DFI Monthly Bulletin – October 2007

Oct 1, 2007

Volume 11, Number 4

Southern California Fires Update

Due to the fire emergency in Southern California, Interim Commissioner of Financial Institutions Carol
D. Chesbrough, authorized banks located in the counties of Los Angeles, Orange, Riverside, San
Bernardino, San Diego, Santa Barbara and Ventura declared to be in a state of emergency due to the fire
emergency to close any or all of their offices on October 22, 2007 pursuant to California Financial Code
Section 3600, the “Bank Extraordinary Situation Closing Act”. The order authorizing banks to close
was lifted on October 29, 2007.
During that time, the Department of Financial Institutions (DFI) requested and received information
from its licensees about branch offices that closed due to the fire emergency. The Department would
like to thank and acknowledge its licensees that responded to this emergency request.

DFI recognizes the serious impact the Southern California fires have had and will continue to have on
financial institutions and the communities they serve. We encourage our licensees to work with
customers who have been affected by the fires and we acknowledge the actions of licensees that are
assisting in the recovery effort. Pacific Western Bank, San Diego has HUannouncedUH that it is donating $1
million to the Pacific Western Fund at the HUSan Diego FoundationUH. The donation will be used initially to
help fund recovery efforts stemming from the October 2007 wildfires and on an ongoing basis for
projects in the region geared toward improving the local communities. Of the donation, $100,000 has
been designated to benefit families of firefighters and policemen. The donation is the largest in the
history of Pacific Western and its parent, First Community Bancorp.
The Department of Consumer Affairs, in partnership with the Governor’s Office and the State and
Consumer Services Agency has developed a Consumer Protection Hotline for the people that have been
impacted by the Southern California Wild Fires. Please inform your customers who were affected by
this tragic event that they can call 1-800-952-5210 or go to HUwww.rebuildyourlife.ca.govUH for consumer
The Federal Deposit Insurance Corporation (FDIC) has issued a HUFinancial Institution LetterUH giving
guidance to banks on supervisory practices regarding depository institutions and borrowers affected by
the fires.
2 Monthly Bulletin October 2007
Information Technology Systems Survey
The California Department of Financial Institutions (DFI) will be reinstituting its Information
Technology (IT) examination process in 2008 for our commercial bank, industrial bank, foreign bank,
and trust company licensees. To enable DFI to gain a better understanding of the IT activities within
your financial institution, an IT Systems Survey is being sent out in November 2007. It is very
important that you take the necessary time and effort to ensure this Survey is accurately completed and
submitted in a timely manner to the DFI. This will enable the DFI to appropriately allocate on-site
examination hours for your financial institution. Should you have any questions regarding the Survey,
please contact Robert J. Lipot, IT- Senior Financial Institution Examiner, in our Los Angeles office at
(213) 897-2978 or by email at HUrlipot@dfi.ca.govUH.
SCO to Resume Receiving Unclaimed Property
On Thursday, October 18, 2007 the United States District Court lifted the injunction on the State
Controllers Office (SCO) that had since June 1 enjoined the SCO from receiving, selling or otherwise
disposing of unclaimed property until the SCO issued rules providing that unclaimed property holders
receive “fair notice”. Subsequently, the SCO added language to a state budget bill, HUSB 86UH that required
the SCO to notify unclaimed property holders by mail that the SCO was holding their property.
Governor Schwarzenegger signed SB 86 into law on August 24, 2007. For more information, visit the
State Controller’s Office HUWeb siteUH or email the SCO at HUucpreporting@sco.ca.govUH.
DFI Attends the Interagency Consumer Complaint
DFI staff attended the 2007 Interagency Consumer Complaint Conference sponsored by the Office of
the Comptroller of the Currency (OCC) in Houston, Texas on October 15-17. The theme of the
conference was “building partnerships and improving technology to improve and enhance the consumer
experience”. This theme was echoed by John Ryan of the Conference of State Bank Supervisors, who
reported on their efforts to identify best practices for handling consumer complaints.
Comptroller of the Currency John Dugan spoke on the need for state and federal bank regulators to take
an integrated approach to consumer complaint resolution. He acknowledged that the structure of the
banking regulatory system can be intimidating for consumers who need to file a complaint against their
financial institution, which makes it incumbent upon regulators to coordinate their consumer assistance
efforts. In addition to providing an enhanced consumer experience, improving the interface will result
in better information gathering from the complaint process that can be leveraged to provide guidance to
financial institutions and to substantiate enforcement actions. Proposed solutions included a gateway
website, interagency-sponsored call routing system and common complaint referral system.
Representatives of the consumer affairs sections of all the federal bank regulatory agencies and 13 state
banking departments were present.
The Federal Reserve Bank will host the next conference, which is scheduled to take place in Kansas
City, Missouri on April 16 -19, 2009.
3 Monthly Bulletin October 2007
Commercial Bank Activity
UNew Bank
Access Business Bank
7700 Irvine Center Drive, Irvine, Orange County
Correspondent: Tom S. Byington
30200 Rancho Viejo Road, Suite C
San Juan Capistrano, CA 92675
(949) 777-5577 ext. 121
Address changed: on 1/23/07 from vicinity of 184 Technology Drive, Irvine, Orange County
Withdrawn: 10/12/07
American Cedars Bank
500 North Central Avenue, Glendale, Los Angeles County
Correspondent: David E. Abshier
550 South Hope Street, Suite 2150
Los Angeles, CA 90071
(213) 243-3700
Filed: 9/28/07
American Principle Bank
4051 Broad Street, City and County of San Luis Obispo
805-547-2801 (fax)
Officers: David Booker, President and Chief Executive Officer
Mark Andino, Chief Financial Officer and Chief Operating Officer
William Filippin, Chief Credit Officer
Capitalization: $42,242,850
Website: HUhttp://www.americanprinciplebank.comUH
Opened: 10/15/07
Community Valley Bank
1489 W. State Street, El Centro, Imperial County
(760) 352-1889
(760) 352-2889 (fax)
Officers: Robert Hahn, President and Chief Executive Officer
Charles Tarquini, Executive Vice President and Chief Credit Officer
James Bilotta, Executive Vice President and Chief Financial Officer
Capitalization: $13,341,980.00
Website: HUhttp://www.YourCVB.comU
Opened: 10/1/07
4 Monthly Bulletin October 2007
UNew Bank (Continued)
Lighthouse Bank
111 Mission Street, City and County of Santa Cruz
(831) 600-4000
(831) 427-2260 (fax)
Officers: Richard G. Hoefstetter, President and Chief Executive Officer
Donald H. Somans, Chief Financial Officer
Lane S. Lawson, Chief Credit Officer
Capitalization: $18,530,280.00
Website: HUhttp://www.lighthousebank.netUH
Opened: 10/29/07
Santa Ana Business Bank
1666 N. Main Street, Santa Ana, Orange County
(714) 415-1700
(714) 415-1799 (fax)
Officers: Larry Frampton, President and Chief Executive Officer
Lynn Jarmon, Chief Financial Officer
Herbert E. Slezinger, Chief Credit Officer
Capitalization: $12,375,730.00
Website: HUhttp://www.santaanabb.com/UH
Opened: 10/9/07
Business First National Bank, Santa Barbara, to merge with and into Heritage Oaks Bank, Paso Robles
Effected: 10/12/07
Acquisition of Control
Security Business Bancorp, to acquire control of Security Business Bank
Filed: 9/26/07
Security Pacific Bancorp, Inc. to acquire control of Pacific Premier Bancorp, Inc. / Pacific Premier Bank
Filed: 9/14/07
Industrial Bank Activity
Conversion to State Charter
Tustin Community Bank, Tustin, to convert to a state-chartered commercial bank
Effected: 7/26/07
5 Monthly Bulletin October 2007
Premium Finance Company Activity
New Premium Finance Company
1st Choice Premium Financing, Inc.
6715 N. Palm Avenue, City and County of Fresno
Filed: 10/9/07
DG Holdings, Inc.
16438 Vanowen Street, Van Nuys, Los Angeles County
Opened: 10/22/07
Foreign (Other Nation) Bank Activity
New Office
eBANK Corporation
City and County of San Francisco (Representative Office)
Approved: 10/18/07
Credit Union Activity
Field of Membership
One credit union received approvals to add two new fields of membership during September 2007.
Great American Credit Union, San Diego, to merge with into Wescom Central Credit Union, Pasadena
Approved: 10/2/07
6 Monthly Bulletin October 2007
Transmitter of Money Abroad Activity
Voluntary Surrender of License
Euronet Payments and Remittance, Inc.
Effected: 6/5/07
Interim Commissioner of Financial Institutions
Bulletin for Month ended
October 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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