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

Week ending 04/03/1999

  • 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
    Member Cerritos Valley Bank, Norwalk, CA, to become a member of the Federal Reserve System. * Newspaper - 04/25/1999

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    None

    Section III
    Applications Subject to Federal Register Only

     
    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 New England Home Loans, LLC, Hamden, Connecticut, to Beazley Mortgage, LLC, New Haven, Connecticut. Fed Reg - 04/23/1999


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

    Type Application Ending date of comment period
    Member County Bank, Merced, California, to become a member of the Federal Reserve System.  
    Member Sun Country Bank, Victorville, California, to become a member of the Federal Reserve System.  
    Waiver Bank of Idaho Holding Company, Idaho Falls, Idaho, requests a waiver of any Bank Holding Company Act application requirement in connection with its proposed acquisition of Eagle Rock Savings Bank, Kennewick, Washington, and the subsequent merger of Eagle Rock Savings Bank with and into Bank of Eastern Idaho, Idaho Falls, Idaho.  

     

    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
    Lrg Bk     SmBk
    777366 Bank of the Orient
    233 Sansome Street
    San Francisco, CA 94126
    (415) 338-0668     		11/30/1998 04/02/1999 S X    

     

    The above listing has been prepared as a courtesy by the Federal Reserve Bank of San FU°