Volume 10, Number 6

Governor Appoints Michael A. Kelley as Commissioner of Financial Institutions

Governor Schwarzenegger announced the appointment of Michael A. Kelley as Commissioner of
Financial Institutions on Thursday, December 28, 2006.
Kelley has over thirty-three years of service with the State of California. Since June 2006, he has served
as acting commissioner of financial institutions. From 2004 to 2006, Kelley served as the chief financial
and administrative officer for the Secretary of the Business, Transportation and Housing Agency. He
was the chief of performance review for the Department of Finance from 2002 to 2004, where his duties
included preparing, presenting and supporting the annual financial plan for the State. Prior to that,
Kelley was principal program budget analyst for the Department of Finance from 2000 to 2002. He
worked for the Department of Insurance as a chief deputy commissioner from 1999 to 2000 and a
deputy commissioner from 1995 to 1999. Previously, he was division chief of the Department of Motor
Vehicles from 1991 to 1995 and director of the Department of Consumer Affairs from 1987 to 1991.
Commissioner Kelley may be contacted at the following address and telephone number:

Department of Financial Institutions
Commissioner’s Office
1810 13th Street
Sacramento, CA 95814
916-322-5967
2 Monthly Bulletin December 2006
DFI Seeks Licensees’ Press Releases and
Community Interest Stories
If your state-chartered financial institution sends out press releases, please consider adding the
Department of Financial Institutions (DFI) to your distribution list. We particularly enjoy hearing about
what your institution is doing in the community. For example, if you announced that your financial
institution is providing services to victims of recent fires or earthquakes, or you are raising funds to
promote financial literacy, or you have a new brochure for Spanish speaking consumers—we’d like to
know.
The DFI Public Information and Outreach staff will use your press releases to develop feature stories for
the DFI Web site and other materials that highlight the activities of state-chartered financial institutions.
Please send press releases and community interest stories to Alana Golden at the Sacramento office,
1810—13th Street, Sacramento, CA 95814, Fax: (916) 445-7643. Contact Ms. Golden at (916) 323-
7012 or by e-mail at agolden@dfi.ca.gov for more information.
DFI Supports Direct Deposit with Go Direct
The Department of Financial Institutions (DFI) encourages its licensees to become involved with Go
Direct, a national campaign sponsored by the U.S. Department of the Treasury and the Federal Reserve
Bank to encourage those who receive federal benefit checks by direct deposit in order to eliminate the
risk of stolen checks, reduce fraud and save taxpayers money.

One program that promotes direct deposit enrollment locally is Bank on San Francisco, a partnership
created by San Francisco Treasurer José Cisneros, Mayor Gavin Newsom and the Federal Reserve Bank
to bring 10,000 of the estimated 50,000 unbanked households in San Francisco into the financial
mainstream by helping them to open a low-cost, starter bank account. DFI acknowledges the
participation of its licensees in Go Direct and Bank on San Francisco and encourages others to do
likewise.
To learn more about Go Direct and Bank on San Francisco visit their Web sites at
http://www.godirect.org/ and http://www.sfgov.org/site/bankonsf_index.asp. Contact them at (952)
346-6055 (Go Direct) and (415) 415-554-4409 (Bank on San Francisco) or by email at
GoDirect@webershandwick.com and bankonsf@sfgov.org.
DFI Licensees win Desjardins Youth Financial
Education Awards
Department of Financial Institutions (DFI) licensees Redwood Credit Union and Sonoma County
Grange Credit Union each won first place in their category in the statewide Desjardins Youth Financial
Education Awards, which recognize leadership within the credit union movement on behalf of youth
financial literacy.
3 Monthly Bulletin December 2006
Redwood Credit Union in Santa Rosa, California won in the $200 million or more asset category.
Sonoma County Grange Credit Union, also from Santa Rosa won in the $20 to $80 million asset
category.
The Desjardins Youth Financial Education Awards are administered at the national level by the Credit
Union National Association and at the state level by state leagues. The award considers all activities
supporting the personal finance education of young members and non-members, including, but not
limited to, classroom teaching, publicity, lobbying for curriculum requirements, teacher and volunteer
training, and promotion and use of the National Endowment for Financial Education’s High School
Financial Planning Program.
The award is named in honor of Gabriel-Alphonse Desjardins, the founder of the North American credit
union movement, who established the first caisse populaire, or people’s bank, in Québec in 1900, and
helped establish the first American credit union in New Hampshire in 1909. Desjardins was an ardent
believer in the value of teaching children to save, and he promoted the idea of in-school savings
programs, or caisses scolaires.
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
Approved: 12/11/06
Access Business Bank
Vicinity of 184 Technology Drive, Irvine, Orange County
Correspondent: Tom S. Byington
Access Business Bank (Proposed)
30200 Rancho Viejo Road, Suite C
San Juan Capistrano, CA 92675
Approved: 12/1/06
California Bank of Commerce
3595 Mt. Diablo Blvd., Lafayette, Contra Costa County
Correspondent: Maryam Hamzeh
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Filed: 12/22/06
4 Monthly Bulletin December 2006
New Bank (Continued)
Cathay Interim Bank
777 North Broadway, City and County of Los Angeles
Correspondent: Maureen Young
Bingham McCutchen
Three Embarcadero Center
San Francisco, CA 94111
(415) 393-2788
Filed: 12/5/06
Approved: 12/6/06
(In connection with the merger of United Heritage Bank, Edison, New Jersey, with and into Cathay
Bank, Los Angeles, California)
Embarcadero Bank
110 West A Street, Suite 1000, San Diego, San Diego County
(619) 814-1740
(619) 595-7975 (fax)
Officers: Stephen Rippe, Chief Executive Officer & Chief Credit Officer
Maria P. Kunac, President & Chief Lending Officer
Stephen D. Cooper, Chief Financial Officer
Capitalization: $21,065,000.00 (includes $160,426 in net pre-opening income)
Opened: 12/18/06
Mega Bank
245 West Valley Blvd., San Gabriel, Los Angeles County
Correspondent: Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved : 12/15/06
Pacific Alliance Bank
8400 East Valley Boulevard, Rosemead, Los Angeles County
(626) 773-8888
(626) 773-8899 (fax)
Website: www.pacificalliancebank.com
Officers: Robert Oehler, President & Chief Executive Officer
Janet Ha, Executive Vice President & Chief Credit Officer
Joe Teo, Executive Vice President & Chief Financial Officer
Capitalization: $16,576,860.00
Opened: 12/27/06
5 Monthly Bulletin December 2006
New Bank (Continued)
Partners Bank of California
27101 and 27201 Puerta Real, Mission Viejo, Orange County
Correspondent : Jeffrey Rigsby
President and Chief Executive Officer
Community Bank Ventures
10200 Rancho Viejo Road, Suite C
San Juan Capistrano, CA 92675
(949) 542-8550
Filed: 12/29/06
Merger
United Heritage Bank, Edison, New Jersey to merge with and into Cathay Bank, Los Angeles,
California
Filed: 12/28/06
Sale of Partial Business Unit
Wilshire State Bank, Los Angeles, California to sell the Flushing Branch to Royal Asian Bank,
Philadelphia, Pennsylvania
Filed: 12/21/06
Acquisition of Control
First California Financial Group, to acquire control of First California Bank
Approved: 12/22/06
Final Order (Financial Code section 1913)
First Vietnamese American Bank
8990 Westminster Avenue, Westminster, Orange County
Issued: 12/22/06
Premium Finance Company Activity
New Premium Finance Company
Advance Premium Finance, Inc.
27992 Camino Capistrano, Laguna Niguel, Orange County
Address changed: on 12/11/06 from 30448 Rancho Viejo Road, San Juan Capistrano, Orange County
Opened: 12/11/06
AMGRO Premium Financing, Inc.
1410 Rocky Ridge Road, Roseville, Placer County
Filed: 12/13/06
California Premium Finance Corp.
6 Monthly Bulletin December 2006
6046 Cornerstone Court West, City and County of San Diego
Opened: 12/11/06
Farwest Premium Finance Co., Inc.
5480 Baltimore Drive, Suite 205, La Mesa, San Diego County
Filed: 12/26/06
New Premium Finance Company (Continued)
Mid Continent Premium Finance, Inc.
6046 Cornerstone Court West, City and County of San Diego
Filed: 12/14/06
Omega Premium Finance, Inc.
2501 E. Chapman Avenue, Fullerton, Orange County
Filed: 12/14/06
Premium Finance, Inc.
5480 Baltimore Drive, La Mesa, San Diego County
Opened: 12/7/06
Silverton Insurance Financial, Inc.
5480 Baltimore Drive, Suite 205, La Mesa, San Diego County
Filed: 12/26/06
Valley Premium Finance Company
2501 E. Chapman Avenue, Fullerton, Orange County
Approved: 12/11/06
Westport Financial Services, Inc.
2501 E. Chapman Avenue, Fullerton, Orange County
Filed: 12/13/06
Industrial Bank Activity
Final Order (Financial Code section 1913)
Silvergate Bank
4275 Executive Square, Suite 800, La Jolla, San Diego County
Issued: 12/22/06
Foreign (Other Nation) Bank Activity
New Office
Macquarie Bank Limited
City and County of San Francisco (Representative Office)
Filed: 7/17/06
Approved 12/22/06
7 Monthly Bulletin December 2006
New Office (Continued)
Mizrahi Tefahot Bank Ltd.
800 Wilshire Boulevard, City and County of Los Angeles (Representative Office)
Withdrawn: 12/14/06
Royal Bank of Canada
City of Newport Beach, Orange County (Representative Office)
Approved: 12/22/06
Change of Name
Liu Chong Hing Bank Limited, to change its name to Chong Hing Bank Limited (Wholesale Branch
Office)
Effected: 12/23/06
Natexis Banques Populaires, to change its name to Natixis (Representative Office)
Effected: 11/17/06
Foreign (Other State) Bank Activity
New Facility
The Bankers Bank (Facility – Insured Bank)
4490 El Corazon, Camarillo, Ventura County
Opened: 12/4/06
First International Bank (Facility – Insured Bank)
17595 Almahurst Street, City of Industry, Los Angeles County
Notified: 12/19/06
Credit Union Activity
Field of Membership
Seven credit unions received approvals to add 17 new fields of membership during November 2006.
Bylaw Amendment
One credit union received approval for two bylaw amendments during November 2006.
Trust Company Activity
Voluntary Surrender of License
ACU Financial Services
Effected: 12/1/06
8 Monthly Bulletin December 2006
Transmitter of Money Abroad Activity
New Transmitter of Money Abroad
GPC International, Inc.
Filed: 11/1/06
Nexxo Financial Corporation
Approved: 12/13/06
Pronto Money Transfer, Inc.
Filed: 10/10/06
MICHAEL A. KELLEY
Commissioner of Financial Institutions
Bulletin for Month ended
December 2006, issued pursuant
to Financial Code section 258
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