| Notice
of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control
Week ending 03/06/1999
None
None
| Type |
Application |
Ending date of comment period |
| 4(c)(8) |
Wells Fargo & Company, San Francisco, California, together with
Norwest Mortgage, Inc., and Norwest Ventures LLC, both of Des Moines,
Iowa, to engage in a joint venture through the sale of 50 percent
of Norwest Pinnacle Mortgage, LLC, to Dickson Realty, Inc., both of
Reno, Nevada. |
Fed Reg - 03/23/1999 |
| 4(c)(8) |
Wells Fargo & Company, San Francisco, California, together with
Norwest Mortgage, Inc., and Norwest Ventures LLC, both of Des Moines,
Iowa, to engage in a joint venture through the sale of 50 percent
of Vintage Capital, San Jose, California, to Quail Hill Investments,
Inc., San Jose, California, and 5 percent to RAS Financial Services,
Inc., Pases Verdes Estates, California. |
Fed Reg - 03/25/1999 |
| Type |
Application |
Ending date of comment period |
| 3(a)(5)(C) |
Farmers & Merchants Bancorp, Lodi, California, to become a bank
holding company by acquiring Farmers & Merchants Bank of Central
California, Lodi, California. |
|
| Waiver |
East West Bancorp, San Marino, California, requested a waiver of
any Bank Holding Company Act application requirement in connection
with its proposed acquisition of First Central Bank, N.A., Cerritos,
California, which will subsequently be merged into East-West Bank,
San Marino, California. |
|
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.
|
