Volume 10, Number 3

Local Agency Security Program

Called Report Due
The September 30, 2006 quarterly called reports for the Local Agency Security Program are due on
October 30, 2006. All depositories must submit a timely called report. Failure to submit a timely called
report can result in a fine, as specified in Government Code Section 53661.
If your depository does not maintain local agency deposits, please submit a certification to that effect
and send it to the Department of Financial Institutions by October 30, 2006. If you have any questions,
please call Patrick Lum at 916-323-7013 or email him at plum@dfi.ca.gov.
Annual Assessment
The annual assessment letters were sent on September 22, 2006. The assessment rate for 2006/07 fiscal
year is 0.0051199% or $1 per $19,532 in average local agency deposits for the fiscal year July 1, 2005
through June 30, 2006. This assessment rate is the same as last fiscal year. The payments are due on
October 16, 2006. If your average local agency deposits are $250,000 or more and you have not
received the assessment letter by October 3, 2006, or if you prefer to pay the invoice by electronic fund
transfer, please contact Patrick Lum at (916) 323-7013 or email him at plum@dfi.ca.gov.
2 Monthly Bulletin September 2006
Commercial Bank Activity
New Bank
Friendly Hills Bank
16011 East Whittier Boulevard, Whittier, Los Angeles County
(562) 947-1920
Officers: Jeffrey K. Ball, President, Chief Executive Officer, Director
L. E. (Bill) Thackery, Executive Vice President, Chief Credit Officer, Director
George W. Peterson, Executive Vice President, Chief Financial Officer
Capitalization: $16,160,000.00
Website: http://www.friendlyhillsbank.com
Opened: 9/18/06
New Resource Bank
405 Howard Street, City and County of San Francisco
(415) 357-1353
Officers: Clay Jones, President and Chief Executive Officer
Stephen R. Jones, Chief Financial Officer
Christopher A. Olson, Chief Credit Officer
Capitalization: $24,750,000.00
Website: http://www.newresourcebank.com
Opened: 9/19/06
Pacific Bank
11010 Artesia Boulevard, Cerritos, Los Angeles County
Correspondent: Russell W. Bushore
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Filed: 9/22/06
U.S. Metro Bank
9866 Garden Grove Boulevard, Garden Grove, Los Angeles County
(714) 620-8888
Officers: Dong Il Kim, President
Dianne Seo, Chief Financial Officer
Eunice Lim, Chief Credit Officer
Capitalization: $19,800,000.00
Opened: 9/15/06
3 Monthly Bulletin September 2006
Merger
First National Bank, Rancho Santa Fe, to merge with and into Pacific Western Bank, Santa Monica
Filed: 9/15/06
The Summit National Bank, Atlanta, Georgia, to merge with and into United Commercial Bank, San
Francisco, California
Filed: 9/29/06
Conversion to State Charter
Pacific Western National Bank, Santa Monica, to convert from national charter under the name of
Pacific Western Bank
Approved: 9/8/06
Effected: 9/13/06
Purchase of Partial Business Unit
Metro United Bank, San Diego, to acquire the Irvine Branch of Omni Bank, N.A., Alhambra
Effected: 9/8/06
Acquisition of Control
The Industrial Bank of Taiwan Co., Ltd. and IBT Holdings Corp., to acquire control of EverTrust Bank
Received: 9/29/06
Industrial Bank Activity
Conversion to State Charter
Tustin Community Bank, Tustin, to convert to a state-chartered commercial bank
Approved: 9/19/06
Premium Finance Company Activity
New Premium Finance Company
California Premium Finance Corp.
6046 Cornerstone Court West, City and County of San Diego
Filed: 9/14/06
Global Premium Funding, Inc.
4111 W. Alameda Drive, Burbank, Los Angeles County
Withdrawn: 9/5/06
Partners Premium Finance Company
2501 E. Chapman Avenue, Fullerton, Orange County
Opened: 9/6/06
4 Monthly Bulletin September 2006
Acquisition of Control
Prime Rate Premium Finance Corporation, Inc., to acquire control of AFCO Credit Corporation, Parent
Company of AFCO Acceptance Corp.
Filed: 9/13/06
Trust Company Activity
Change of Name
Arrowhead Trust Inc., San Bernardino, to change its name to ACU Financial Services
Notified: 9/8/06
Effected: 9/15/06
Credit Union Activity
Field of Membership
Four credit unions received approvals to add 7 new fields of membership during July 2006. Four credit
unions received approvals to add 10 new fields of membership during August 2006.
Bylaw Amendment
One credit union received approval for 1 bylaw amendment during July 2006. Two credit unions
received approval for 3 bylaw amendments during August 2006.
Variance
Two credit unions received approval for requests for variances to sections of the California Code of
Regulations during August 2006.
Merger
Inwood Credit Union, Oakland, to merge with and into Provident Credit Union, Redwood City
Filed: 5/31/06
Approved: 7/6/06
Effected: 9/1/06
South Coast Community Federal Credit Union, Goleta, to merge with and into Wescom Credit Union,
Pasadena
Effected: 9/26/06
5 Monthly Bulletin September 2006
Transmitter of Money Abroad Activity
New Transmitter of Money Abroad
Euronet Payment and Remittance, Inc.
Opened: 9/13/06
Metro Remittance Center (California), Inc.
Withdrawn: 6/14/06
MICHAEL A. KELLEY
Acting Commissioner of Financial Institutions
Bulletin for Month ended
September 2006, issued pursuant
to Financial Code section 258
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