DFI Monthly Bulletin – January 2006

Jan 1, 2006

Volume 9, Number 7

DFI and Antequera, Incorporated enter into a Settlement

On January 13, 2006, the Acting Commissioner of Financial Institutions entered into a settlement
agreement with Antequera, Incorporated (“Antequera”) in which Antequera agreed to pay $5,000 to the
Department, and the Acting Commissioner agreed to take no further action with respect to alleged
violations of Financial Code Section 1805, related to alleged incomplete and untimely reporting.
Home Mortgage Disclosure Act (HMDA)
Requirements for Credit Unions
Reporting Deadline and Address
Credit unions required to comply with the HMDA requirements are reminded to submit your calendar
year (CY) 2005 HMDA data no later than March 1, 2006. Late filing may subject the credit union to
civil money penalties, as several credit unions had experienced in the past. Given the importance of
accurate and timely submission of the HMDA data, we encourage credit unions to file the HMDA
Loan/Application Register (LAR) early. This will allow mistakes, errors, or problems to be resolved
before the deadline. Credit unions can use the following methods for sending your submission to the
FRB’s processing center, which processes the HMDA files on the behalf of NCUA:
• Email the encrypted HMDA file to hmdasub@frb.gov (preferred method), or
• Mail your HMDA data on diskette or CD-ROM to the following address:
Federal Reserve Board
Attention: HMDA Processing, NCUA
20th & Constitution Avenue, NW
MS N502
Washington, DC 20551-0001
2 Monthly Bulletin January 2006
Who Must Report?
A credit union, regardless of its share insurer, is required to collect and report HMDA data if it answers
“YES” to all of the following questions:
1. Does the credit union’s total assets exceed the threshold limit set annually by the Federal
Reserve Board on the preceding December 31 (e.g., must report CY 2005 HMDA if asset size
exceeds $34 million as of 12/31/2004 or must report CY 2006 HMDA if asset size exceeds $35
million as of 12/31/2005.)
2. Does the credit union have a home or branch office in a metropolitan statistical area or
metropolitan division (MSA/MD) on the preceding December 31? For a listing of the MSA/MD,
see http://www.ffiec.gov/webcensus/ffieccensus.htm
3. In the previous calendar year, did the credit union originate at least one home purchase loan or
refinancing of a home purchase loan secured by a first lien on a one-to-four-family dwelling?
4. Is the credit union federally insured, or are the above mentioned loans federally insured,
guaranteed, or supplemented, or are the above mentioned loans intended for sale to the FNMA or
If your credit union is not required to report HMDA data with a federal agency, it may still be
considered a “lender” for reporting purposes under California lending regulations, and may be required
to file a Residential Mortgage Loan Report with the DFI [Title 21 California Code of Regulations
7117(c)]. Please refer to our website address http://www.dfi.ca.gov/forms/cu/form370.pdf for reporting
requirements and the corresponding form.
Data Collection Procedure Change
Effective January 1, 2006, if there are updates or corrections to the HMDA LAR following the initial
submission, a complete resubmission of all data is required for calendar years 2004 and forward.
Manual changes will no longer be accepted via e-mail, fax or telephone, unless your credit union’s
initial HMDA submission: (1) contains greater than 350,000 LARs (loans/entries) and has less than 10
field corrections, or (2) is paper copy and contains 25 or fewer entries and has less than 10 corrections.
Credit unions meeting the above exceptions should fax all pages that contain changes to (202) 452-6497.
Asset-Size Exemption Threshold
The Federal Reserve Board has increased the asset-size exemption threshold for depository institutions
to $35 million as of December 31, 2005. As a result, credit unions with assets of $35 million or less as
of December 31, 2005, are exempt from data collection in the 2006 calendar year. Please be advised
that if the credit union was required to report for the 2005 calendar year, an exemption in 2006 does not
relieve its responsibility to collect and file 2005 data.
3 Monthly Bulletin January 2006
Additional information regarding HMDA requirements can be found at:
HMDA Website http://www.ffiec.gov/hmda/default.htm
A Guide to HMDA Reporting http://www.ffiec.gov/hmda/guide.htm
Technical Submission Questions: (202) 452-2016 or email hmdahelp@frb.gov
If you have questions, you may also contact the appropriate person in the respective DFI office:
Beverly Ryan (415) 263-8560
Joni Kimbrell (213) 897-2168
Bert McLane (213) 897-9351
Commercial Bank Activity
New Bank
Atlantic Pacific Bank
3725 Westwind Boulevard, Santa Rosa, Sonoma County
Correspondent: Maryam Hamzeh
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 1/30/06
One America Bank
515 South Flower Street, City and County of Los Angeles 90071
Correspondent: Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Filed: 1/23/06
Cedars Bank, Los Angeles, to merge with and into Pacific Western National Bank, Santa Monica
Effected: 1/4/06
Standard Bank, Monterey Park, to merge with and into East-West Bank, San Marino
Filed: 1/17/06
4 Monthly Bulletin January 2006
Acquisition of Control
ICB Financial to acquire control of Western State Bank
Filed: 12/30/05
Santa Lucia Bancorp to acquire control of Santa Lucia Bank
Filed: 1/13/06
VIB Corp to acquire control of Community Bank of Central California
Approved: 1/6/06
Change of Name
California Commerce Bank, Los Angeles to change its name to Citibank (Banamex USA)
Effected: 1/3/06
Premium Finance Company Activity
New Premium Finance Company
Advance Premium Funding, Inc.
30448 Rancho Viejo Road, San Juan Capistrano, Orange County
Filed: 1/17/06
AGIA Premium Finance Company, Inc.
6046 Cornerstone Court West, Suite 202, City and County of San Diego
Opened: 1/24/06
Concord Capital Funding, Inc.
18400 Von Karman Avenue, Suite 800, Irvine, Orange County
Name changed from Isthmus Capital Inc.
Approved: 1/19/06
E.T.I. Financial Corporation
2501 E. Chapman Ave, Fullerton, Orange County
Approved: 1/18/06
Premium Assistance Corporation
6046 Cornerstone Court West, City and County of San Diego
Filed: 1/6/06
San Joaquin Premium Finance, Inc.
5480 Baltimore Drive, La Mesa, San Diego County
Filed: 1/6/06
5 Monthly Bulletin January 2006
Change of Name
Credit Suisse First Boston Premium Finance Corp., Los Angeles, to change its name to Credit Suisse
Premium Finance Corp.
Approved: 1/6/06
Effected: 1/16/06
Westchester Premium Acceptance Corporation of California, Woodland Hills, to change its name to
California Flatiron Corp.
Effected: 12/21/05
Foreign (Other Nation) Bank Activity
New Representative Office
Credit Suisse
• 19200 Von Karman Avenue, Irvine, Orange County (Representative Office)
• 2121 Avenue of the Stars, City and County of Los Angeles (Representative Office)
• 2400 Hanover Street, Palo Alto, Santa Clara County (Representative Office)
• 650 California Street, City and County of San Francisco (Representative Office)
Filed: 1/6/06
Change of Name
The Bank of Tokyo-Mitsubishi, Ltd., to change its name to The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Effected: 1/1/06
Foreign (Other State) Bank Activity
New Facility
Nationwide Fiduciary Services (Facility – Uninsured Bank)
2740 Fulton Court, City and County of Sacramento
Withdrawn: 1/12/06
The Provident Bank (Facility – Insured Bank)
19000 MacArthur Blvd, Irvine, Orange County
Discontinued: 9/17/04
Silver State Bank (Facility – Insured bank)
12 Southcrest Court, City and County of Sacramento
Notified: 1/6/06
Opened: 12/7/05
6 Monthly Bulletin January 2006
Credit Union Activity
Horizon Credit Union, Fresno, to merge with and into Valley First Credit Union, Modesto
Approved: 1/5/06
Interguild Federal Credit Union, to merge with and into Musicians Credit Union, Hollywood
Filed: 11/8/05
JBL Employees Federal Credit Union, to merge with and into Premier America Credit Union,
Filed: 11/16/05
Approved: 12/8/05
Effected: 1/6/06
Kai-Perm Sacramento Federal Credit Union, Sacramento, to merge with and into Sacramento Credit
Union, Sacramento
Effected: 11/18/05
South Gate City Employees Credit Union, South Gate, to merge with and into CalCom Federal Credit
Filed: 9/21/05
Date Approved: 10/31/05
Effected: 12/31/05
SSP Employees Federal Credit Union, to merge with and into Wescom Credit Union, Pasadena
Filed: 11/16/05
Approved: 11/28/05
Effected: 1/4/06
Field of Membership
Eleven credit unions received approvals to add 31 new fields of membership during December 2005.
Bylaw Amendment
Three credit unions received approval for three bylaw amendments during December 2005.
Change of Name
Peninsula Postal Credit Union to change its name to Pacific Postal Credit Union
Filed: 12/1/05
Approved: 12/7/05
7 Monthly Bulletin January 2006
Transmitter of Money Abroad Activity
New Transmitter
JOM Corp.
Opened: 1/20/06
Associated Foreign Exchange, Inc., Encino, to merge with and into RIA Telecommunications, Inc.
Effected: 12/29/05
Change of Name
RIA Telecommunications, Inc. to change its name to Continental Exchange Solutions, Inc.
Effected: 12/29/05
Acquisition of Control
Grupo Banistmo, S.A., to acquire control of BancoSal, Inc.
Approved: 1/26/06
Issuer of Payment Instrument Activity
Travelers Express Company to merge with and into MoneyGram Payment Systems, Inc.
Effected: 12/31/05
Acting Commissioner of Financial Institutions
Bulletin for Month ended
January 2006, issued pursuant
to Financial Code section 258
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