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 05/15/1999

  • 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 VI - CRA Examinations Scheduled for 3rd Quarter of 1999

    • 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)

    Frontier Financial Corporation, Everett, Washington, to acquire up to 19.9 percent of AEA Bancshares, Inc., and indirectly acquire its subsidiary, Asia-Europe-Americas Bank, both of Seattle, Washington. *

    Newspaper - 05/23/1999
    Fed Reg - 05/21/1999

    Section III
    Applications Subject to Federal Register Only

    Type Application Ending date of comment period
    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, and thereby engage in nonbanking activities.

    Fed Reg - 06/01/1999

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

    Type Application Ending date of comment period
    4(c)(8) Eggemeyer Advisory Corp., WJR Corp., Castle Creek Capital LLC, Castle Creek Capital Partners Fund IIa, L.P., and Castle Creek Capital Partners Fund IIb, L.P., all of Rancho Santa Fe, California, to acquire Coastal Credit, LLC, Virginia Beach, Virginia.  

    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
    133869 Eldorado Bank
    24012 Calle de la Plata, Suite 150
    P.O. Box 2949
    Laguna Hills, CA 92654
    (949) 830-7740    		 11/30/1998 05/10/1999 S    X
    272469 First Security Bank of Nevada
    530 Las Vegas Boulevard, South
    P.O. Box 19250
    Las Vegas, NV 89132-0250
    (702) 251-1100    		 01/11/1999 05/11/1999 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.

    Section VI
    CRA Examinations Scheduled for 3rd Quarter of 1999

    Institution Location
    Bank of Utah Ogden, Ut
    First American Bank Rosemead, CA
    First State Bank Flagstaff, AZ
    Hacienda Bank Santa Maria, CA
    Hanmi Bank Los Angeles, CA
    Rancho Bernardo Community Bank Rancho Bernardo, CA
    Security First Bank Fullerton, CA
    Sun Country Bank Apple Valley, CA
    Vintage Bank Napa, CA
    Western Security Bank Scottsdale, AZ

    The inclusion on the list of institutions that are scheduled to undergo CRA examinations in the next calendar quarter is not determinative of whether the institution will be examined in that quarter. Reserve Banks may need to defer a planned examination or conduct an unforeseen examination because of scheduling difficulties or other circumstances.

    *Subject to CRA.