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 02/09/2002

  • 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 VI - CRA Examinations Scheduled

    • Section I - Applications Subject to Newspaper Notice Only


    Type


    Application

    Ending date of
    comment period

    None

     


    Section II - Applications Subject to Both Newspaper and Federal Register Notice


    Type


    Application

    Ending date of
    comment period

    None    

    Section III - Applications Subject to Federal Register Only


    Type


    Application

    Ending date of
    comment period

    None

     


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

    Type

    Application

    Waiver

     

    CVB Financial Corp., Ontario, California, requests waiver from filing an application to merge with Western Security Bancorp, Burbank, California, and simultaneously merge with Western Security Bank, N.A., Burbank, California, with and into Citizens Business Bank, Ontario, California.

    		 

    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:

    RSSD
    number


    Institution/Location

    Examination date

    CRA
    public date

    CRA
    rating

    Exam type

    LrgBk

    SmBk

    876465

    		Spectrum Bank
    2417 West Whittier Blvd.
    Montebello, CA 90640    		 10/09/2001 02/05/2002 S   X

    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.

    Section VI - CRA Examinations Scheduled 2nd Quarter of 2002

    Institution Location
    Bank of Los Altos Los Altos, California
    Business Bank of California San Bernardino, California
    Community Bank of Nevada Las Vegas, Nevada
    Foothill Independent Bank Glendora, California
    Idaho Banking Company Boise, Idaho
    North Valley Bank Redding, California
    Six Rivers Bank Eureka, California
    United Security Bank Fresno, California
    Utah Independent Salina, Utah
    Westamerica San Rafael, California

    The inclusion on the list of institutions that are scheduled to undergo CRA examinations in the next calendar quarter is not determinative of whether the institution will be examined in that quarter. Reserve Banks may need to defer a planned examination or conduct an unforeseen examination because of scheduling difficulties or other circumstances.