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 04/22/2000

  • 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 Rancho Bernardo Community Bank, San Diego, California, to establish a branch office at 3412 College Avenue, San Diego, California. *

    Newspaper -
    05/12/2000

    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 1st Choice Financial Corporation, and thereby indirectly acquire its wholly-owned subsidiary, 1st Choice Bank, both of Greeley, Colorado. *

    Newspaper -
    05/19/2000
    Fed Reg -
    05/19/2000

    3(a)(5) Frontier Financial Corporation, Everett, Washington, to merge with Liberty Bay Financial Corporation, and thereby indirectly acquire its wholly-owned subsidiary, North Sound Bank, both of Poulsbo, Washington. * Newspaper -
    05/19/2000
    Fed Reg -
    05/15/2000
    3(a)(1) PBOC Holdings, Inc., to become a bank holding company by acquiring People's Bank of California, both of Los Angeles, California.

    Newspaper -
    N/Avail
    Fed Reg -
    05/22/2000


    Section III
    Applications Subject to Federal Register Only

    None.

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

    Type Application  
    4(c)(8) CB Bancshares, Inc., Honolulu, Hawaii, to engage in data processing activities through a yet-to-be-named wholly-owned subsidiary.  

    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.

    *Subject to CRA.