The Federal Reserve Bank of San Francisco
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Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 05/01/1999

  • 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

    None

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    3(a)(3)

    The Sanwa Bank, Limited, Osaka, Japan, to acquire up to 32 percent of The Toyo Trust and Banking Company, Limited, Tokyo, Japan, which owns Toyo Trust Company of New York, New York, New York. *

    Newspaper - N/Avail
    Fed Reg - N/Avail
    3(a)(3) Wells Fargo & Company, San Francisco, California, to acquire Eastern Heights Bank, Maplewood, Minnesota. * Newspaper - 05/28/1999
    Fed Reg - 05/14/1999
    3(a)(3) Wells Fargo & Company, San Francisco, California, to acquire Mustang Financial Corporation, Rio Vista, California. * Newspaper - 05/23/1999
    Fed Reg - 05/14/1999

     

    Section III
    Applications Subject to Federal Register Only

    Type Application Ending date of comment period
    4(c)(8) Philippine National Bank, Metro Manila, The Philippines, and Century Holding Corporation, Beverly Hills, California, to acquire PNB Remittance Centers, Inc., Los Angeles, California, and thereby engage in money remittance activities. Fed Reg - 05/20/1999
    4(c)(8)

    Dai-Ichi Kangyo Bank, Tokyo, Japan, to indirectly acquire Newcourt Credit Group, Inc., Toronto, Canada, through The CIT Group, Inc., New York, New York.

    Fed Reg - N/Avail


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

    Type Application Ending date of comment period
    Member

    Santa Monica Bank, Santa Monica, California, to become a member of the Federal Reserve System.

     

    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
    964362 Capital Bank of North County
    2602 El Camino Real
    P.O. Box 9007
    Carlsbad, CA 92018-0807
    (760) 434-3344    		 01/19/1999 04/26/1999 S

    X    

    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.