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Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 03/20/1999

  • 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
    18(c) First Security Bank of Nevada, Las Vegas, Nevada, to merge with Comstock Bank, Reno, Nevada.* Newspaper - 04/05/1999
    18(c) First Security Bank of Nevada, Las Vegas, Nevada, to merge with Nevada Banking Company, Stateline, Nevada. * Newspaper - 04/05/1999
    Branch The Bank of Orange County, Fountain Valley, California, to establish a branch office at 12070 Telegraph Road, Santa Fe Springs, California. * Newspaper - 04/04/1999
    Branch The Bank of Orange County, Fountain Valley, California, to establish a branch office at 8345 East Firestone Boulevard, Downey, California. * Newspaper - 04/05/1999

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    3(a)(1) Belvedere Capital Partners LLC, to become a bank holding company by acquiring California Community Financial Institutions Fund, L.P., both of San Francisco, California. * Newspaper - 04/12/1999
    Fed Reg - 04/09/1999
    3(a)(5) First Security Corporation, Salt Lake City, Utah, to merge with Comstock Bancorp, Reno, Nevada. * Newspaper - 04/05/1999
    Fed Reg - 04/02/1999
    3(a)(5) First Security Corporation, Salt Lake City, Utah, to merge with XEON Financial Corporation, Stateline, Nevada.* Newspaper - 04/05/1999
    Fed Reg - 04/02/1999
    CIC Milton and Arlene Herbert, Myrtle Creek, Oregon, to increase their ownership in Umpqua Holdings Corporation, Roseburg, Oregon. * Newspaper - N/Avail
    Fed Reg - 04/12/1999

    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) Notice from United Bancorp, Roseburg, Oregon, to engage in mortgage lending activities through DNB Mortgage Company, Roseburg, Oregon.  
    COM The San Francisco Company, San Francisco, California, to terminate commitments in connection with the proposed re-incorporation under Delaware law.  
    3(a)(5)(C) First Bancshares, Inc., to become a bank holding company through the acquisition of First Bank of San Luis Obispo, both of San Luis Obispo, California.  
    4(c)(8) Wells Fargo & Company, San Francisco, California, to indirectly acquire 12.74 percent of Payment Net Inc., Pleasanton, California, through Norwest Services, Inc.  

    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:

    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.