DFI Monthly Bulletin – June 2007

Jun 1, 2007

Volume 10, Number 12

Diana Fong Appointed Chief Information Officer

Diana Fong was appointed Chief Information Officer effective June 8. Ms. Fong joined DFI in July
2005 to head the Strategic Support and Policy Unit and has been Acting Chief Information Officer for
the past several months.
2007-08 Assessment Update
Annual assessment invoices are normally mailed to commercial banks, industrial banks and credit union
licensees on June 30 of each year. This year they will be mailed out after June 30.
Licensees will have twenty (20) days from the date of the invoice to make payment. As in past years,
electronic funds transfer may be used to expedite the process. Please contact Patrick Carroll at (415)
263-8559 or by email at HUpcarroll@dfi.ca.govUH with any questions or comments you may have.
Sacramento Office Zip Code to Change
Effective July 1, 2007, the zip code of the Department of Financial Institutions Sacramento office will
be officially changed from 95814-7118 to 95811-7118. There is no change to the street address, which
remains 1810 – 13th Street. Please update your records accordingly. Mail will be delivered to both zip
codes for one year.
Any questions on this matter should be directed to Business Services staff, Denise Moncus at 916-323-
7016 or by email at HUdmoncus@dfi.ca.govUH or Jasmin Buada at 916-327-7428 or by email at
2 Monthly Bulletin June 2007
2007 Executive Officer and Director Compensation
Survey now Underway
Forms for the 30th Annual Executive Officer and Director Compensation Survey as of June 30, 2007 are
in the process of being mailed to the CEOs of all state-chartered banks, industrial banks and national
banks headquartered in California as of that date. Recipients are asked to respond by Friday, August 3,
2007 so the results can be compiled into a summary report that will be e-mailed to participating banks in
the fall. If you do not receive your forms, please contact Patrick Carroll at (415) 263-8559 or by e-mail
at HUpcarroll@dfi.ca.govUH.
The survey results for the 29th Annual Executive Officer and Director Compensation Survey as of June
30, 2005 as well as the forms for the 2007 survey that were recently mailed are now available at
Legal Update
Over the next few years, the Department will be proposing a number of regulation projects of limited
scope. The proposed regulations are intended to formalize various Department interpretations and
pronouncements that affect the day-to-day business of the Department’s licensees. The purpose of
formalizing the interpretations is not to change those policies or to burden the licensees with additional
regulatory requirements. Rather, the move is intended to increase the transparency of the Department’s
operations, thereby making it easier for licensees to conduct their business. For more information
contact Acting General Counsel Kenneth Sayre-Peterson at (916) 322-1570 or by email at HUksayrepeterson@dfi.ca.govUH.
State Controller’s Office Enjoined from Accepting
Unclaimed Property
We have been advised that the United States District Court issued a preliminary injunction prohibiting
the State Controller’s Office from accepting, taking title to, or possession of any property including, but
not limited to securities and contents of safe deposit boxes.
Effective June 1, 2007 and until further notice, the State Controller’s Office is enjoined from accepting
any unclaimed property from businesses and financial institutions required to remit and deliver such
property under the unclaimed property law (Code of Civil Procedure 1500 et seq.). The State
Controller’s Office has instructed all holders of unclaimed property to hold any unclaimed property until
further notice from the State Controller’s Office. This applies to all property including, but not limited
to cash, securities or safe deposit box contents. In addition, holders are not to transfer securities into the
name of the Controller.
Please continue to check the web site HUwww.sco.ca.govUH for further updates. If you have any questions
regarding this notice, please call the State Controller’s Office, Unclaimed Property Reporting Unit at
(916) 323-2845.
3 Monthly Bulletin June 2007
Commercial Bank Activity
UNew Bank
Bank of the Pacific
17785 Center Court Drive, Cerritos, Los Angeles County
Correspondent: Gary Steven Findley
Gary Steven Findley & Associates
1470 North Hundley Street
Anaheim, CA 92806
(714) 630-7136
Filed: 6/14/07
Lighthouse Bank
Vicinity of Mission Street and Chestnut Street, City and County of Santa Cruz
Correspondent: James H. Avery
The Avery Company, LLC
P.O. Box 3009
San Luis Obispo, CA 93403
(805) 544-5477
Approved: 6/7/07
Desert Community Bank, Victorville, to merge with and into East West Bank, Pasadena
Approved: 6/26/07
Diablo Valley Bank, Danville, to merge with and into Heritage Bank of Commerce, San Jose
Effected: 6/20/07
First Coastal Bank, National Association, Manhattan Beach, to merge with and into, Citizens Business
Bank, Ontario
Effected: 6/22/07
Landmark National Bank, Solana Beach, to merge with and into 1st Pacific Bank of California, La Jolla
Approved: 6/11/07
Professional Business Bank, Pasadena, to merge with and into SoCal Interim Bank, Pasadena
Approved: 6/29/07
UAcquisition of Control
Belvedere SoCal, Belvedere Capital Fund II, L.P., and Belvedere Capital Partners II LLC, to acquire
control of Professional Business Bank
Approved: 6/29/07
4 Monthly Bulletin June 2007
UAcquisition of Control (Continued)
First Community Holdings to acquire control of First Community Bank
Filed: 5/24/07
Approved: 6/19/07
UPurchase of Whole Business Unit
First California Bank, Camarillo to purchase the whole business unit of Mercantile National Bank, Los
Approved: 6/14/07
Effected: 6/18/07
First California Bank, Camarillo, to purchase the whole business unit of South Bay Bank, N.A.,
Approved: 6/14/07
Effected: 6/18/07
UChange of Name
Guaranty Bank of California, Los Angeles, to change its name to GBC International Bank
Notified: 6/21/07
It was erroneously reported in the May 2007 issue of the Monthly Bulletin that the acquisition of Pacific
City Bank by Pacific City Financial Corporation was effected on May 3, 2007. The acquisition has not
yet been effected.
Premium Finance Company Activity
UNew Premium Finance Company
Charleston Premium Finance of California, Inc.
540 N. Golden Circle Drive, Santa Ana, Orange County
Approved: 6/19/07
Platinum Premium Finance Corporation
2501 E. Chapman Avenue, Fullerton, Orange County
Opened: 6/12/07
Trafalgar Premium Finance, Inc.
18111 Von Karman Avenue, Irvine, Orange County
Filed: 6/11/07
5 Monthly Bulletin June 2007
Trust Company Activity
UNew Trust Company
San Pasqual Fiduciary Trust Company
624 South Grand Avenue, City and County of Los Angeles
Opened: 6/29/07
Foreign (Other Nation) Bank Activity
UNew Office
The Hongkong and Shanghai Banking Corporation Limited
39410 Fremont Boulevard, Fremont, Alameda County (Representative Office)
Approved: 6/28/07
Foreign (Other State) Bank Activity
UNew Facility
Allegiance Direct Bank, Inc. (Facility – Insured Bank)
2616 Bungalow Place, Corona del Mar, Orange County
Notified: 6/13/07
Mizuho Corporate Bank (USA) (Facility – Insured Bank)
350 South Grand Avenue, City and County of Los Angeles
Opened: 6/11/07
UDiscontinuance of Facility
Franklin Bank, S.S.B.
20350 Ventura Boulevard, Woodland Hills, Los Angeles County
Notified: 5/3/07
Discontinued: 5/31/07
Credit Union Activity
UField of Membership
One credit union received approvals to add one new field of membership during May 2007.
UBylaw Amendment
Two credit unions received approval for six bylaw amendments during May 2007.
6 Monthly Bulletin June 2007
One credit union received approval for request for variance to sections of the California Code of
Regulations during May 2007.
Affinity West Federal Credit Union, Los Angeles, to merge with and into WestWorks Credit Union,
Effected: 8/29/06
Capital Power Credit Union, Sacramento, to merge with and into SAFE Credit Union, North Highlands
Filed: 6/11/07
Approved: 6/18/07
Placer Community Credit Union, Auburn, to merge with and into First U.S. Community Credit Union,
Effected: 6/29/07
It was erroneously reported in the April 2007 Monthly Bulletin that Golden State Federal Credit Union,
Sacramento, merged with and into Sacramento Credit Union, Sacramento on April 1, 2007. The correct
effected date is May 15, 2007.
Transmitter of Money Abroad Activity
UNew Transmitter of Money Abroad
Intermex Wire Transfer Corp.
Filed: 6/4/07
UAcquisition of Control
Servicio UniTeller, to acquire control of Motran Services, Inc.
Approved: 6/12/07
7 Monthly Bulletin June 2007
UVoluntary Surrender of License
Trans-Fast Remittance, Inc.
Effected: 6/5/07
Commissioner of Financial Institutions
Bulletin for Month ended
June 2007, issued pursuant
to Financial Code section 258
The Monthly Bulletin is available without charge via e-mail. To subscribe, go to HUhttp://www.dfi.ca.gov/bulletin/subscription/public.aspUH. To
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