DFI Monthly Bulletin – February 2007

Feb 1, 2007

Volume 10, Number 8

Retirement of Brian Yuen

Brian Yuen retired on February 28, 2007 after almost 33 years of service with the Department. Mr.
Yuen joined the State Banking Department, the predecessor agency to the Department of Financial
Institutions on October 1, 1974 as a junior examiner in the San Francisco Office, and held a variety of
positions of during his career.
After having served as Deputy Commissioner, Southern California Region, Assistant Deputy
Commissioner, San Francisco Regional Office and Financial Institution Supervisor, Mr. Yuen was
appointed Chief Examiner on July 1, 2004. As Chief Examiner, he supervised all of the Department’s
bank examination and bank supervision activities. On October 3, 2005 he was appointed as Acting
Commissioner of the Department of Financial Institutions. Mr. Yuen resumed the position of Chief
State Bank Examiner on June 1, 2006, upon the appointment of Michael A. Kelley as Acting
Commissioner.
On January 30, 2007 Senior Deputy Craig Carlson was appointed as the Acting Chief Examiner for the
Department.
DFI and G&T Continental, Inc. Enter into an
Agreement
On February 26, 2007, the Commissioner of Financial Institutions entered into a settlement agreement
with G&T Continental, Inc. (“G&T”), in which G&T agreed to pay $2,500 to the Department, and the
Commissioner agreed to take no further action with respect to alleged violations of the Financial Code
related to untimely submission of reports.
2 Monthly Bulletin February 2007
DFI and Motran Services, Inc. Enter into an
Agreement
On February 7, 2007, the Commissioner of Financial Institutions entered into a settlement agreement
with Motran Services, Inc. (“Motran”), in which Motran agreed to pay $5,000 to the Department, and
the Commissioner agreed to take no further action with respect to alleged violations of the Financial
Code related to incomplete signage.
DFI and Sigue Corporation Enter into an Agreement
On February 1, 2007, the Commissioner of Financial Institutions entered into a settlement agreement
with Sigue Corporation (“Sigue”), a licensed money transmitter, in which Sigue agreed to pay $140,000
to the Department and the Commissioner agreed to take no further action with respect to alleged
violations of the Financial Code related to the use of unapproved receipts and failure to post signs in
both English and Spanish.
Commercial Bank Activity
New Bank
American Principle Bank
4041 Broad Street, City and County of San Luis Obispo
Correspondent: David R. Booker
P.O. Box 1918
San Luis Obispo, CA 93406
(805) 546-1064
Filed: 2/6/07
Capital Bank
31351 Rancho Viejo Road, San Juan Capistrano, Orange County
Correspondent: Russell Bushore
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 2/14/07
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
Approved: 2/15/07
3 Monthly Bulletin February 2007
New Bank (Continued)
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
Approved: 2/16/07
Security First Bank
3720 North Blackstone Avenue, City and County of Fresno
(559) 225-1700
Officers: Edmond C. Lelandais, President and Chief Executive Officer
Steve C. Jones, Chief Financial Officer
Henry Fierro, Chief Credit Officer
Capitalization: $17,000,000.00
Website: http://www.securityfirstfresno.com
Opened: 2/12/07
Sunrise Community Bank
74-040 Highway 111, Palm Desert, Riverside County
(760) 346-6139
Officers: Stu Bailey, President
Tay Fried, Executive Vice President/Chief Operating Officer
Daniel T. Granci, Executive Vice President/Chief Credit Officer
Capitalization: $8,000,000.00
Opened: 2/27/07
Merger
The Chinese American Bank, New York, New York, to merge with and into United Commercial Bank,
San Francisco, California
Filed: 1/16/07
Legacy Bank, N.A., Campbell, to merge with and into United Security Bank, Fresno
Effected: 2/16/07
Acquisition of Control
The Industrial Bank of Taiwan Co., Ltd. and IBT Holdings Corp., to acquire control of EverTrust Bank
Approved: 2/1/07
Redwood Capital Bancorp to acquire control of Redwood Capital Bank
Filed: 1/18/07
4 Monthly Bulletin February 2007
Sale of Partial Business Unit
Wilshire State Bank, Los Angeles, California, to sell the Flushing Branch to Royal Asian Bank,
Philadelphia, Pennsylvania
Approved: 2/21/07
Purchase of Partial Business Unit
Wilshire State Bank, Los Angeles, California, to acquire the Fort Lee Branch of Royal Bank America,
Narbeth, Pennsylvania
Approved: 2/21/07
Premium Finance Company Activity
New Premium Finance Company
American Global Finance Corporation
2501 E. Chapman Ave., Fullerton, Orange County
Opened: 2/22/07
CAC Acceptance Corporation
4100 Easton Drive, Bakersfield, Kern County
Opened: 2/14/07
Capital Credit Group CA, Inc.
5480 Baltimore Drive, La Mesa, San Diego County
Filed: 2/6/07
Approved: 2/16/07
Evergreen Premium Finance Corp.
2501 E. Chapman Avenue, Fullerton, Orange County
Filed: 2/27/07
Farwest Premium Finance Co., Inc.
5480 Baltimore Drive, La Mesa, San Diego County
Approved: 2/13/07
Fulcrum Capital Strategies, Inc.
202 North Canon Drive, Beverly Hills, Los Angeles County
Filed: 2/27/07
Mid Continent Premium Finance, Inc.
6046 Cornerstone Court West, City and County of San Diego
Opened: 2/5/07
Omega Premium Finance, Inc.
2501 E. Chapman Avenue, Fullerton, Orange County
Approved: 1/31/07
5 Monthly Bulletin February 2007
New Premium Finance Company (Continued)
Silverton Insurance Financial, Inc.
5480 Baltimore Drive, Suite 205, La Mesa, San Diego County
Approved: 2/6/07
USAPFA, Inc.
21820 Burbank Boulevard, Woodland Hills, Los Angeles County
Filed: 2/27/07
Trust Company Activity
New Trust Company
San Pasqual Fiduciary Trust Company
624 South Grand Avenue, City and County of Los Angeles
Approved: 2/2/07
Foreign (Other Nation) Bank Activity
New Office
ABN AMRO Bank, N.V.
620 Newport Center Drive, Newport Beach, Orange County (Representative Office)
Filed: 1/19/07
Macquarie Bank Limited
One Market Street, City and County of San Francisco (Representative Office)
Opened: 2/1/07
Foreign (Other State) Bank Activity
New Facility
Enterprise Bank & Trust (Facility – Insured Bank)
9431 Haven Avenue, Rancho Cucamonga, San Bernardino County
Notified: 2/20/07
First International Bank (Facility – Insured Bank)
17595 Almahurst Street, City of Industry, Los Angeles County
Opened: 2/5/07
Credit Union Activity
Field of Membership
Three credit unions received approvals to add four new fields of membership during January 2007.
6 Monthly Bulletin February 2007
Bylaw Amendment
Four credit union received approval for four bylaw amendments during January 2007.
Merger
Pacific Bay Credit Union, Oakland, to merge with and into Oakland Municipal Employees Credit
Union, Oakland
Effected: 1/29/07
Santa Fe First Federal Credit Union, Fresno, to merge with and into Valley First Credit Union
Filed: 1/31/07
Transmitter of Money Abroad Activity
New Transmitter of Money Abroad
Nexxo Financial Corporation
Opened: 2/1/07
Viamericas Corporation
Filed: 1/29/07
MICHAEL A. KELLEY
Commissioner of Financial Institutions
Bulletin for Month ended
February 2007, issued pursuant
to Financial Code section 258
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