State of California

Department of Financial Institutions

http://www.dfi.ca.gov


Monthly Bulletin


Volume 3, Number 8

February, 2000


New Financial Institutions Manager for the Credit Union Division in Northern California

Acting Commissioner, Jan Lynn Owen is pleased to announce that Beverly Ryan has accepted the position of Financial Institutions Manager for the Credit Union Division in Northern California. Ms. Ryan has accepted the position in San Francisco, which will be vacated by Financial Institutions Manager Heidi Waters.

Ms Ryan began her career with the Department of Corporations in 1980, where she worked in the Enforcement Division. In 1982, Ms. Ryan transferred to the Financial Services Division where she was involved in examinations of credit unions and finance companies, and in 1985, she became a thrift and loan specialist. In addition to her accomplishments as an examiner and specialist, Ms. Ryan is a Certified Public Accountant. Ms. Ryan has held her current position as supervisor in the Credit Union Division since 1994.

Ms Ryan was a part of the Financial Services Division of the Department of Corporations that was merged with the State Banking Department in July 1997 to form the Department of Financial Institutions. She has demonstrated her abilities throughout her career and is well prepared to accept the challenges of her new position.

Ms Ryan may be reached in our San Francisco office at (415) 263-8557 or via e-mail at bryan@dfi.ca.gov. All application requests for Northern California credit unions should be filed with Ms. Beverly Ryan in the San Francisco Office.

Y2K: Record Retention

The Department of Financial Institutions attributes the quiet passage of the century date change to the efforts of a well-prepared financial services industry and offers congratulations to all involved that made it a non event. The Department will continue to keep a cautious eye open for any Y2K related glitches as the year moves forward, although nothing material is expected to develop. Nevertheless, the Department believes that financial institutions should retain appropriate documentation associated with Y2K efforts to support that they have fulfilled, or attempted to fulfill, their fiduciary responsibilities. No set length of time has been established regarding retention periods. Should financial institutions have questions regarding retention periods, it is recommended that legal counsel and/or trade associations be consulted for guidance.

Monthly Activity Report

Commercial Bank Activity

New Banks

HORIZON BANK
Proposed Location: in the vicinity of Ventura and Balboa Boulevards, Community of Encino, City and
County of Los Angeles
Filed: 2/23/00
Correspondent: S. Alan Rosen, Esq.
Horgan, Rosen, Beckham & Coren, LLP
21700 Oxnard Street, Suite 1400
Woodland Hills, CA 91365
Phone: (818) 340-6190

ORANGE COMMUNITY BANK
Proposed Location: 1045 West Katella Avenue, City and County of Orange
Filed: 2/8/00
Correspondent: Gary Steven Findley
Gary Steven Findley & Associates
1470 North Hundley Street, Anaheim, CA 92806
Phone: (714) 630-7136

PROFESSIONAL BUSINESS BANK
Proposed Location: 199 North Robles Avenue, City of Pasadena, Los Angeles County
Filed: 2/11/00
Correspondent: Howard A. Shields
116 North Maryland #120, Glendale, CA 91206
Phone: (818) 546-8700

SOLANO BANK
Proposed Location: 403 Davis Street, City of Vacaville, Solano County
Filed: 1/3/00
Correspondent: Glen C. Terry
1300 Oliver Road, Suite 180, Fairfield, CA 94533
Phone: (707) 423-2055

Mergers

The Bank of Hollywood, Los Angeles, with and into People’s Bank of California, Los Angeles
Effected: 1/31/00

East County Bank, Antioch, with and into CivicBank of Commerce, Oakland
Approved: 1/31/00

General Savings Bank of Washington, Bellevue, Washington, with and into General Bank, Los Angeles, California
Effected: 2/10/00

Peninsula Bank of San Diego, San Diego, California, with and into U.S. Bank National Association, Minneapolis, Minnesota
Effected: 1/14/00

Acquisition of Branch Office

First Bank of California, Sacramento, to acquire the San Francisco Branch of First Bank & Trust, Newport Beach
Filed: 12/15/99
Approved: 2/3/00

Sale of Trust Business Units

Sanwa Bank California, California, to sell a partial trust business unit to Investors Bank & Trust Company, Massachusetts
Approved: 2/2/00

Sanwa Bank California, San Francisco, to sell a partial trust business unit to Arrowhead Trust, Inc., San Bernardino
Filed: 2/17/00

Sanwa Bank California, San Francisco, to sell a partial trust business unit to Citizens Business Bank, Ontario
Filed: 2/17/00

Foreign Bank Activity

Foreign (Other Nation) Bank – To Establish Office

EQUITABLE PCI BANK
(Makati City, Philippines)
660 South Figueroa Street, Suite 1100, Los Angeles
(Depositary Agency)
Filed: 2/11/00

Foreign (Other Nation) Bank Voluntary Surrender of License

CREDIT AGRICOLE INDOSUEZ
101 California Street, Suite 4390, San Francisco
(Representative Office)
Effected: 2/18/00

Industrial Loan Company Activity

Voluntary Surrender of License

WESTERN FAMILY PREMIUM FINANCE CORP.
2100 East Katella Avenue, Suite 220, Anaheim
(Premium Finance Agency)
Discontinued: 2/3/00

Foreign (Other State) Industrial Loan Company – To Establish Facilities

WEBBANK
Headquarters: Park City, Utah
Proposed Locations: 9781 Magnolia Avenue, Riverside CA 92503 and 4915 Moreno, Montclair CA 91763.
(Facilities – Insured Industrial Loan Company)
Notified: 2/15/00
Opened: 3/15/00
Contact Person: Chad Faulkner-Manager
Phone: 909-354-2274

Credit Union Activity

Conversion to State Charter

Marine Air Federal Credit Union to convert to a state charter credit union
Filed: 2/9/00

Mergers

CSAA Employees Federal Credit Union, San Francisco with and into Redwood Credit Union, Santa Rosa
Approved: 12/3/99

Libby Associates Federal Credit Union, Walnut with and into San Gabriel Valley Credit Union, Walnut
Effected: 12/31/99

Monterey-San Benito Grange Credit Union, Salinas with and into Monterey County Employees Credit Union, Salinas
Approved: 9/20/99
Effected: 10/14/99

National City Federal Credit Union, National City with and into Point Loma Credit Union, San Diego
Filed: 2/14/00

Sacramento District Federal Credit Union, Loomis, with and into Nazarene Credit Union, Brea
Filed: 2/14/00

Santa Monica Consumers Credit Union, Santa Monica with and into Hughes Aircraft Federal Credit Union, Manhattan Beach
Effected: 1/31/00

Shur Lok Federal Credit Union, Irvine, with and into Orange County’s Credit Union, Santa Ana
Filed: 1/27/00
Approved: 2/9/00

Stockton Delta Credit Union, Stockton with and into Central State Credit Union, Stockton
Filed: 2/24/00

 

 

 

JAN LYNN OWEN
Acting Commissioner of Financial Institutions


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