February 09, 2010

Monthly Bulletin

Volume 13, Issue 7 – January 2010

Officer Changes to be Reported to DFI Activity

DFI licensees are reminded that Financial Code section 287 requires them to notify the commissioner of any change in the following officers, to the extent that those officers exist within the licensee:

  • Chairperson
  • Chief executive officer
  • President
  • General manager
  • Managing officer
  • Chief financial officer
  • Chief credit officer

Notifications may be sent by email to licensing@dfi.ca.gov.

Liquidation of First Regional Bank Activity

On Friday, January 29, 2010, the Commissioner of Financial Institutions took possession of First Regional Bank and ordered that it be liquidated.  The Commissioner then appointed the Federal Deposit Insurance Corporation (FDIC) as Receiver, and the FDIC accepted the appointment.

Liquidation of Kern Central Credit Union Activity

On January 8, 2010, the Commissioner of Financial Institutions took possession of Kern Central Credit Union and ordered that it be liquidated. The Commissioner then appointed the National Credit Union Administration (NCUA) as Liquidating Agent, and the NCUA accepted the appointment.

Commercial Bank Activity

New Bank

El Camino Bank
20946 Devonshire Street, Chatsworth, Los Angeles County
Correspondent: James H. Avery
The Avery Company LLC
P.O. Box 3009
San Luis Obispo, CA  93403
(805) 544-5477
Withdrawn: 1/21/10

Acquisition of Control

Holder Enterprises, LLC, to acquire control of Mother Lode Bank
Approved: 1/28/10

Jeffrey T. Seabold, to acquire control of Premier Business Bank
Filed: 1/11/10

Steven A. Sugarman, to acquire control of Premier Business Bank
Filed: 1/11/10


Bank of Escondido, Escondido, Sunrise Bank of San Diego, San Diego, and Sunrise Community Bank, Palm Desert, to merge with and into Point Loma Community Bank, San Diego, with the resulting institution being called Sunrise Bank
Filed: 1/5/10
Approved: 1/12/10

Purchase of Partial Business Unit

Bank of the West, San Francisco, California, to acquire the Monterey and Santa Cruz Branches of Wachovia Bank, N.A., Charlotte, North Carolina, and Wachovia Bank of Delaware, N.A., Wilmington, Delaware
Approved: 1/5/10
Effected: 1/15/10

Change of Name

American Principle Bank, to change its name to American Perspective Bank
Notified: 10/27/09

Citibank (Banamex USA), to change its name to Banamex USA
Effected: 12/15/09

Industrial Bank Activity

Acquisition of Control

First American Financial Corporation, to acquire control of First Security Business Bank
Filed: 1/27/10

Premium Finance Company Activity

New Premium Finance Company

Citrus Premium Finance, Inc.
500 East E Street, Ontario, San Bernardino County
Approved: 1/14/10

Green Premium Finance Corporation
15455 San Fernando Mission Boulevard, Mission Hills, Los Angeles County
Filed: 1/16/10
Approved: 1/28/10

Peninsula Life Solutions, Inc.
2730 Gateway Oaks Drive, City and County of Sacramento
Approved: 1/27/10

Sundance Premium Finance Company
6943 Wildrose Terrace, City and County of San Diego
Approved: 1/21/10

Credit Union Activity

Bylaw Amendment

One credit union received approval for one bylaw amendment during December 2009.

Field of Membership

Two credit unions received approval to add eight new fields of membership during December 2009.

Foreign (Other State) Bank Activity

New Facility

Goldman Sachs Bank USA (Facility – Insured Bank)
555 California Street, City and County of San Francisco
Opened: 1/1/10

Meadows Bank (Facility – Insured Bank)
7485 Rush River Drive, Sacramento, Sacramento County
Notified: 1/12/10

Transmitter of Money Abroad Activity

New Transmitter

GPS Capital Markets, Inc.
Filed: 1/4/10

Acquisition of Control

Money Transfer Acquisition, Inc., to acquire control of Dolex Dollar Express, Inc.
Filed: 1/5/10

Voluntary Surrender of License

Banagricola de El Salvador, Inc.
Effected: 12/31/09

Envios R.D. Corp.
Effected: 1/14/10

Payment Instrument Activity

New Payment Instrument

GPS Capital Markets, Inc.
Filed: 1/4/10

Commissioner of Financial Institutions

Bulletin for Month ended
January 2010, issued pursuant
to Financial Code section 258

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