DFI Monthly Bulletin – August 2006

Aug 1, 2006

Volume 10, Number 2

James Dong Appointed Chief Administrative Officer

Acting Commissioner Michael A. Kelley appointed James Dong as the Chief Administrative Officer for the Department of Financial Institutions effective August 16, 2006. Mr. Dong has over 27 years of California government experience, during which he has gained an extensive background in financial management with multiple agencies, including the Department of Finance, Department of Motor Vehicles, Department of Insurance, and most recently, the Department of Corrections and Rehabilitation. He also has management experience directing departmental administrative operations, including budget management, accounting services, human resources, information technology services,
administrative systems, and business management services.

Mr. Dong earned his Bachelor of Science Degree in Business Administration from California State University, Sacramento. He can be reached at (916) 445-2094 or by email at jdong@dfi.ca.gov. DFI Issues Cease and Desist Warning to Trinity Financial

A warning to cease and desist from doing business in California without a license from the Commissioner of Financial Institutions was issued to Trinity Financial, 2428 Fresno Avenue, Stockton, California 95206. Trinity Financial is not authorized to transact business in the way or manner of a bank and is not authorized to accept deposits, issue certificates of deposit, or advertise that it accepts deposits or issues certificates of deposit pursuant to Chapter 18 of Division 1 of the California Financial Code. All persons who have communicated with Trinity Financial are asked to contact the Department of Financial Institutions, Legal Division, San Francisco, at (415) 263-8541.

2 Monthly Bulletin August 2006
Legal Department Survey Results
On July 11, 2006, the Legal Department disseminated its first annual Legal Division Survey and Rating
(the “Survey”). The results of the Survey were most encouraging.
The Survey was broken up into three major components:
1. The first component was an overall rating of the Legal Division. The Survey asked the outside
counsel to indicate if they were (1) very satisfied, (2) satisfied, (3) some improvement needed,
(4) dissatisfied, or (5) extremely dissatisfied with the overall performance of the Legal Section.
2. After completing that overall rating, the respondents were then asked to rate the Legal Division’s
performances in nine specific areas on the same one-to-five scale.
3. Finally, the lawyers were asked to provide written comments detailing issues, complaints, or
compliments they wanted to discuss with the General Counsel.
The Survey was distributed to 74 lawyers, law firms, and inside counsel for licensees. Out of the 74
distributed Surveys, 33 were returned completed. The response rate represents approximately 45% of
those surveyed.
With regard to the first portion of the Survey, 31 attorneys rated their overall experiences with the Legal
Division as very satisfied, while the remaining two attorneys rated their overall experiences as satisfied.
So, 94% of the respondents gave the Department the highest possible overall rating.
As to the second portion of the Survey, 99% of the responses to the individual questions classified their
specific experiences as very satisfied or satisfied. Only 1% of the responses indicated that “some
improvement” was needed in certain areas.
As to the third portion of the Survey, the Department’s lawyers were individually and collectively
complimented by many of the respondents. Further, the individual comments that gave the Department
specific suggestions to improve the performance of the lawyers have been considered and appropriate
changes made as a result of those comments.
The Department is extremely pleased with the results of this First Annual Survey. The Department
believes the results are a positive reflection on the professionalism and competence of the entire Legal
Division, and the Department’s lawyers take great pride in recognizing that the public appreciates their
All licensees are encouraged to participate in surveys such as this and the Post Examination Survey.
These tools help enable the Department to gauge its effectiveness and to improve those areas that need
improvement based upon the survey results.
3 Monthly Bulletin August 2006
Commercial Bank Activity
New Bank
1st Capital Bank
1 Lower Ragsdale Drive, City and County of Monterey
Correspondent: Grace Wickersham
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Filed: 8/3/06
Community Valley Bank
1489 W. State Street, El Centro, Imperial County
Correspondent: Gary Steven Findley
Gary Steven Findley & Associates
1470 North Hundley Street
Anaheim, CA 92806
(714) 630-7136
Filed: 8/25/06
Folsom Lake Community Bank
1016 Riley Street, Folsom, Sacramento County
Correspondent: Grace Wickersham
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Filed: 8/31/06
Golden Coast Bank
850 Long Beach Boulevard, Long Beach, Los Angeles County
Correspondent: A. Wade Francis
Unicon Financial Services, Inc.
200 Pine Avenue, Suite 260
Long Beach, CA 90802
(562) 495-2040
Approved: 8/17/06
San Diego Private Bank
9404 Genesee Avenue, La Jolla, San Diego County
(858) 875-6900
Officers: Robert W. Armstrong, Chief Executive Officer
Janice Kassebaum, President/Chief Marketing Officer
Jennifer L. Roper, Executive Vice President/Chief Credit Officer
David Quizon, Chief Credit Officer
Capitalization: $12,400,000.00
Opened: 8/3/06
4 Monthly Bulletin August 2006
New Bank (Continued)
Stellar Business Bank
100 North Azusa Avenue, Covina, Los Angeles County
Correspondent: James Jones
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 8/18/06
Sunrise Community Bank
41-9900 Cook Street, Building H, Palm Desert, Riverside County
Correspondent: Joseph D. Reid III
Capitol Bancorp Limited
200 Washington Square North
Lansing, MI 48933
Filed: 8/25/06
Rancho Bank, San Dimas, to merge with and into Vineyard Bank, Corona
Effected: 7/31/06
Western State Bank, Duarte, to merge with and into Inland Community Bank, N.A., Rialto
Effected: 8/11/06
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
Effected: 8/1/06
Pacific Western National Bank, Santa Monica, to convert from national charter under the name of
Pacific Western Bank
Filed: 8/8/06
Acquisition of Control
First Bank, to acquire control of San Diego Community Bank
Effected: 8/15/06
ICB Financial, to acquire control of Western State Bank
Effected: 3/20/06
5 Monthly Bulletin August 2006
Foreign (Other Nation) Bank Activity
New Office
Mega International Commercial Bank Co., Ltd.
• 445 S. Figueroa Street, City and County of Los Angeles (Wholesale branch office)
• 333 West San Carlos Street, San Jose, Santa Clara County (Wholesale branch office)
Approved: 8/16/06
Change of name: 8/21/06 from The International Commercial Bank of China Co., Ltd.
Opened: 8/21/06
Royal Bank of Canada
City of Newport Beach, Orange County (Representative office)
Filed: 8/22/06
Discontinuance of Office
Chiao Tung Bank Co., Ltd. (Wholesale Branch Office)
Effected: 8/21/06
Credit Union Activity
Change of Name
Peninsula Postal Credit Union to change its name to Pacific Postal Credit Union
Effected: 7/1/06
Public Works Credit Union, to change its name to Westworks Credit Union
Effected: 4/13/06
Acting Commissioner of Financial Institutions
Bulletin for Month ended
August 2006, issued pursuant
to Financial Code section 258
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