DFI Monthly Bulletin – April 2005

Apr 1, 2005

Volume 8, Number 10

Speeches and Presentations by DFI CommissionerHoward Gould

Speeches and presentations by DFI Commissioner Howard Gould are posted to the DFI Web site as they
occur. The following presentations were posted during the month:
· April 27, 2005 – DFI Performance Review, Sacramento
· April 5, 2005 – , California Credit Union League (CCUL) Government Relations Rally 2005,
To view the presentations, please visit http://www.dfi.ca.gov/speeches/speeches.asp.
DFI Receives California Team Excellence Award
In November, 2004 the Department of Financial Institutions (DFI) participated in the California Team
Excellence Award Competition (CTEA) in Rancho Cordova, sponsored by the California Council on
Excellence. Representatives of the DFI Transmitter of Money Abroad (TMA) Automation Project made a
Powerpoint presentation about how the team came together to address the chronic problem of TMA licensee
application workload backlog. This competition featured teams from the private and public sectors in ten
western states demonstrating how they use the criteria of quality and continuous improvement to bring
excellence to operations within their organizations. DFI’s “Transmitters of Money Abroad Application Team”
took Fifth Place and earned an Honorable Mention Award.
The TMA Automation Project came together to develop a database system that is used by Transmitters of
Money Abroad licensee applicants to submit application data electronically and receive approval notification by
email once the TMA staff clears the fingerprint records from the Department of Justice (DOJ).
2 Monthly Bulletin April 2005
The TMA development team is currently working with DOJ to automate the transmittal of fingerprint information
to DFI to further accelerate the licensing approval process.
The Department asked the team to demonstrate their success in the CTEA competition. The team members
were: Robert Venchiarutti, Executive Sponsor; Nancy Luke, Project Manager; Julio Prada, Program Manager;
Paul Ponzelli, Vivian Chen, Application Development; Patrick Carroll, Strategic Support; Meli Brown, Denise
Moncus, Cari Rodriguez, TMA Program Specialists; John Mason, Technical Support. Representing the team in
the competition were Nancy Luke, Patrick Carroll and Paul Ponzelli, and John Mason.
On March 18, 2005 the presenters were recognized at an award ceremony at the California Council of
Excellence’s Annual Conference. The Department thanks and acknowledges the team’s effort in making
process improvements at DFI.
DFI Wins Sacramento Workplace Excellence Leader
(SWEL) Award
The Department of Financial Institutions (DFI) Sacramento Regional Office recently received recognition by its
own employees and the Sacramento Area Human Resource Association (SAHRA) as a SWEL winner in the
not-for-profit small organization category. The Sacramento Workplace Excellence Leader (SWEL) awards are
given annually to Sacramento area organizations that exhibit exceptional and unique human resource practices.
A total of nine awards were presented to Sacramento employers. We are pleased to note that two DFI
licensees were award winners: River City Bank and Golden 1 Credit Union.
“We believe that our people are most important. It is our positive can-do attitude and belief that all employees
contribute to our mission, that makes us a great place to work,” said Carol Chesbrough, Chief Deputy
Commissioner when accepting the award this week.
The Sacramento Office of DFI was nominated by an employee, Mr. Don Lake, Senior Financial Institutions
Examiner. The following programs, which support employees, were highlighted:
· On the job training programs, including scholarships to attend and graduate from banking schools;
· Cross-training programs;
· DFI leadership development program;
· Annual all staff training conference;
· Flexible work hours, alternate work schedules, and teleworking;
· Regular communications including the employee newsletter and intranet site; and
· DREAM Team that sponsors regular social events.
“It is such an honor to have the Department’s Sacramento Regional Office recognized. It is our people that have
won the award and our goal is to be excellent in all we do,” said Howard Gould, Commissioner.
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The Sacramento Area Human Resource Association (SAHRA) is an organization of human resource
professionals representing private and public sector employers in the Greater Sacramento area. Their Web site
is located at www.sahra.org.
SWEL Awards appeared in the Sacramento Bee on April 7, 2005.
Transmitter of Money Abroad Application on CD
Program to become Mandatory
Starting July 1, 2005 applications for agents, branches of agents, and licensee branches must be submitted using
the Transmitter of Money Abroad Application on CD Program (“TMA program”), a Microsoft Excel-based
application developed by the Department of Financial Institutions (DFI). The TMA program has been in use for
approximately one year by several of the larger money transmitters that participated in the initial pilot program
and several improvements were made as a result of their input. After July 1, DFI will only accept applications
that are submitted using the program.
The TMA program consists of an Excel form to which licensees enter application data. Users save the data onto
a diskette or CD-R and print it onto a form 2114, both of which are mailed to DFI. This program was
developed with the intent to improve the process for both licensees and DFI. Using the TMA program,
licensees can save data to their own systems as an Excel workbook and print it onto a filled out form 2114,
eliminating the need to re-enter information and manually fill out hard copy forms.
CDs with the program and instructional information are in the process of being distributed to all licensees who
are not currently using it. Upon receipt, please read all information thoroughly before uploading it to your
system. You must have Microsoft Excel in order to use the program. Please contact Karen Cunningham at
916-322-1547 or by email at kcunningham@dfi.ca.gov for information about and assistance with the TMA
Commercial Bank Activity
New Bank
Bank of Santa Barbara
10 East Figueroa Street, City and County of Santa Barbara
Correspondent: Joseph D. Reid III
Capitol Bancorp Limited
200 Washington Square North
Lansing, MI 48933
(517) 372-1376
Filed: 4/4/05
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New Bank (Continued)
California Business Bank
800 West Sixth Street, Suite 1000, City and County of Los Angeles
Correspondent: Maryam Hamzeh
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
Phone: (949) 261-8888
Address changed: 3/30/05 from 350 South Figueroa Street, Suite 166
Approved: 4/21/05
Fresno First Bank
7762 N. Palm Avenue, City and County of Fresno
Correspondent: James H. Avery
James H. Avery Company
P.O. Box 3009
San Luis Obispo, CA 93403
(805) 544-5477
Filed: 4/1/05
The Private Bank of California
10100 Santa Monica Boulevard, City and County of Los Angeles
Correspondent: Maryam Hamzeh
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614-8527
(949) 261-8888
Filed: 4/4/05
Stellar Business Bank
100 North Azusa Avenue, Covina, Los Angeles County
Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614-8527
(949) 261-8888
Filed: 4/4/05
5 Monthly Bulletin April 2005
New Bank (Continued)
Sutter Community Bank
700 Plumas Street, Yuba City, Sutter County
Correspondent: James H. Avery
James H. Avery Company
P.O. Box 3009
San Luis Obispo, CA 93403
(805) 544-5477
Filed: 4/1/05
Center Savings Bank of Washington, Lynnwood, Washington, with and into Center Bank, Los Angeles
Effected: 3/31/05
Sincere Federal Savings Bank, San Francisco, with and into Guaranty Bank of California, Los Angeles
Approved: 4/26/05
Conversion to State Charter
First Bank of Beverly Hills, FSB, Calabasas, to convert from a federal savings bank to a state charter under the
name of First Bank of Beverly Hills
Approved: 4/13/05
Temecula Valley Bank, N.A., Temecula, to convert to state charter under the name Temecula Valley Bank
Filed: 4/27/05
Change of Name
First State Bank of California to change its name to First Private Bank & Trust
Notified: 3/21/05
Acquisition of Control
Mission Valley Bancorp, to acquire control of Mission Valley Bank, Sun Valley
Filed: 4/12/05
Oakland Venture Group, to acquire control of Innovative Bancorp and Innnovative Bank, Oakland
Filed: 4/1/05
Uniti Financial Corporation, to acquire control of Uniti Bank, Buena Park
Filed: 4/4/05
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Acquisition of Branch Office
Savings Bank of Mendocino County, to acquire the North Lakeport Branch of Westamerica Bank
Approved: 4/14/05
Conversion to National Charter
Valley Independent Bank, El Centro, to convert from a state-chartered bank to a national bank under the name
Rabobank, National Association
Effected: 4/4/05
Premium Finance Company Activity
New Premium Finance Company
Broadway Premium Funding Corp. of California
21820 Burbank Boulevard, Suite 300, Woodland Hills, Los Angeles County
Correspondent: Todd Greenbaum
Input 1, LLC
21820 Burbank Boulevard, Suite 300
Woodland Hills, CA 91367
(818) 676-2140
Opened: 4/26/05
Voluntary Surrenderof License
Hamilton Premium Finance Corp.
Effected: 4/14/05
Foreign (Other State) Bank Application
New Facility
Community Bank of Nevada, dba CBN Financial (Facility – Insured Bank)
750 B Street, City and County of San Diego
Notified: 3/4/05
Opened: 4/13/05
Woori America Bank (Facility – Insured Bank)
3530 Wilshire Boulevard, City and County of Los Angeles
Opened: 4/7/05
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Credit Union Activity
Delta Valley Credit Union, Stockton, with and into Financial Center Credit Union, Stockton
Filed: 04/20/05
U.F.C.W. Local 770 Credit Union, Hollywood, with and into Rancho Federal Credit Union, Downey
Filed: 4/29/05
Vallejo Schools Federal Credit Union, with and into 1st Pacific Credit Union
Effected: 2/25/05
Field of Membership
Seven credit unions received approvals to add 15 new fields of membership during March 2005.
Bylaw Amendment
Three credit unions received approval for three bylaw amendments during March 2005.
Transmitter of Money Abroad Activity
Acquisition of Control
Apax Partnerships, to acquire control of Travelex Currency Services Inc.
Filed: 4/21/05
The Bank of Nova Scotia, Toronto, Canada to acquire control of Bancomercio de El Salvador, Inc., Falls
Church, Virginia
Approved: 4/26/05
Voluntary Surrender of License
Le’s Intercontinental Money Transfer, Inc.
Effected: 4/28/05
Commissioner of Financial Institutions
8 Monthly Bulletin April 2005
Bulletin for Month ended
April 2005, issued pursuant
to Financial Code section 258
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