State of California
|Gray Davis, Governor||
Business Transportation and Housing Agency
|Department of Financial Institutions||
|Volume 4, Number 9||
Message From Maria Contreras-Sweet
An updated energy message is attached to this month’s Bulletin from Secretary Maria Contreras-Sweet of the Business, Transportation and Housing Agency.
California continues to experience electrical shortages that threaten rolling blackouts. To reduce the risk of power outages, the most important thing you can do is reduce your demand for electricity and use energy more efficiently.
"With summer’s peak energy usage months soon upon us", said Secretary Contreras-Sweet, "Governor Davis has proposed a clear and effective three-pronged answer to the energy challenge."
Donald R. Meyer Confirmed as Commissioner of Financial Institutions
The California Senate unanimously voted on Monday, March 19, 2001, to approve the appointment by Governor Gray Davis of Donald R. Meyer as Commissioner of Financial Institutions.
Department Seeks Comment on Wildcard Regulations
The Department is seeking input on whether regulations under Section 753 of the Financial Code (the so-called "wildcard" provision) are necessary to achieve parity between state chartered depository institutions and national banks. It has been suggested that under the Gramm-Leach-Bliley Act (PL. 106-102) and the federal regulations implementing it, national banks may establish operating and financial subsidiaries more easily than California state banks. The Department would like to know if state banks are concerned about this or other potential inequities.
If you wish to comment on this issue, please let us know. Comments should include proposed language of a "wildcard" regulation and an explanation of why the regulation is necessary to achieve parity between national banks and state depositary institutions. Comments should be sent in writing postmarked no later than April 30, 2001 to:
Rosemarie Oda, Esq.
Attn: Wildcard Regs
Department of Financial Institutions
111 Pine Street, 11th Floor
San Francisco, CA 94111
Submissions by e-mail may be sent to email@example.com. Please also include the name, title, company, street address and telephone number of the sender. Anonymous comments will not be accepted.
Monthly Activity Report
Commercial Bank Activity
Community Bank of Santa Maria
1493 South Broadway
Santa Maria, Santa Barbara County (93454)
Officers: William Hares: Chairman of the Board; James D. Glines, President and Chief Executive Officer; Jack Van Bergen, Chief Credit Officer; Janet Silveria, Chief Financial Officer
Antelope Valley Bank, Lancaster and Eldorado Bank, Tustin, with and into California Bank & Trust, San Diego
Bank of San Francisco, San Francisco, with and into First Bank & Trust, San Francisco, amended to
a merger of First Bank & Trust, San Francisco, with and into Bank of San Francisco, San Francisco,
and to change the name of the surviving bank to First Bank & Trust
Sacramento Commercial Bank, Sacramento, with and into Placer Sierra Bank, Auburn
Application for Trust Powers
415 Huntington Drive, San Marino, Los Angeles County
Business and Industrial Development Corporation Activity
CNL Commercial Lending, Inc., A California Business and Industrial Development Corporation
26137 La Paz Road, Mission Viejo, Orange County
Correspondent: Loren P. Hansen
Knecht & Hansen, 1301 Dove Street, Suite 900, Newport Beach, CA 92660
Phone: (949) 851-8070
Industrial Bank Activity
Acquisition of Banking Business
Affinity Bank, Ventura, to acquire the Irvine Branch Office of First Plus Bank, Tustin, located at 14252 Culver Drive, Irvine, Orange County
Foreign Bank Activity
New Foreign (Other Nation) Bank
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
Voluntary Surrender of License
Mitsubishi Trust and Banking Corporation
801 South Figueroa Street, Los Angeles, Los Angeles County
Industrial Loan Company Activity
Premium Finance Company Activity
Collier Financial, Inc.
2501 East Chapman Avenue, Fullerton, Orange County
The Plantation Corporation
21371 Ventura Boulevard, Woodland Hills, Los Angeles County
Voluntary Surrender of License
Infinity Acceptance Corporation
21731 Ventura Boulevard, Woodland Hills, Los Angeles County
Preferred Payment Plan, Inc.
6405 Mira Mesa Boulevard, San Diego, San Diego County
Pouring Financial, Inc.
2100 East Katella Avenue, Anaheim, Orange County
Credit Union Activity
Carnation Southern California Federal Credit Union, Los Angeles with and into California Agribusiness Credit Union, Buena Park
Conversion to State Charter
Courts & Records Federal Credit Union, Pasadena
First Federal Credit Union, Sacramento, as First U.S. Community Credit Union
SafeAmerica Federal Credit Union, Hayward
The February 2001 issue of the Monthly Bulletin incorrectly showed the merger of Citrus and Avocado Employees Federal Credit Union, Ventura into California Agribusiness Credit Union, Buena Park as having been filed on February 27, 2001 and the merger of Mobil West Federal Credit Union, Torrance into Premier America Credit Union, Chatsworth as having been filed on February 20, 2001. Please note that the mergers were approved on those respective dates.
DONALD R. MEYER
Commissioner of Financial Institutions
Bulletin for month ended
March, 2001, issued pursuant
to Financial Code, Section 258
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Be energy efficient