State of California

Department of Financial Institutions

http://www.dfi.ca.gov


Monthly Bulletin


Volume 3, Number 10

April, 2000


Message from the Commissioner

I am pleased Governor Gray Davis appointed me as Commissioner of Financial Institutions on April 4, 2000.  It is a honor for me to serve in Governor Davis' Administration and to be a part of the Business, Transportation and Housing Agency headed by Secretary Maria Contreras-Sweet.  I look forward to working closely with the staff of the Department of Financial Institutions, all financial service providers, California consumers, and the other state and federal regulators.  My immediate goal is to maintain and improve the high quality of regulation provided by the Department.  In order to do this I am giving immediate attention to filling open positions.  Please see the information enclosed, access our web site at www.dfi.ca.gov/careers.htm or call 415-263-8531.

I look forward to working with each of you. Please contact me at San Francisco by e-mail at dmeyer@dfi.ca.gov or by telephone at 415-263-8507.

Monthly Activity Report

Commercial Bank Activity

New Bank

SOUTHLAND BUSINESS BANK
Location: 16008 Foothill Boulevard, Irwindale, Los Angeles County (91706)
Opened: 4/26/00
Capitalization: $5,073,223
Jim Davis, President & Chief Executive Officer
William A. Schroeder, Executive Vice President & Chief Credit Officer
Brian G. Hollister, Senior Vice President & Chief Financial Officer
Phone: (626) 334-3800

Conversion to State Charter

People’s Bank of California, Los Angeles, to convert from a federal savings bank to a state chartered bank under the same name
Filed: 4/13/00

Merger

Lippo Bank, San Francisco, with and into First Bank of California, Sacramento
Approved: 4/24/00

Acquisition of Branch Offices

Bank of the West, San Francisco, California, to acquire 21 branch offices of First Security Bank, N.A., Salt Lake City, Utah
Withdrawn: 4/1/00

Bank of the West, San Francisco, California, to acquire 47 branch offices of Zions First National Bank, Salt Lake City, Utah
Withdrawn: 4/1/00

Sale of Trust Business Units

Sanwa Bank California, San Francisco, to sell to Arrowhead Trust Incorporated, San Bernardino, a partial trust business unit
Approved: 4/4/00
Effected: 4/21/00

Sanwa Bank California, San Francisco, to sell a partial trust business unit to Citizens Business Bank, Ontario
Effected: 4/14/00

Trust Company Activity

Voluntary Surrender of License

IMPERIAL TRUST COMPANY
201 North Figueroa Street, Los Angeles
Discontinued: 4/12/00

Foreign Bank Activity

Foreign (Other Nation) Bank – To Establish Office

BANCA INTESA
(Milan, Italy)
One Embarcadero Center, San Francisco
(Representative Office)
Approved: 3/31/00
Opened: 5/8/00
Contact Person: Joseph Raffetto
Phone: (415) 439-6780

Foreign (Other Nation) Bank – Voluntary Surrender of Licenses

CARIPLO – CASSA DI RISPARMIO DELLE PROVINCIE LOMBARDE, S.p.A.
One Embarcadero Center, San Francisco
(Representative Office)
Discontinued: 5/8/00

DEUTSCHE BANK, AG
50 California Street, San Francisco
(Representative Office)
Discontinued: 3/31/00

Credit Union Activity

Conversions to State Charter

American First Federal Credit Union, La Habra, to convert to a state-chartered credit union
Filed: 4/20/00

Long Beach Schools Federal Credit Union, Long Beach, to convert to a state-chartered credit union
Filed: 12/13/00

Matadors Federal Credit Union, Northridge, to convert to a state-chartered credit union
Filed: 12/21/99

North Island Federal Credit Union, Glendale, to convert to a state-chartered credit union
Filed: 12/13/99

Rockwell Federal Credit Union, Downey, to convert to a state-chartered credit union
Filed: 4/4/00

USC Federal Credit Union, Los Angeles, to convert to a state-chartered credit union
Filed: 11/10/99

Ventura County Federal Credit Union, Ventura, to convert to a state-chartered credit union
Filed: 12/13/99

Water & Power Federal Credit Union, Los Angeles, to convert to a state-chartered credit union
Filed: 4/5/00

Whittier Area Federal Credit Union, Whittier, to convert to a state-chartered credit union
Filed: 3/31/00

Mergers

Sacramento District Federal Credit Union, Sacramento, with and into Nazarene Credit Union, Brea
Approved: 3/28/00

San Francisco J.A.C. L. Credit Union, San Francisco, with and into National JACL Credit Union, Salt Lake City, UT
Effected: 3/21/00

Shur Lok Federal Credit Union, Irvine, with and into Orange County’s Credit Union, Santa Ana
Effected: 4/20/00

 

DONALD R. MEYER
Commissioner of Financial Institutions

By:

JAN LYNN OWEN
Chief Deputy Commissioner

 

Bulletin for Month ended
April 2000, issued pursuant
to Financial Code, Section 258

The Monthly Bulletin is available without charge via email as a PDF attachment. To subscribe, please contact Mary Ann Havens at mhavens@dfi.ca.gov.