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

Week ending 09/26/98

  • 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

    Type Application Ending date of comment period
    Branch

    Farmers & Merchants Bank of Rockford, Spokane, Washington, to establish a branch office at 508 West Third, Spokane, Washington. *

    		Newspaper 10/11/1998

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    CIC

    Matt Calvin Packard and Mark William Packard, Springville, Utah, to each retain voting shares of The F. Calvin Packard Family Limited Partnership, Springville, Utah, and thereby indirectly acquire Central Bancorporation and Central Bank, both of Provo, Utah. *

    Newspaper 09/23/1998
    Fed Reg 10/12/1998

    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
    4(c)(8) Imperial Bancorp, Los Angeles, California, to acquire First Houston Financial Services, Inc., Houston, Texas, and thereby engage in nonbanking activities.
    Member

    McKenzie State Bank, Springfield, Oregon, to become a member of the Federal Reserve System.

     

     
    Investment BankAmerica International Investment Corporation, Chicago, Illinois, to make an investment of $40 million in Spanish Telecommunications Limited, S.a.r.l., Luxembourg.

     

     

    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:

    RSSD
    number


    Institution/Location

    Examination
    date

    CRA
    public date

    CRA
    rating

    Exam type

    LrgBk

    SmBk

    181169

    Foothill Independent Bank
    510 S Grand Avenue
    P.O. Box 1297
    Glendora, CA 91741-4207
    (818) 963-8551

    04/27/1998

    09/24/1998

    S

    X

    		 

    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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