| Notice
of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control
Week ending 04/10/1999
None
None
None
| Type |
Application |
Ending date of comment period |
| Member |
Pacific Liberty Bank (In Organization), Huntington Beach, California,
to become a member of the Federal Reserve System. |
|
| 3(a)(5)(C) |
BNW Bancorp, Bellingham, Washington, to become a bank holding company
by acquiring Bank Northwest, Bellingham, Washington. |
|
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 FranciscKû`
|
