| Notice
of Formations & Mergers of, & Acquisitions by, BHCs; Change in Bank Control
Week ending 08/26/2000
| Type |
Application |
Ending date of comment period |
| FBSEA |
Grand Comercial Bank, Taipei, Taiwan, to establish a
wholesale branch office in the vicinity of Colima and Agusa Avenues,
City of Industry, California. * |
Newspaper - 08/06/2000 |
| Type |
Application |
Ending date of comment period |
| 3(a)(1) |
BOU Bancorp, Inc., to become a bank holding company
by acquiring Bank of Utah, both of Ogden, Utah. * |
Newspaper - 09/14/2000
Fed Reg - 09/18/2000 |
| Type |
Application |
Ending date of comment period |
| 4(c)(8) |
The Sumitomo Bank, Limited, Osaka, Japan, to engage
in nonbanking activities through the acquisition of the nonbank subsidiaries
of The Sakura Bank, Limited, Tokyo, Japan. |
Fed Reg - 09/22/2000 |
| Type |
Application |
Ending date of comment period |
| 4(c)(8) |
BYL Bancorp, Orange, California, to engage in commercial
loan activities through the acquisition of CNL Commercial Finance,
Inc., Mission Viejo, California. |
|
| Member |
Heritage Bank East Bay, Fremont, California, to become
a member of the Federal Reserve System. |
|
| Member |
Heritage Bank South Valley, Morgan Hill, California,
to become a member of the Federal Reserve System. |
|
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.
Section VI - CRA Examinations Scheduled
None.
*Subject to CRA.
|
