DFI Monthly Bulletin – January 2003

Jan 1, 2003

Volume 6, Number 7

DFI to Publish Certain Enforcement Actions in the Monthly Bulletin

In the July 2002 issue of the Monthly Bulletin, the Department of Financial Institutions (DFI) announced that it
would commence publishing notice of certain regulatory approvals, notices and orders. Starting in January 2003,
notice of final orders, including consent orders, and civil money penalties will be published in the Monthly
Bulletin. In certain limited circumstances, such actions will not be published if the Commissioner believes
publication would create safety and soundness problems.
DFI will not publish notice of written agreements or regulatory agreements, memoranda of understanding
(“MOUs”), or letters of understanding and agreement (“LUAs”).
Annual Report of Travelers Check Issuers Due
California Financial Code section 1863.1 requires each licensed issuer of travelers checks in California to file with
the Commissioner of Financial Institutions within 90 days after the close of each of its fiscal years a report
containing all of the following:
(a) Financial statements, including balance sheet, statement of income or loss, statement of changes in
shareholders’ equity, and statement of cash flows, for or as of the end of that fiscal year, prepared with
audit by an independent certified public accountant or an independent public accountant in accordance
with generally accepted accounting principles.
(b) A report, certificate, or opinion of the independent certified public accountant or independent public
accountant, stating that the financial statements were prepared in accordance with generally accepted
accounting principles.
2 Monthly Bulletin January, 2003
In addition to this information, and in accordance with section 1863.1(c), please provide the information listed
below. If any of the information requested is not applicable, please so state.
(1) Financial statements, including balance sheet and statement of income or loss, for or as of the end of
fiscal year for the licensee’s parent company. Please provide audited financial statements, if available.
(2) Total travelers checks sold in California in the preceding calendar year.
(3) Statement whether or not the licensee has complied with the provisions of California Financial Code
section 1876.8 at all times since the previous annual report and if not, explain the circumstances.
(4) Names of your Directors and names and titles of your Executive Officers as of fiscal year-end. Please
identify the Executive Officer in charge of the travelers check business.
(5) Names and addresses of owners of 10% or more of your equity securities.
(6) Address and telephone numbers of California offices as of fiscal year-end.
(7) Name, address, and telephone numbers of your California agents as of fiscal year-end.
(8) Specimens of all your travelers checks sold in California.
We appreciate your cooperation in providing this information. If you should have any questions, please contact
Arlene Rutherford at (858) 642-4244 or by e-mail at arutherford@dfi.ca.gov.
Monthly Activity Report
Commercial Bank Activity
New Bank
Torrey Pines Bank
Proposed location: 550 West C Street, Suite 100, San Diego, San Diego County
Correspondent: Robert Sarver
PO Box 675847
Rancho Santa Fe, CA 92067
Phone: (619) 322-8811
Filed: 1/15/03
3 Monthly Bulletin January, 2003
Bank of Coronado, Coronado, with and into First National Bank, Rancho Santa Fe
Effected: 1/9/03
Bank of Los Altos, Los Altos, with and into Heritage Bank of Commerce, San Jose
Effected: 1/1/03
Heritage Bank East Bay, Fremont, with and into Heritage Bank of Commerce, San Jose
Effected: 1/1/03
Heritage Bank South Valley, Morgan Hill, with and into Heritage Bank of Commerce, San Jose
Effected: 1/1/03
North State National Bank, Chico, with and into Tri-Counties Bank, Chico
Filed: 1/28/03
Pacific Business Bank, Santa Fe Springs, with and into East-West Bank, San Marino
Filed: 1/9/03
Purchase of Partial Business Unit
Cathay Bank, Los Angeles, to acquire the New York Branch of CITIC International Financial Holdings Limited,
dba CITIC Ka Wah Bank Limited, New York
Filed: 1/30/03
Conversion from Industrial Bank
Imperial Capital Bank, La Jolla
Effected: 1/1/03
Acquisition of Control
Auburn Community Bancorp, to acquire control of Auburn Community Bank, Auburn
Filed: 1/14/03
Approved: 1/14/03
First State Bancorp, to acquire control of First State Bank of California, Granada Hills
Filed: 11/25/02
Approved: 12/18/02
Mizuho Financial Group, Inc., to acquire control of Mizuho Corporate Bank of California, Los Angeles
Filed: 1/24/03
4 Monthly Bulletin January, 2003
Change of Name
California Center Bank to Center Bank
Effected: 12/16/02
Industrial Bank Activity
Purchase of Partial Business Unit
Silvergate Bank, La Jolla, to acquire the Lancaster and Riverside Branches of Humboldt Bank, Eureka
Effected: 1/1/03
Voluntary Surrender of License
411 Borel Avenue
San Mateo, CA 94402
Effected: 12/20/02
Premium Finance Company Activity
New Premium Finance Company
Allegiance Premium Finance Company, Inc.
936 Mangrove Plaza, Chico, Butte County
Opened: 1/27/03
Blackwater Premium Finance of CA, Inc.
6046 Cornerstone Court West, Suite 202, San Diego, San Diego County
Opened: 1/27/03
Focus Premium Finance Company
6046 Cornerstone Court West, Suite 202, San Diego, San Diego County
Filed: 1/14/03
5 Monthly Bulletin January, 2003
Foreign (Other Nation) Bank Activity
New Office
Eurohypo Aktiengesellschaft (Representative Office)
355 South Grand Avenue, Suite 3200
Los Angeles, Los Angeles County 90071
Phone: (213)
Ed Balazs, Manager
Opened: 1/1/03
Credit Union Activity
Orange County Gardeners Credit Union, Anaheim, into Nikkei Credit Union, Gardena
Approved: 10/7/02
Effected: 12/24/02
New Branch of Foreign (Other State) Credit Union
First Corporate Credit Union
10801 Walker Street, Cypress, Orange County
Filed: 10/28/02
Field of Membership
One credit union received approvals to add 6 new fields of membership during December 2002.
Bylaw Amendments
Five credit unions received approvals for seven bylaw amendments during December 2002.
One credit union received an approval for a request for variance to sections of the California Code of Regulations
during December 2002.
6 Monthly Bulletin January, 2003
Transmitter of Money Abroad Activity
New Transmitter
Meest Corporation Inc.
97 Six Point Road, Toronto, Ontario, Canada
Licensed: 1/24/03
Commissioner of Financial Institutions
Bulletin for Month ended
January 2003, issued pursuant
to Financial Code, Section 258
The Monthly Bulletin is available without charge via email as a PDF attachment. To subscribe, please send e-mail
with your name, e-mail address, company name and phone number to bulletin@dfi.ca.gov .