DFI Monthly Bulletin – September 2005

Sep 1, 2005

Volume 9, Number 3

DFI Releases California Financial Information Privacy Act FAQs

The California Department of Financial Institutions published to its Web site a list of frequently-asked
questions (FAQs) about issues relating to Division 1.2 of the California Financial Code, the California
Financial Information Privacy Act (commonly referred to as “SB-1”) in order to provide guidance to
DFI licensees and other interested parties in complying with the statute and completing the Management
The FAQs, which are on the Web site at www.dfi.ca.gov/sb1/default.asp, were developed from
questions licensees and others have posed to the Department. Questions regarding SB-1 compliance
may be referred to Tony Lehtonen in the Department’s Legal Division at (916) 322-5979 or by email to
Credit Union 5300 Call Reporting
The 5300 Call Reports as of September 30, 2005 are due on October 24, 2005. Please note that all
errors must be resolved before a transmission file can be created. Additionally, a comment is now
required for all warnings.
Credit unions with Internet access can now upload the Call Reports directly to the NCUA using the
eSend feature contained in the 5300 software. Alternatively, credit unions can continue to send the 5300
Call Report in hard copy or on a compact disk (CD) to the respective DFI office. Another option is to
email the transmission file to cu5300@dfi.ca.gov.
The eSend option allows 5300 data to be transferred via the Internet to an NCUA processing server
where it is electronically validated and compared to historical data. If any unusual or unlikely
conditions exist, the credit union using the eSend option will receive via email a copy of the Historical
Warnings Report for review.
2 Monthly Bulletin September 2005
To use the eSend feature, credit unions need a security password. Please refer to the 5300 cover letter
and program instructions for additional details.
The following websites offer useful information regarding the 5300s:
5300 Frequently Asked Questions http://ncua.gov/data/5300/5300FAQ.htm
5300 User’s Guide http://ncua.gov/data/5300/5300UserGuide-CU.pdf
You may also send any questions you have to the cu5300@dfi.ca.gov email address.
Local Agency Security Program
Annual Assessment Due
The annual assessment letters were sent on September 15, 2005. The assessment rate for 2005/06 fiscal
year is 0.0051199% or $1 per $19,532 in average local agency deposits for the fiscal year July 1, 2005
through June 30, 2006. This assessment rate is five percent less than the assessment of the last fiscal
year. The payments are due on October 5, 2005. If your average local agency deposits are $500,000 or
more and you have not received the assessment letter by September 20, 2005, or if you prefer to pay the
invoice by electronic fund transfer, please contract Patrick Lum at (916) 323-7013 or email him at
Call Report Due
The September 30, 2005 Quarterly Called Reports for Local Agency Security Program are due on
10/31/05. All depositories must submit a timely Called Report. Failure to submit a timely Called
Report can result in a fine, as specified in Government Code section 53661.
If your depository does not maintain local agency deposits, please submit a certification that your
depository does not maintain local agency deposits and send it to the Department of Financial
Institutions by 10/31/05. If you have any questions, please call Patrick Lum at 916-323-7013 or email
him at plum@dfi.ca.gov.
Commercial Bank Activity
New Bank
Tri-Valley Bank
2410 San Ramon Valley Boulevard, San Ramon, Contra Costa County
(925) 791-4340
(925) 837-7412 (fax)
Officers: William B. Nethercott, President and Chief Executive Officer
John D. Rockwell, Jr., Executive Vice President and Chief Credit Officer
Kate Elsea, Senior Vice President and Chief Financial Officer
Website: http://www.tvbonline.com
Capitalization: $17,612,650.00
Opened: 9/26/05
3 Monthly Bulletin September 2005
Asian American Bank & Trust Company, Boston, to merge with and into United Commercial Bank, San
Filed: 9/2/05
Commercial Federal Bank, Omaha, Nebraska, to merge with and into Bank of the West, San Francisco,
Approved: 9/23/05
Liberty Bank of New York, New York, to merge with and into Wilshire State Bank, Los Angeles
Filed: 9/7/05
United National Bank, San Marino, to merge with and into East-West Bank, San Marino
Effected: 9/6/05
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
Effected: 9/1/05
United Labor Bank, FSB, Oakland, to convert from a federal savings bank to a state charter under the
name of United Labor Bank
Filed: 9/29/05
Change of Name
Bank of Visalia to change its name to Valley Business Bank
Effected: 6/29/05
California Commerce Bank, Los Angeles to change its name to Citibank (Banamex USA)
Notified: 9/28/05
Premium Finance Company Activity
New Premium Finance Company
AGIA Premium Finance Company, Inc.
6046 Cornerstone Court West, Suite 202, San Diego, San Diego County
Filed: 9/26/05
Life Credit Corporation
437 South Highway 101, Solana Beach, San Diego County
Approved: 9/13/05
Pericles Financial Corporation
6046 Cornerstone Court West, Suite 202, San Diego, San Diego County
Filed: 9/26/05
4 Monthly Bulletin September 2005
Acquisition of Control
James A. Walski, Maria A. Walski and Walski Family Trust, to acquire control of ClassicPlan Insurance
Premium Financing, Inc.
Withdrawn: 9/23/05
Foreign (Other Nation) Bank Activity
New Representative Office
Chinatrust Commercial Bank, Ltd.
17851 Colima Road, City of Industry, Los Angeles County (Representative Office)
Filed: 9/14/05
Foreign (Other State) Bank Activity
New Facility
Nationwide Fiduciary Services (Facility – Uninsured Bank)
2740 Fulton Court, City and County of Sacramento
Filed: 9/20/05
Square 1 Bank (Facility – Insured Bank)
250 University Avenue, Suite 300, Palo Alto, Santa Clara County
Notified: 8/15/05
Opened: 9/12/05
United Central Bank (Facility – Insured Bank)
41 East Huntington Drive, Arcadia, Los Angeles County
Opened: 4/11/05
Credit Union Activity
Silicon Valley Credit Union, Mountain View, to merge with and into, Meriwest Credit Union, San Jose
Filed: 6/15/05
Approved: 7/1/05
Effected: 9/1/05
U.F.C.W. Local 770 Credit Union, Hollywood, with and into Rancho Federal Credit Union, Downey
Filed: 4/29/05
Approved: 6/30/05
Effected: 7/31/05
5 Monthly Bulletin September 2005
Field of Membership
Five credit unions received approvals to add 25 new fields of membership during August 2005.
Bylaw Amendment
Three credit unions received approval for three bylaw amendments during August 2005.
Transmitter of Money Abroad Activity
New Transmitter
ADIR Money Transfer Corporation
Opened: 9/28/05
Dollar Delivery, Inc.
Opened: 9/8/05
Acting Commissioner of Financial Institutions
Bulletin for Month ended
September 2005, issued pursuant
to Financial Code section 258
The Monthly Bulletin is available without charge via e-mail. To subscribe, go to http://www.dfi.ca.gov/bulletin/subscription/public.asp. To
unsubscribe, send a blank e-mail to leave-dfi_public@blizzard.sparklist.com. Contact the list administration team at bulletin@dfi.ca.gov