    CRA examinations scheduled

    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.