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 08/14/1999

  • 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 4th Quarter of 1999

    • Section I
    Applications Subject to Newspaper Notice Only

    Type Application Ending date of comment period
    Branch Spectrum Bank, Montebello, California, to establish a branch office at 6074 Warner Avenue, Huntington Beach, California. * Newspaper - 08/09/1999

     

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    3(a)(5) Harbor Bancorp, Inc., Aberdeen, Washington, to merge with Pacific Financial Corporation, Long Beach, Washington. * Newspaper - 08/20/1999
    Fed Reg - 09/10/1999

    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 Southwest Partners, Inc., both of Des Moines, Iowa, to engage in a joint venture through the sale of 50 percent of 1st Com Mortgage, Palm Springs, California, to First Com Mortgage, Inc., Palm Desert, California, and 5 percent to RAS Financial Services, Inc., Palos Verdes Estates, California. Fed Reg - N/Avail


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

    Type Application Ending date of comment period
    Waiver Zions Bancorporation, Salt Lake City, Utah, request for waiver of any Bank Holding Company Act application requirement in connection with the merger of Pioneer Bancorporation, Reno, Nevada, and the merger of Pioneer Citizens Bank of Nevada, Reno, Nevada, with and into Nevada State Bank, Las Vegas, Nevada.  
    Waiver

    Imperial Bancorp, Inglewood, California, request for waiver of any Bank Holding Company Act application requirement in connection with the merger of Imperial Mutual Savings Bank, Kirkland, Washington, with and into Imperial Bank, Inglewood, California.

     

    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
    62763 Millennium Bank
    180 Sansome Street
    San Francisco, CA 94104
    (415) 434-2265    		 04/27/1999 08/09/1999 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 4th Quarter of 1999

    Institution Location
    Bay Area Bank Redwood City, CA
    County Bank Merced, CA
    Golden Gate Bank San Francisco, CA
    Hanmi Bank California Los Angeles, CA
    Liberty Bank South San Francisco, CA
    Mid-Peninsula Bank Palo Alto, CA
    Pacific Mercantile Bank Newport Beach, CA
    Peninsula Bank of Commerce Millbrae, CA
    Security First Bank Fullerton, CA
    Vintage Bank Napa, CA

    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.