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 08/24/2002

  • 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
    Branch The Hongkong Chinese Bank, Ltd., Hong Kong, to acquire the New York federal insured branch and the Los Angeles federal limited branch offices of CITIC Ka Wah Bank, Limited, Hong Kong. Newspaper - N/Avail
    Newspaper - Newspaper Comment Period Ending Date
    N/Avail - Not Available (Not yet available; Not available at this time)

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


    Type
    Application     		Ending date of
    comment period
    3(a)(1) Sumitomo Mitsui Financial Group, Inc., Tokyo, Japan, to become a bank holding company by acquiring 100 percent of Manufacturers Bank, Los Angeles, California.* Newspaper - N/Avail
    Fed Reg - 9/23/2002

    * Subject to the provisions of the Community Reinvestment Act
    Fed Reg - Federal Register Comment Period Ending Date
    Newspaper - Newspaper Comment Period Ending Date
    N/Avail - Not Available (Not yet available; Not available at this time)

    Section III - Applications Subject to Federal Register Only


    Type
    Application     		Ending date of
    comment period

    4(c)(8)

    Sumitomo Mitsui Financial Goup, Inc., Tokyo, Japan, to engage in nonbanking activities through the acquisition of SMBC Capital Markets, Inc., SMBC Leasing and Finance, Inc., SMBC Securities, Inc., Daiwa SB Investments (USA), Ltd., and JRI America, Inc., all of New York, New York.

    Fed Reg - 9/23/2002

    Fed Reg - Federal Register Comment Period Ending Date
    N/Avail - Not Available (Not yet available; Not available at this time)

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

    Type Application

    SMB Other Santa Lucia Bank, Atascadero, California, to issue subordinated notes with an aggregate value of up to $2 million.  

    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
    181169

    Foothill Independent Bank
    510 S. Grand Ave
    Glendale, CA
    91741
    (626) 963-8551

    		 04/22/2002 08/20/2002 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 for Quarter of

    Institution Location
    None  

    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.