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 01/18/2003

  • 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
    CIC Notice by Alan Wilber Rolley, Dallas, Texas, and Blake Alan Rolley, Flagstaff, Arizona, acting in concert, to increase their ownership up to 33.06 percent of Arizona Bancshares, Inc., Flagstaff, Arizona.* Newspaper – N/Avail
    Fed Reg – 02/04/2003

    * 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
    None

     

     


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

    Type Application

    4c8 Wells Fargo & Company, San Francisco, California, Wells Fargo Financial Services, Inc., and Wells Fargo Financial, Inc., both of Des Moines, Iowa, to indirectly acquire through their wholly owned subsidiary, Wells Fargo Financial Leasing, Inc., Des Moines, Iowa, substantially all of the assets and assume certain liabilities of Telmark LLC, DeWitt, New York, and its subsidiaries, Telease Financial Services, Ltd., Ontario, Canada, Telmark Lease Funding II, LLC and Telmark Lease Funding III, LLC, DeWitt, New York.  

    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
    995076 Cache Valley Bank
    101 N. Main Street
    Logan, Utah
    84321
    435-753-3020     		09/23/2002 01/14/2003 S   X
    2453132 Pierce Commercial Bank
    5821 S. Sprague Ct.
    Tacoma, Washington
    98409
    235-471-1500     		09/23/2002 01/17/2003 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.