DFI Monthly Bulletin – February 2006

Feb 1, 2006

Volume 9, Number 8

Winter Storms of 2005-06

Acting Commissioner Brian Yuen urges Department of Financial Institutions’ licensees to review their
lending policies to give appropriate latitude to customers affected by severe wind, rain, flooding and
mudslides due to winter storms. By proclamations dated January 2, 2006, January 3, 2006, and January
12, 2006 Governor Arnold Schwarzenegger declared a state of emergency in the following 34 counties
due to damages caused by these fatal storms: Alameda; Alpine; Amador; Butte; Colusa; Contra Costa;
Del Norte; El Dorado; Fresno; Humboldt; Kings; Lake; Lassen; Marin; Mendocino; Napa; Nevada;
Placer; Plumas; Sacramento; San Joaquin; San Luis Obispo; San Mateo; Santa Cruz; Shasta; Sierra;
Siskiyou; Solano; Sonoma; Sutter; Trinity; Tulare; Yolo; and Yuba, that commenced on December 19,
2005 and continued into 2006.
A number of disaster assistance programs have been implemented to assist businesses, farmers and
communities in recovering from the disaster. However, because of the nature and the widespread effect
it will have on the economy in these areas, the Acting Commissioner encourages the Department’s
licensees to work with customers in dealing with the economic hardships of this disaster.
Change in Filing Procedures for Certain Bank
This announcement is to advise licensees and others that file certain applications specified below of a
change in filing procedures. Beginning April 3, 2006, the applications noted below that are filed with
the Department should be accompanied by an electronic copy of the application, preferably in .pdf
format. The electronic version may be transmitted to the Department by CD-ROM accompanying the
paper applications, or may be submitted as an attachment to an e-mail addressed to
2 Monthly Bulletin February 2006
The following applications should include the original and one additional paper copy, along with an
electronic version of the filing:
• Acquisition of control;
• Merger;
• Conversion;
• Securities offering (including new bank initial public offerings); and
• The purchase or sale of a business unit.
The following applications should be made with one original paper version of the application along with
an electronic version of the filing;
• New banks; and,
• Establishment of trust powers.
The filing of all other applications, including branch applications, should follow previously established
procedures. These changes are being made in an effort to reduce the filing burden of applicants.
If you have any questions regarding the number of copies of applications to be filed, please contact the
Licensing Unit in the San Francisco office of the Department at 415-263-8552 or by email at
Final Order Issued
On February 21, 2006, the Acting Commissioner of Financial Institutions issued a final Cease and
Desist Order, pursuant to Financial Code Section 1818 (“Order”) against Envios R.D. Corp. (“Envios”).
The Order acknowledges Envios’ cessation of its business receiving money in California for
transmission to foreign countries as of December 31, 2005, and specifies procedures to be followed by
Envios to obtain the Acting Commissioner’s approval to resume the money transmission business.
Commercial Bank Activity
New Bank
1st Enterprise Bank
818 West Seventh Street, Suite 220, City and County of Los Angeles
Correspondent: Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 2/8/06
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New Bank (Continued)
Americas United Bank
801 North Brand Boulevard, Glendale, Los Angeles County
Correspondent: Richard Arnold
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Filed: 2/7/06
Community 1st Bank
2250 Douglas Boulevard, Roseville, Placer County
(916) 724-2424
Officers: Mark A. Lund, President and Chief Executive Officer
Todd A. Jensen, Chief Financial Officer
Jeff T. Moore, Chief Credit Officer
Capitalization: $17,600,000.00
Website: http://www.community1bank.com
Opened: 2/1/06
San Diego Private Bank
9404 Genesee Avenue, La Jolla, San Diego County
Correspondent: Maryam Hamzeh
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 2/17/06
Western Commercial Bank
21550 Oxnard Street, Woodland Hills, Los Angeles County
(818) 449-7700
(818) 449-7701 (fax)
Officers: Carl W. Raggio III, President and Chief Executive Officer
H. Tommy Woo, Executive Vice President and Chief Financial Officer
Kathleen C. Bryan, Executive Vice President and Chief Credit Officer
Gines Arnau, Executive Vice President and Chief Lending Officer
Capitalization: $13,731,490.00
Website: http://www.westerncommercialbank.com
Opened: 2/6/06
Community Bank of Central California, Salinas, to merge with and into Rabobank, National
Association, El Centro
Effected: 1/31/06
4 Monthly Bulletin February 2006
Merger (Continued)
Standard Bank, Monterey Park, to merge with and into East-West Bank, San Marino
Approved: 2/23/06
Premium Finance Company Activity
New Premium Finance Company
Advance Premium Finance, Inc. (name corrected from Advance Premium Funding, Inc.)
30448 Rancho Viejo Road, San Juan Capistrano, Orange County
Approved: 2/28/06
MDJ Financial, Inc.
6046 Cornerstone Court West, City and County of San Diego
Filed: 2/22/06
Premium Assistance Corporation
6046 Cornerstone Court West, City and County of San Diego
Approved: 2/1/06
San Joaquin Premium Finance, Inc.
5480 Baltimore Drive, La Mesa, San Diego County
Approved: 2/1/06
Security Credit Corporation
1333 Piedra Morada Drive, Pacific Palisades, Los Angeles County
Approved: 2/9/06
Acquisition of Control
New York Community Bancorp, Inc., to acquire control of Standard Funding of California, Inc.
Filed: 1/24/06
Voluntary Surrender of License
Premium Payment Plan, Inc.
Effected: 2/9/06
Foreign (Other Nation) Bank Activity
New Representative Office
eBANK Corporation
City and County of San Francisco
Filed: 2/8/06
5 Monthly Bulletin February 2006
Credit Union Activity
New Credit Union
Southern Pacific Latin American District (SPLAD) of the Assemblies of God
614 S. 5th Street, La Puente, Los Angeles County
Filed: 2/14/06
Change of Name
Transmitter of Money Abroad Activity
New Transmitter of Money Abroad
Banagricola de El Salvador, Inc.
Oponed: 2/21/06
Acting Commissioner of Financial Institutions
Bulletin for Month ended
February 2006, issued pursuant
to Financial Code section 258
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