Department of Financial Institutions Enters into a Settlement Agreement with Antequera, Inc., a Licensed Money Transmitter
San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Community 1st Bank will open its doors in Roseville on February 1, 2006 with an initial capital of $17.6 million.
“I am pleased to welcome Community 1st Bank – the first new bank to open in 2006 – and to report that state-chartered banks continue to grow and prosper in California,” said Brian Yuen, Acting Commissioner of Financial Institutions. During the last five years, 61 new state-chartered banks have opened with DFI approval. In addition, over 120 branches also opened their doors. “Each new bank has its unique characteristics, which range from serving a small community or ethnic community to offering special services for small businesses and professionals,” added Yuen.
Community 1st Bank is located at 2250 Douglas Boulevard, Suite 100, Roseville, CA 95661. The bank’s telephone number is (916) 724-2424. Their Web address is www.community1bank.com.
Mark A. Lund will serve at President and CEO; Todd A. Jensen as Chief Financial Officer; and Jeff T. Moore as Chief Credit Officer.
Like all California state-chartered banks, Community 1st Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.
DFI supervises over 650 financial institutions. The Department is responsible for administering state laws regulating state-licensed financial institutions: banks, credit unions, industrial banks, savings associations, trust companies, offices of foreign banks, issuers of travelers’ checks and payment instruments (money orders), and transmitters of money abroad. DFI reports to Business, Transportation & Housing Agency Secretary Sunne Wright McPeak and Gov. Arnold Schwarzenegger.
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