State of California

Department of Financial Institutions

http://www.dfi.ca.gov


Monthly Bulletin


Volume 3, Number 9

March, 2000


The Department is beginning the process of developing a Strategic Plan for the next five years. As part of that process we are attempting to identify external factors and issues which present both opportunities and challenges to the Department and our licensees. We would like to offer you the opportunity to comment and/or make suggestions on changes that have taken place in your industry, changes you anticipate over the next five years, and/or factors which you think may dictate changes in the ways both you, our licensees, and the Department do business. If you would like to send comments and/or suggestions, please direct them to Lynnette Myhre, Training Officer at lmyhre@dfi.ca.gov or mail them to 9609 Waples Street, Suite 100, San Diego, CA 92121. You may contact Ms. Myhre at (858) 642-4244 if you have any questions.

Financial Institutions Law

The Banking Law, Payment Instruments Law, Business and Industrial Development Corporations Law, Savings Association Law, Credit Union Law, Industrial Loan Law and Related Laws, as of January 1, 2000 is now available in a convenient 8 " x 11" format. The 2000 Financial Institutions Law replaces all earlier editions. Copies are in the process of being mailed to each Department licensee. Other interested parties and licensees that wish to receive bulk quantities may order the Financial Institutions Law from the Department of General Services, Documents and Publications Section. To order, please refer to the attached order form. Readers are reminded that the full text can be accessed from our Web site at http://www.dfi.ca.gov.

First Call 2000

The Acting Commissioner of Financial Institutions has called for reports of condition of all state-chartered banks, trust companies, agencies and branches of foreign banks, and trust departments of national banks as of the close of business March 31, 2000. The reports are due in this office no later than May 1, 2000. Please refer to your call report letter for more information.

Special Alert

As a part of its financial crimes enforcement activity, the United States Secret Service investigates counterfeit corporate check activity. In 1997, the Secret Service piloted a project to create a database on the Internet with information on counterfeit corporate checks that could be shared by the banking industry and law enforcement agencies.

Based on the success of the pilot project, the database has been expanded for nationwide accessibility. The enhanced database allows the Secret Service to use the information to conduct comprehensive analyses of trends

and patterns in financial crimes, while it facilitates proactive investigations of counterfeit corporate check activity. The database is located on the Web at http://www.badcheck.treas.gov.

On the Web site, banks and other selected parties may enter information on counterfeit corporate checks, view information entered by other participants, and interact with others who use the site. Access is restricted, and participation in the program must be approved by the Secret Service.

Please share this information with those within your institution who may be involved in the investigation and/or reporting of counterfeit corporate check activity. Use of the database is strictly voluntary and does not relieve banks of the obligation to report counterfeit checks or other check fraud activities to the Financial Crimes Enforcement Network by filing Suspicious Activity Reports.

For more information, please contact the U.S. Secret Service Financial Crimes Division at (202) 406-5850. For your reference, all FDIC Financial Institution Letters published since January of 1995 may be found on the FDIC’s Web site at http://www.fdic.gov under "News, Events & FOIA."

Monthly Activity Report

Commercial Bank Activity

New Banks

1ST PACIFIC BANK
Proposed Location: 7728 Regent Road, City and County of San Diego
Approved: 3/7/00
Correspondent: Judi Steven Mora
J. Mora & Associates
1116 Richmond Drive
Stafford, VA 22554-1916
Phone: (800) 825-5606

SIERRA STATE BANK (Interim Bank)
Proposed Location: 86 Main Street, City of Porterville, Tulare County
Filed: 3/13/00
Correspondent: Madge S. Beletsky, Esq.
Fried, Bird & Crumpacker, P.C.
1900 Avenue of the Stars, 25th Floor
Los Angeles, CA 90067
Phone: (310) 282-8911
(In connection with the merger of Sierra National Bank with and into Bank of the Sierra)

Mergers

East County Bank, Antioch, with and into CivicBank of Commerce, Oakland
Effected: 2/29/00

Lippo Bank, San Francisco, with and into Commercial Bank of San Francisco
Withdrawn: 1/15/99

Lippo Bank, San Francisco, with and into First Bank of California, Sacramento
Filed: 3/2/00

Sierra National Bank, Tehachapi, with and into Bank of the Sierra, Porterville
Filed: 3/13/00

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
Filed: 3/13/00

Bank of the West, San Francisco, California, to acquire 47 branch offices of Zions First National Bank, Salt Lake City, Utah
Filed: 3/13/00

First Bank of California, Sacramento, to acquire the San Francisco Branch of First Bank & Trust, Newport Beach
Effected: 3/10/00

Sale of Trust Business Units

Sanwa Bank California, San Francisco, to sell a partial trust business unit to Citizens Business Bank, Ontario
Approved: 3/22/00

Sanwa Bank California, California, to sell a partial trust business unit to Investors Bank & Trust Company, Massachusetts
Effected: 3/10/00

Trust Company Activity

New Trust Company

PACIFIC GATEWAY TRUST COMPANY
Proposed Location: 620 Newport Center Drive, Suite 450, City of Newport Beach, Orange County
Terminated: 12/21/99
Correspondent: Gary Steven Findley
1470 North Hundley, Anaheim, CA 92806
Phone: (714) 630-7136

Foreign Bank Activity

Foreign (Other Nation) Bank – To Establish Offices

THE ASAHI BANK, LTD.
350 South Grand Avenue, Suite 3800, Los Angeles
(Representative Office)
Opened: 3/1/00
(In connection with the transformation of the Non-depositary Agency to a Representative Office)
Contact Person: Toshiaki Chikanishi, Chief Representative
Phone: (213)-473-3300

BANCA INTESA
(Milan, Italy)
One Embarcadero Center, San Francisco
(Representative Office)
Filed: 3/24/00
Correspondent: David L. Glass
Clifford, Chance, Rogers & Wells
200 Park Avenue, New York, New York 10166-0153
Phone: (212) 878-3202

Foreign (Other Nation) Bank – To Discontinue Office

THE ASAHI BANK, LTD.
350 South Grand Avenue, Suite 3800, Los Angeles
(Non-depositary Agency)
Discontinued: 2/29/00
(In connection with the transformation of the Non-depositary Agency to a Representative Officer)

Foreign (Other State) Bank – To Establish a New Facility

SUNRISE BANK OF ARIZONA
(Headquarters: Phoenix, Arizona)
Proposed Location: 12707 High Bluff Drive, San Diego, CA 92103-2035
(Facility – Insured Bank)
Notified: 2/23/00
Opened: 3/23/00
Contact Person: Steve Black
Phone: (858) 350-4343

Industrial Loan Company Activity

New Industrial Loan Company

FOX FINANCIAL SERVICES, INC.
2100 East Katella Avenue, Suite 220, Anaheim, CA 92806
(Premium Finance Agency)
Opened: 3/9/00
Contact Person: Jamie Kiger, President
Phone: (800) 624-6308

Voluntary Surrender of Licenses

GEMINI PREMIUM FINANCE SERVICE, INC.
5555 Garden Grove Boulevard, Westminster, CA 92683
(Premium Finance Agency)
Discontinued: 3/14/00

HAWK FINANCIAL SERVICES
3705 Fortuna Ranch Road, Encinitas
(Premium Finance Agency)
Discontinued: 4/26/99

Credit Union Activity

New Credit Union

AMNAT Credit Union Association
207 West Los Angeles Avenue, Suite 174, Moorpark, CA 93021
Withdrawn: 2/25/00

Conversions to State Charter

Alliance Federal Credit Union, to convert to a state-chartered credit union under the name Alliance Credit Union
Filed: 3/1/00

Pacific Bay Federal Credit Union, to convert to a state-chartered credit union under the name Pacific Bay Credit Union
Filed: 3/6/00

Mergers

Levi Strauss Employees Federal Credit Union, San Francisco, with and into Patelco Credit Union
Approved: 2/4/00

St. Anselms Federal Credit Union, San Anselmo, with and into Redwood Credit Union, Santa Rosa
Approved: 9/20/99
Effected: 12/10/99

Transmitter of Money Abroad Activity

New Transmitters

DOLLARS EXPRESS INTERNATIONAL, INC.
Filed: 3/22/00

JOM CORPORATION OF ILLINOIS
Filed: 2/23/00

Payment Instruments Activity

Voluntary Surrender of Licenses

BANKAMERICA CORPORATION
Discontinued: 12/31/99

MID-AMERICA MONEY ORDER COMPANY
Discontinued: 1/26/00

 

JAN LYNN OWEN
Acting Commissioner of Financial Institutions


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