DFI Monthly Bulletin – April 2006

Apr 1, 2006

Volume 9, Number 10

Warning Notice

\A warning to cease and desist from doing business in California without a license from the
Commissioner of Financial Institutions was issued to Grant Trust Company, 8350 Wilshire Blvd., Suite
200, Beverly Hills, CA, 90211.
Grant Trust Company is not authorized to transact business in the way or manner of a commercial trust
company and is not authorized to transact business under a name which contains the word “trust” and
indicates the business is that of a commercial trust company pursuant to Chapter 18 of Division 1 of the
California Financial Code. All persons who have communicated with Grant Trust Company are asked
to contact the Department of Financial Institutions, Legal Division, San Francisco, at (415) 263-8514.
Frank Bushnell Promoted to Assistant Deputy
Frank Bushnell was promoted to the position of Assistant Deputy Commissioner, Division of
Examinations-Banking, Sacramento Region effective April 28, 2006.
Frank joined the California State Banking Department (now the Department of Financial Institutions) in
1993 as a Bank Examiner in the Sacramento Regional Office, promoted to the position of Senior
Examiner in 1999 and performed the duties of Financial Institutions Supervisor in the Sacramento
Regional Office in 2006.
Mr. Bushnell received his Bachelor of Science degree in Finance and Business Administration in 1987
from California State University, Fresno, graduated with honors from the Graduate School of Banking at
Colorado in 2005 and is a Certified Examiner in Charge.
2 Monthly Bulletin April 2006
2006 Financial Institutions Law Now Available
The Banking Law, Industrial Bank Law, Payment Instrument Law, Business and Industrial
Development Corporation Law, Savings Association Law, Credit Union Law, Industrial Loan Law and
Related Laws as of January 1, 2006 is available in PDF format from the Department of Financial
Institutions’ (DFI) Web site at http://www.dfi.ca.gov/lawsreg/. A CD of the Law is in the process of
being mailed to each DFI licensee.
For more information, please contact Patrick Carroll at (415) 263-8559 or by email at
Senior Summit 2006: Protecting and Serving
California’s Aging Population
The Department of Financial Institutions will be participating in a first-of-its kind event: Senior Summit
2006: Protecting and Serving California’s Aging Population on May 12, 2006, at the Sacramento
Convention Center.
This Summit, presented by the California Department of Consumer Affairs, will bring together state,
federal and local government agencies, community-based organizations and other providers of services
to seniors. We will discuss the problems and issues facing California’s seniors, how those issues are
currently being addressed, and ways to create partnerships to better meet the needs of elderly
There will be 14 seminars throughout the day, including seminars on privacy and identity theft;
consumer and real estate scams that target seniors; elder financial abuse; education, media relations and
outreach for non-English speaking seniors; health insurance; and government services to seniors.
We hope you will join us in participating in this FREE all-day summit. Continental breakfast and a
boxed lunch will be provided.
For more information about the summit, visit www.seniorsummit.ca.gov . To register, click on the
“Register HERE” link.
Commercial Bank Activity
New Bank
Alta California Bank
1951 Webster Street, Oakland, Alameda County
Correspondent: Arnold Grisham
360 – 17th Street, Ste. 150
Oakland, CA 94612
(510) 625-9040
Filed: 4/24/06
3 Monthly Bulletin April 2006
New Bank (Continued)
Fortis Business Bank
Vicinity of Main Street and 17th Street, Santa Ana, Orange County
Correspondent: James H. Avery
James H. Avery Company
P.O. Box 3009
San Luis Obispo, CA 93403
(805) 544-5477
Filed: 4/3/06
Golden Coast Bank
850 Long Beach Boulevard, Long Beach, Los Angeles County
Correspondent: A. Wade Francis
Unicon Financial Services, Inc.
200 Pine Avenue, Suite 610
Long Beach, CA 90802
(562) 495-2040
Filed: 4/4/06
Golden Valley Bank
190 Cohasset Road, Chico, Butte County
(530) 894-1000
Officers: Mark Francis, President and Chief Executive Officer
Dawna Hoofard, Chief Financial Officer
Richard Timmons, Chief Credit Officer
Capitalization: $15,389,490.00
Opened: 4/24/06
Mega Bank
245 West Valley Blvd., San Gabriel, Los Angeles County
Correspondent: Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
Filed: 4/26/06
(949) 261-8888
New Resource Bank
405 Howard Street, City and County of San Francisco
Correspondent: Robert E. Sjogren
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 4/10/06
New Bank (Continued)
4 Monthly Bulletin April 2006
One America Bank
515 South Flower Street, City and County of Los Angeles
Correspondent: Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 4/18/06
Great Eastern Bank, New York, New York, to merge with and into Cathay Bank, Los Angeles
Approved: 4/18/06
Liberty Bank of New York, New York, to merge with and into Wilshire State Bank, Los Angeles
Approved: 3/28/06
NVB Business Bank, Woodland to merge with and into North Valley Bank, Redding
Filed: 4/4/06
Conversion to State Charter
Orange County Business Bank, N.A., Newport Beach to convert from national charter under the name of
Orange County Business Bank
Filed: 4/3/06
Acquisition of Control
Mirae Bancorp to acquire control of Mirae Bank
Filed: 4/4/06
ICB Financial, to acquire control of Western State Bank
Approved: 3/20/06
Orange Community Bancorp to acquire control of Orange Community Bank
Filed: 4/306
Change of Name
Citizens Bank of Nevada County to change its name to Citizens Bank of Northern California
Effected: 4/19/06
5 Monthly Bulletin April 2006
Premium Finance Company Activity
New Premium Finance Company
E.T.I. Financial Corporation
2501 E. Chapman Ave, Fullerton, Orange County
Opened: 4/19/06
Security Credit Corporation
1333 Piedra Morada Drive, Pacific Palisades, Los Angeles County
Opened: 4/10/06
Acquisition of Control
Firstbank, to acquire control of UPAC of California, Inc.
Filed: 3/22/06
Approved: 4/4/06
TD Banknorth, National Association, to acquire control of California Flatiron Corp. and FPCAL, Inc.
Filed: 3/23/06
Trust Company Activity
Acquisition of Control
Whittier Trust Company of Nevada to acquire control of Whittier Trust Company
Filed: 4/4/06
Foreign (Other Nation) Bank Activity
New 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)
Approved: 4/20/06
Taiwan Cooperative Bank, Ltd.
601 South Figueroa Street, Los Angeles, Los Angeles County (Limited Branch Office)
Filed: 2/17/06
Approved: 4/28/06
6 Monthly Bulletin April 2006
Foreign (Other State) Bank Activity
New Facility
Independence Community Bank
1901 Avenue of the Stars, Suite 700, Los Angeles, Los Angeles County
Notified: 4/21/06
Credit Union Activity
Field of Membership
Nine credit unions received approvals to add 16 new fields of membership during March 2006.
Bylaw Amendment
Two credit unions received approval for three bylaw amendments during March 2006.
Five credit unions received an approval for a request for variance to sections of the California Code of
Regulations during March 2006.
Conversion to State Charter
U.S. First Federal Credit Union, San Mateo to convert from federal charter under the name U.S. First
Credit Union
Filed: 8/31/05
Approved: 11/22/05
Effected: 4/3/06
AC Transit Employees Federal Credit Union, Oakland into Oakland Municipal Employees Credit
Union, Oakland
Filed: 3/28/06
Approved: 4/13/06
Affinity West Federal Credit Union, Los Angeles with and into Public Works Credit Union, Alhambra
Filed: 3/7/06
7 Monthly Bulletin April 2006
Transmitter of Money Abroad Activity
New Transmitter of Money Abroad
Associated Foreign Exchange
Filed: 4/24/06
Nexxo Financial Corporation
Filed 4/25/06
Final Order (Financial Code Section 1818)
Banmetropolitano Corporation, City and County of Los Angeles
Terminated: 4/18/06
Acting Commissioner of Financial Institutions
Bulletin for Month ended
April 2006, issued pursuant
to Financial Code section 258
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