Notice of Formations & Mergers of, &
Acquisitions by, BHCs; Change in Bank Control
No. 97-34
Week ending 8/22/97
This bulletin identifies final domestic applications filed in the Twelfth
Federal Reserve District during the week ended August 22, 1997. The bulletin
is published weekly as a courtesy of the Federal Reserve and does not
constitute notice of these applications. The bulletin also contains a
list (Section V) of those state-member banks which have been examined
for CRA (Community Reinvestment Act) and whose public disclosure assessment
is now available.
Members of the public may comment on an application; however, comments
must be received by the Federal Reserve on or before the last day
of the comment period. The comment period ends no earlier than the date
specified in the newspaper notice and, in the case of change in control
notices and bank holding company applications for which a Federal Register
notice is published, may end later than that date. If you have any questions
concerning procedures that should be followed in commenting on an application,
you may contact Patricia Marshall at the Federal Reserve Bank of San Francisco
at 101 Market Street, San Francisco, California 94105, or by telephone
at 415-974-2963.
If you cannot submit your comments by the end of the period, you may
request an extension of time by contacting the Secretary of the Federal
Reserve Board, Washington, D.C. 20551. Your request for an extension of
time must be~made no later than the last day of the comment period and
should explain why you are unable to submit your comments on time. You
will find more information on how to request additional time in the Code
of Federal Regulations ("CFR") at 12 CFR Section 262.25(B),
49 Federal Register 5603 (February 14, 1984).
In addition to submitting written materials, you may request that a
public meeting or hearing, or both, be held on an application. You should
indicate~the matters that you intend to discuss at such a proceeding and
explain why you could not provide these comments in writing. The Federal
Reserve may request that you attend a private meeting or provide additional
information prior to making a determination on your request for a public
meeting or hearing. For further information on the Board's policy concerning
the holding of public meetings, please see the Board's Policy Statement
for the Handling of Protested Applications found at 12 CFR Section 262.25(C)
and (D). The procedure for requesting a hearing can be found at 12 CFR
Section 262.3(e).
You may also wish to consult the Board's Policy Statement for the Handling
of Protested Applications, found at 12 CFR Section 262.25.
None
Saehan Bancorp, Los Angeles, California, to become a bank holding company
by acquiring Saehan Bank, Los Angeles, California. *
Comment Period Ending Date
Newspaper: Not available Fed. Reg.: 9/19/97
Zions Bancorporation, Salt Lake City, Utah, to acquire by merger, GB
Bancorporation, and its wholly-owned subsidiary, Grossmont Bank, both
of San Diego, California. *
Comment Period Ending Date
Newspaper: 9/21/97 Fed. Reg.: 9/25/97
BankAmerica Corporation, San Francisco, California, to engage in unerwriting
and dealing in debt and equity securities and in obligations of the U.S.;
acting as an investment advisor; providing securities brokerage services;
acting as riskless principal; and acting as agent for private placement
of securities through Robertson, Stevens & Company Group, L.L.C.,
and Robertson, Stevens & Company, Inc., both of San Francisco, California.
Comment Period Ending Date
Fed. Reg.: 9/09/97
Western Holdings Bancorp, Los Altos, California, to become a bank holding
company by acquiring Bank of Los Altos, Los Altos, California.
The CRA public evaluations of the institution(s) below became available
during this week. Information about a particular institution's CRA evaluation
may be obtained directly from the institution.
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.
**Under the rating system an institution's CRA performance is assigned
one of the following four ratings:
- Outstanding record of meeting community credit needs: An institution
has an outstanding record of, and is a leader in, ascertaining and helping
to meet the credit needs of its entire delineated community, including
low- and moderate-income neighborhoods, in a manner consistent with
its resources and capabilities.
- Satisfactory record of meeting community credit needs: An institution
has a satisfactory record of ascertaining and meeting the credit needs
of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
- Needs to improve record of meeting community credit needs: An institution
needs to improve its overall record of ascertaining and helping to meet
the credit needs of its entire delineated community, including low-
to moderate-income neighborhoods, in a manner consistent with its resources
and capabilities.
- Substantial noncompliance in meeting community credit needs: An institution
has a substantially deficient record of ascertaining and helping to
meet the credit needs of its entire delineated community, including
low- to moderate-income neighborhoods, in a manner consistent with its
resources and capabilities.
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