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 12/25/1999

  • 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
    Branch Family Security Bank, Harbor, Oregon, to establish a branch office at 855 Railroad Avenue, Brookings, Oregon. * Newspaper -
    12/06/1999

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    3(a)(1) PremierWest Bancorp to become a bank holding company by acquiring Bank of Southern Oregon, both of Medford, Oregon. *

    Newspaper -
    01/20/2000

    Fed Reg -
    01/21/2000

    3(a)(3) PremierWest Bancorp, Medford, Oregon, to acquire United Bancorp, and thereby indirectly acquire its subsidiary, Douglas National Bank, both of Roseburg, Oregon. *

    Newspaper -
    01/20/2000

    Fed Reg -
    01/21/2000

    Section III
    Applications Subject to Federal Register Only

    Type Application Ending date of comment period
    4(c)(8) PremierWest Bancorp, Medford, Oregon, to acquire DNB Mortgage Company, Roseburg, Oregon. Newspaper -
    01/21/2000

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

    Type Application Ending date of comment period
    Member Bay Bank of Commerce, San Leandro, California, to become a member of the Federal Reserve System.  
    Waiver Nera Bank, N.A., Los Angeles, California, requests a waiver of any Bank Holding Company Act application requirement in connection with its proposed acquisition of Korea First Bank of New York, New York, New York.

     

    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:

    None.

    The above listing has been prepared as a courtesy by the Federal Reserve Bank of San Francisc?ąP