| Notice
of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control
Week ending 03/04/2000
None.
| Type |
Application |
Ending date of comment period |
| 3(a)(5) |
Expedited notice by Greater Bay Bancorp, Palo Alto, California,
to merge with Coast Bancorp and thereby indirectly acquire Coast Commercial
Bank, both of Santa Cruz, California.* |
Newspaper -
4/11/2000
Fed Reg -
3/30/2000 |
None.
| Type |
Application |
Ending date of comment period |
| 4(c)(8) |
Expedited notice by Wells Fargo & Company, San Francisco, California,
to acquire a 35 percent equity interest in Billpoint, Inc., San Jose,
California. |
|
| Waiver |
Bank of the Sierra, Porterville, California, requests a waiver of
any Bank Holding Company application requirement in connection with
the proposed acquisition of Sierra National Bank, Tecachapi, California. |
|
| 4(c)(8) |
Expedited notice by First Security Corporation, Salt Lake City,
Utah, to acquire an indirect ownership and control of 38 percent of
more of Bank Network Securities, Inc., Chicago, Illinois. |
|
| 4(c)(8) |
Expedited notice by Wells Fargo & Company, San Francisco, California,
to acquire 100 percent of Servus Financial Corporation, Herndon, Virginia. |
|
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.
*Subject to CRA.
|
