DFI Monthly Bulletin – August 2003

Aug 1, 2003

Volume 7, Number 2

Live Scan Fingerprinting Required For Money Transmitter Applications

Effective immediately, money transmitter licensees must submit fingerprints by using Live Scan, rather
than fingerprint cards, whenever they submit an application for an agent or branch that is located in
California. Live Scan is a system for the electronic submission of fingerprints and automated background
More information about Live Scan is available at http://www.dca.ca.gov/bsis/live_scan_fingerp.htm. The
Department will still accept fingerprint cards for out of state applicants.
FAQs for MSBs—Frequently Asked Questions
for Money Service Businesses
The Financial Crimes Enforcement Network (FinCEN) recently published frequently asked
questions for money service businesses (MSBs) on its Web site at:
The questions cover such areas as which businesses must register; when a money service business
must renew its registration; and what is the difference between a branch and an agent. The
questions also cover how to report suspicious activity.
DFI licensees that act as money service businesses include issuers of payment instruments, travelers
checks and transmitters of money abroad.
2 Monthly Bulletin August, 2003
Assessment of Local Agency Depositories
The 2003-04 assessment rate for local agency depositories is $0.000053894, reduced from $0.00007121
last year. Invoices will be mailed to each licensee on September 5, 2003 and become delinquent if not
paid by September 25, 2003.
DFI Moves to Electronic Distribution of
Financial Institutions Law, Annual Report and Monthly Bulletin now
Available via CD-ROM, Web, E-mail
Many of the publications the Department of Financial Institutions (DFI) formerly printed and mailed in
hard copy are now being published and distributed electronically. This enables the Department to
communicate with its licensees and other stakeholders while reducing costs and preserving natural
Financial Institutions Law
DFI is mailing CD-ROMs of the January 1, 2003 edition of the Financial Institutions Law in PDF format
to all licensees. Other interested parties and licensees that wish to receive additional CDs will soon be
able to order them from the Department of General Services, Documents and Publications Section. An
announcement will be made to the DFI mailing list once it becomes available. You may subscribe to the
list at: http://www.dfi.ca.gov/bulletin/subscription/public.asp. The Financial Institutions Law is also
available from our Web site here: http://www.dfi.ca.gov/lawsreg/2003financialcode.pdf.
2002 Annual Report
The 2002 Annual Report is now available from the DFI Web page in PDF format here:
http://www.dfi.ca.gov/annual/2002/2002_AR.pdf. The report lists the significant events that affected
DFI or its licensees, lists of financial institutions that opened, closed, etc., during the year as well as
financial data as of year end 2002 and other information about the Department and its licensees.
Monthly Bulletin
DFI recently mailed a reminder to the presidents, CEOs, general managers and contact persons of all DFI
licensees who do not yet receive the Monthly Bulletin by e-mail with instructions about how to join the
licensee list. Members of the general public who wish to receive the Bulletin by e-mail may join the
public list by going to www.dfi.ca.gov/bulletin/subscription/public.asp, filling in the requested
information and clicking the subscribe button. DFI stopped mailing hard copies of the Bulletin in June.
The Bulletin is also available from the DFI Web site at: http://www.dfi.ca.gov/bulletin/bulletin.asp.
If you have any questions or comments about DFI publications, please contact Patrick Carroll, Strategic
Support Manager at (415) 263-8559 or by e-mail at pcarroll@dfi.ca.gov.
3 Monthly Bulletin August, 2003
Meeting to Discuss the Security of the United
States’ Financial Services Sector
Executive staff of DFI licensees are cordially invited to attend a meeting to discuss the security of
the United States’ financial services sector on Thursday, October 16, 2003, in Oakland, California,
or Friday, October 17, 2003, in Los Angeles, California. Both meetings will commence at 8:30
a.m. and conclude at 4:15 p.m. Information from this event may also be of interest to your
technology outsourcing service provider(s). As such, you are encouraged to invite your service
provider representative to attend this meeting as well. The purpose of the meeting is to bring
together federal, state, and local government officials with private sector representatives of the
banking, securities, and insurance industries. The meetings will be held at the following locations:
Thursday, October 16, 2003 Friday, October 17, 2003
Oakland Federal Building Ronald Reagan Building
Roybal Auditorium Auditorium
1301 Clay Street 300 South Spring Street
Oakland, California 94612 Los Angeles, California 90013
The financial sector is a critically important infrastructure in the United States and much work has been
done to protect the financial sector from terrorist attacks. Homeland security is the responsibility of both
the government and private sector. The symposium will provide an opportunity for you to hear from
senior government, law enforcement, and private sector leaders about what has been accomplished. You
will also be able to identify the actions and plans your company should take to be prepared for an
emergency. A draft agenda is attached for your review.
Additional information and on-line registration will be made available on the FDIC’s web site at:
www.fdic.gov/news/conferences/index.html. Registration may also be completed by returning the
attached registration form via fax to the FDIC at (415) 808-7951, or you may submit your registration
information via e-mail to Mr. Errol Manlapaz at emanlapaz@fdic.gov. Please register by October 2,
2003. Contact Mr. Manlapaz at (415) 808-8042 for more information.
We look forward to seeing you on October 16th or October 17th!
Commercial Bank Activity
New Banks
Bank of Escondido
200 West Grand Avenue, Escondido, San Diego County
Correspondent: Joseph D. Reid III
Capitol Bancorp Limited
200 Washington Square North
Lansing, MI 48933
Phone: (517) 3721376
Approved: 8/1/03
4 Monthly Bulletin August, 2003
New Banks – (Continued)
Beach Business Bank
1230 Rosecrans Avenue, Manhattan Beach, Los Angeles County
Correspondent: Robert M. Franko
1334 Parkview Avenue, Suite 100
Manhattan Beach, CA 90266
(310) 488-2310
Filed: 8/4/03
California Community Bank
1334 West Valley Parkway, Escondido, San Diego County
(760) 888-1100
Web Site: http://www.calcommunitybank.com
Officers: Brian K. Smith, President
Larry D. Hartwig, Chief Executive Officer
Robert J. Lampert, Chief Financial Officer and Executive Vice President
Capitalization: $12,100,000.00
Opened: 8/11/03
Arlington National Bank, Arlington, Texas, with and into Wilshire State Bank, Los Angeles
Filed: 8/15/03
Asiana Bank, Sunnyvale, with and into Nara Bank, National Association, Los Angeles
Effected: 8/25/03
Kaweah National Bank, Visalia, with and into Citizens Business Bank, Ontario
Filed: 8/7/03
Approved: 8/14/03
Ojai Valley Bank, Ojai, with and into Mid-State Bank & Trust, Arroyo Grande
Filed: 8/7/03
Verdugo Banking Company, Glendale, with and into Pacific Western National Bank, Santa Monica
Effected: 8/22/03
Purchase of Partial Business Unit
Bank of Visalia, Visalia, to acquire Fresno branch office of Humboldt Bank, Eureka
Filed: 7/9/03
Approved: 8/18/03
5 Monthly Bulletin August, 2003
Purchase of Partial Business Unit – (Continued)
Plumas Bank, Quincy, to acquire five branch offices of Placer Sierra Bank, Auburn
11317 Deerfield Drive, Truckee, Nevada County
8475 North Lake Boulevard, Kings Beach, Placer County
24 West Sierra Avenue, Portola, Plumas County
76 Crescent Street, Quincy, Plumas County
604 Main Street, Loyalton, Sierra County
Filed: 6/11/03
Approved: 8/4/03
Acquisitions of Control
America Bancshares, Inc. and Brian John Barry, to acquire control of Sun Country Bank, Victorville
Approved: 7/31/03
Betty Leonard and Harold Williams, to acquire control of Whittier Trust Company, South Pasadena
Filed: 8/19/03
Gaslight Leasing, Inc., to acquire control of Fremont Bank, Fremont
Withdrawn: 8/19/03
LandAmerica Financial Group, Inc., to acquire control of Centennial Bank, Fountain Valley
Filed: 8/8/03
Premium Finance Company Activity
New Premium Finance Companies
Altair Premium Finance Corp.
2501 East Chapman Avenue, Suite 100, Fullerton, Orange County
Opened: 8/26/03
CIBA Financial Services, Inc.
523 West 6th Street, Suite 716, Los Angeles, Los Angeles County
Opened: 8/12/03
Insurance Premium Plan, Inc.
6046 Cornerstone Court West, San Diego, San Diego County
Filed: 8/14/03
Mid-America Premium Finance Company West
6046 Cornerstone Court West, San Diego, San Diego County
Opened: 8/12/03
6 Monthly Bulletin August, 2003
New Premium Finance Companies – (Continued)
Mutual Credit Corporation
511 West Palm Drive, Suite 210, Placentia, Orange County
Withdrawn: 8/14/03
U.S. Capital Associates of California, Inc.
21820 Burbank Boulevard, Suite 300, Woodland Hills, Los Angeles County
Approved: 8/13/03
West Coast Premium Finance Corp.
2501 East Chapman Avenue, Suite 100, Fullerton, Orange County
Approved: 8/13/03
Foreign (Other Nation) Bank Activity
Discontinuance of Office
BBVA Bancomer, S.A.
444 South Flower Street, Suite 100, Los Angeles, Los Angeles County (Depositary Agency)
Discontinued: 7/31/03
Bank of Montreal
350 South Figueroa Street, Suite 215, Los Angeles, Los Angeles County (Representative Office)
Filed: 8/12/03
Approved: 8/12/03
Discontinued: 5/31/03 (nunc pro tunc)
Dresdner Bank, A.G.
355 South Grand Avenue, Los Angeles, Los Angeles County (Depositary Agency)
Discontinued: 8/27/03
The July 2003 issue of the Monthly Bulletin incorrectly reported the filing date of BBVA BANCOMER,
S.A. to discontinue its depositary agency at 444 South Flower Street, Suite 100, Los Angeles, Los
Angeles County. The correct filing date was April 17, 2003.
7 Monthly Bulletin August, 2003
Foreign (Other State) Bank Activity
Discontinuance of Facility Office
Bank of Hawaii dba Pacific Century Trust
2040 South Hacienda Boulevard, Hacienda Heights, Los Angeles County
2740 North Grand Avenue, Santa Ana, Orange County
Notified: 8/5/03
Discontinued: 9/30/01 (nunc pro tunc)
Credit Union Activity
Field of Membership
Six credit unions received approvals to add 22 new fields of membership during July 2003.
Bylaw Amendment
12 credit unions received approval for 12 bylaw amendments during July 2003.
Amendment of Articles of Incorporation
5 credit unions received approvals for 5 amendments of articles of incorporation during July 2003.
Transmitter of Money Abroad Activity
New Transmitters
GroupEx Financial Corporation
14849 Firestone Boulevard
La Mirada, CA 90638
Licensed: 8/22/03
International Remittance (USA) Corporation
Filed: 8/18/03
8 Monthly Bulletin August, 2003
Business and Industrial Development Corporation Applications
Voluntary Surrender of License
CNL Commercial Lending, Inc.
26137 La Paz Road, Mission Viejo, Orange County
Effected: 8/27/03
Commissioner of Financial Institutions
Bulletin for Month ended
August 2003, issued pursuant
to Financial Code, Section 258
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