Volume 16, Issue 01 - July 2012
Commissioner Barnes Receives 2012 Transformative Leadership Award
On July 23, 2012 it was announced that Commissioner Teveia Barnes of the California Department of Financial Institutions was selected as a West Coast leader for the legal industry's most prestigious awards program. The winners will be recognized during a gala dinner on Thursday, September 6, 2012 at the San Francisco Marriott Marquis.
The Transformative Leadership Awards West program honors general counsel and law firm partners, located on the West Coast, who have demonstrated a commitment to advancing the empowerment of women in corporate law. The awards are presented in seven categories, not only recognizing career achievements, but also the individual's commitment to leadership, courage, advancement and empowerment of women. Commissioner Barnes received the Debra L. Zumwalt Pioneer Award. This award is presented to a woman who has transformed being the “first” into being a catalyst for change. She indelibly raises the bar for attorneys and corporations by consistently demonstrating her dynamic expertise, core values and ideals that drive unprecedented collaboration, innovation and achievement to deliver sustainable results. Her strong sense of purpose transcends the legal profession, as she is devoted to both professional and civic leadership, policy reform and the economic advancement of others to achieve success. Debra Zumwalt is the general counsel at Stanford University.
The Transformative Leadership Awards Annual and West Coast program are presented by InsideCounsel magazine, the leading monthly business publication for general counsel and in-house legal executives, published by Summit Business Media. For more information about the awards program and winners, visit http://www.tlawest.com/2012-award-winners/.
Executive Officer and Director Compensation Survey Now In Progress
On July 19, 2012, DFI bank licensees received an email to their designated email address with a unique link to a secure web site where they will complete the survey online. National banks and federal savings banks that responded to an invitation to participate also received an email.
Participants were asked to respond by Wednesday, August 15, 2012 so the results can be compiled into a summary report that will be e-mailed to participating banks later this year. It is not too late to participate. A reminder will be going out to the designated email addresses shortly. Recipients are asked to please forward the link to the HR manager or other person who will be completing the survey
If you did not receive the email or if you have any questions about the survey, please contact Patrick Carroll at (415) 263-8559 or by e-mail at Patrick.Carroll@dfi.ca.gov.
The survey results for the 34th Annual Executive Officer and Director Compensation Survey as of June 30, 2011 are now available at www.dfi.ca.gov/publications/executive_summaries/default.html.
Participants in the 2012 survey will receive a PDF of the completed survey results by email upon completion.
Unclaimed Property Division update
Notice to Holders, Updated Handbook and Summer Newsletter
The following information was received from the State Controller's Office, Division of Unclaimed Property:
- A new Notice to Holders titled “CUSIP Number Required for Holder Notice and Remit Reports Containing Securities” has been posted to the web.
- Revised Holder Handbook to clarify CUSIP requirement with reports containing securities (page 19).
- Please take some time to read the 2012 Summer Newsletter which includes information about Senate Bill 495, using the correct relationship type codes, contact after the due diligence letter, 1577 interest billing process, properly reporting cashier’s checks, money orders, and official checks.
If you have any reporting questions, please contact the Unclaimed Property Reporting Unit at (916) 464-6284 or firstname.lastname@example.org.
Commercial Bank Activity
Acquisition of Control
First PacTrust Bancorp, Inc. to acquire control of Beach Business Bank
Purchase of Partial Business Unit
Opus Bank, Irvine, to acquire ten branch offices of Pacific Western Bank, Los Angeles
American Perspective Bank, San Luis Obispo, to merge with and into Pacific Western Bank, Los Angeles
Desert Commercial Bank, Palm Desert, to merge with and into First Foundation Bank, Irvine
Security Business Bank of San Diego, San Diego, California, to merge with and into AmericanWest Bank, Spokane, Washington
Premium Finance Company Activity
New Premium Finance Company
CPF Columbia Pacific Finance
5716 Corsa Avenue, Westlake Village, Thousand Oaks County
Insurance Finance Corporation of CA
515 S. Flower Street, Los Angeles, Los Angeles County
Southern Star Premium Finance, Inc.
17601 S. Denver Avenue, Gardena, Los Angeles County
Foreign (Other State) Bank Activity
Discontinuance of Facility
American Enterprise Bank
8775 Sierra College Boulevard, #100, Granite Bay, Placer County
120 Railroad Avenue, Richmond, Contra Costa County
4675 MacArthur Court, Newport Beach, Orange County
Community South Bank
43513 Ridge Park Drive, Temecula, Riverside County
Southwest Capital Bank (fka Bank of Las Vegas)
19772 MacArthur Boulevard, #100 Irvine, Orange County
Texas Capital Bank, N.A.
14895 E. 14th Street, San Leandro, Alameda County
Credit Union Activity
Bay Media Federal Credit Union, San Francisco, to merge with and into SF Fire Credit Union, San Francisco
Family 1 Federal Credit Union, Placentia, to merge with and into Credit Union of Southern California, Brea
Inland Empire Credit Union, Pomona, to merge with and into Credit Union of Southern California, Brea
San Jose Credit Union, San Jose, to merge with and into National 1st Credit Union, Santa Clara
Santa Monica City Employees Federal Credit Union, Santa Monica, to merge with and into Southland Credit Union, Las Alamitos
One credit union received approval for one bylaw amendment during June 2012.
One credit union received approval for request for variance to sections of the California Code of Regulations during June 2012.
Money Transmitter Activity
New Money Transmitter
Facebook Payments Inc.
FIRMA Foreign Exchange Corporation (U.S.) Ltd.
TEVEIA R. BARNES
Commissioner of Financial Institutions
Bulletin for Month ended
July 2012, issued pursuant
to Financial Code section 376