Notice
of Formations & Mergers of, & Acquisitions by, BHCs
Week ending 3/03/2001
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Type
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Application
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Ending date of
comment period
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Branch
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Nevada First Bank, Las Vegas, Nevada, to establish a branch office
at 777 N. Rainbow Boulevard, Las Vegas, Nevada.*
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Newspaper – N/Avail
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* Subject to the provisions of the Community Reinvestment Act
Newspaper - Newspaper Comment Period Ending Date
N/Avail - Not Available (Not yet available; Not available at this
time)
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Type
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Application
|
Ending date of
comment period
|
| None.
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|
Type
|
Application
|
Ending date of
comment period
|
|
Type
|
Application
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3(a)(5)(C)
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South Bay Bancorp, Torrance, California, to become a bank holding
company by acquiring South Bay Bank, N.A., Torrance, California.
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|
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:
|
RSSD
number
|
Institution/Location
|
Examination
date
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CRA
public date
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CRA
rating
|
Exam type
|
|
LrgBk
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SmBk
|
|
none
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Section VI - CRA Examinations
Scheduled 1st Quarter of 2001
None.
*Subject to CRA.
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