State of California
|Gray Davis, Governor||
Business Transportation and
Brian Yuen Appointed Deputy Commissioner
Department of Financial Institutions Commissioner Donald R. Meyer has announced the appointment of Brian H. Yuen as Deputy Commissioner for the Department of Financial Institutions. Mr. Yuen was appointed Deputy Commissioner, Division of Examinations, Southern California Region effective April 2, 2001.
Mr. Yuen joined the California State Banking Department (now the Department of Financial Institutions) as a junior bank examiner in 1974 and has been an Assistant Deputy Commissioner in the San Francisco Regional Office since 1991.
Mr. Yuen is a graduate of San Francisco State University. In addition, he obtained a Certificate of Banking from the Pacific Coast Banking School at the University of Washington, Seattle.
The Department has adopted Section 10.19605 to Article 10 (commencing with Section 10.19600) of Subchapter 10 of Chapter 1 of the California Code of Regulations. The regulation provides parity with federal law for two years with respect to the exemption to lending limits for loans secured by segregated deposit accounts. Legislation will need to be enacted within two years for this change to become permanent. The regulation became effective April 2, 2001. The regulation provides small state-chartered banks with the ability to better compete with national banks.
Credit Union Advisory Committee
The Credit Union Advisory Committee was created legislatively in 1996, effective July 1, 1997, concurrently with the creation of the Department of Financial Institutions. The committee advises the Commissioner and the Deputy Commissioner of Financial Institutions for the Division of Credit Unions on matters relating to credit unions or the credit union business.
The Secretary of Business, Transportation and Housing Secretary, Maria Contreras-Sweet, has appointed the following persons to the Credit Union Advisory Committee for a term of two years:
For more information please contact Deputy Commissioner Elizabeth Dooley at (213) 897-2225.
Monthly Activity Report
Commercial Bank Activity
Pacific Community Bank
Proposed Location: 1003 West San Marcos Boulevard, San Marcos, San Diego County
Correspondent: Grace Wickersham
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
Phone: (949) 261-8888
Antelope Valley Bank, Lancaster, Tustin, with and into California Bank & Trust, San
Bank of Stockdale, F.S.B., Bakersfield, with and into Valley Independent Bank, El
Eldorado Bank, Tustin, with and into California Bank & Trust, San Diego
Kings River State Bank, Reedley, with and into Valley Independent Bank, El Centro
Timberline Community Bank, Yreka, with and into PremierWest Bank, Medford, Oregon
Tokai Bank of California, Los Angeles, with and into Sanwa Bank California, San
Francisco, and to change the name of the surviving bank to United California Bank
Filed : 4/4/01
Acquisition of Branch Office
Redding Bank of Commerce, Redding, to acquire the Citrus Heights Office of FirstPlus
Bank, Tustin, located at 6950 Sunrise Boulevard, Citrus Heights
Foreign Bank Activity
New Foreign (Other Nation) Bank- To Establish Office
Banca Intesa, S.p.A.
555 South Flower Street
Los Angeles, Los Angeles County
Contact person: Luigi Braghieri, Senior Vice President and General Manager
Banca Intesa, S.p.A.
10 East 53rd Street
New York, NY 10022
Bank of Communications
In the vicinity of the city of Los Angeles, Los Angeles County
Contact person: Omer S.J. Williams
Thacher Proffitt & Wood
Two World Trade Center
New York, NY 10048
Phone: (212) 912-7432
Grand Commercial Bank, Ltd.
In the vicinity of Colima and Azusa Avenues, City of Industry, Los Angeles County
(Wholesale Branch Office)
Contact person: A. Wade Francis, President
Unicon Financial Services, Inc.
200 Pine Avenue, Suite 260
Long Beach, CA 90802
New Foreign (Other State) Bank- To Establish Office
777 Mariners Island Boulevard, San Mateo, San Mateo County
(Facility Uninsured Bank)
Contact person: Tracy Harrington
Phone: (650) 312-2535
Investors Bank & Trust Company
US Bank Plaza, 980 9th Street, Sacramento, Sacramento County
(Facility Insured Bank)
Contact person: Michael F. Rogers
200 Clarendon Street
Boston, MA 02116
Phone: (617) 937-6106
Industrial Loan Company Activity
New Premium Finance Company
AFCO Premium Acceptance, Inc.
21800 Oxnard Street #890, Woodland Hills, Los Angeles County
Voluntary Surrender of License
Central Premium Finance Company
5480 East Ferguson Drive, Los Angeles, Los Angeles County
Pinnacle Premium Acceptance Corporation
2501 East Chapman, Fullerton, Orange County
DONALD R. MEYER
Bulletin for month ended
April, 2001, issued pursuant
to Financial Code, Section 258
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