The Federal Reserve Bank of San Francisco
Home Careers Fed Links Subscriptions
Banking Information
Notice of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control

Week ending 01/29/2000

  • 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 Santa Lucia Bank, Atascadero, California, to establish a branch office at 1801 South Broadway, Santa Maria, California. * Newspaper - 02/11/2000

    Section II
    Applications Subject to Both Newspaper and Federal Register Notice

    Type Application Ending date of comment period
    3(a)(3) Wells Fargo & Company, San Francisco, California, to acquire Napa National Bancorp, Napa, California, and thereby indirectly acquire their wholly-owned subsidiaries. *

    Newspaper - 02/18/2000
    Fed Reg - 02/22/2000

    3(a)(3) Wells Fargo & Company, San Francisco, California, to acquire Michigan Financial Corporation, Marquette, Michigan, and thereby indirectly acquire their wholly-owned subsidiares. * Newspaper - 02/28/2000
    Fed Reg - N/Avail
    3(a)(1) Scottsdale Bancorp, Woodbury, Minnesota, to become a bank holding company by acquiring Scottsdale Community Bank, Scottsdale, Arizona. * Newspaper - N/Avail
    Fed Reg - 02/22/2000

    Section III
    Applications Subject to Federal Register Only

    Type Application Ending date of comment period
    4(c)(8) Wells Fargo & Company, San Francisco, California, to acquire Michigan Financial Life Insurance Company, in connection with their proposed acquisition of Michigan Financial Corporation, both of Marquette, Michigan. Fed Reg - N/Avail

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

    None.

    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 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.