DFI Monthly Bulletin – May 2010

June 08, 2010

Monthly Bulletin

Volume 13, Issue 11 – May 2010

Retirement of Chief Examiner Craig Carlson

Chief Examiner Craig Carlson will retire effective June 14, 2010 as Chief Examiner of the Department of Financial Institutions (DFI) after a distinguished career spanning more than 36 years with DFI.

Mr. Carlson joined the California State Banking Department (now the California Department of Financial Institutions) as a Junior Bank Examiner in the Los Angeles Office in 1974. He became Assistant Deputy Commissioner of the San Diego Office in 1986, and in 2001 he was appointed Deputy Commissioner of the San Diego/Orange County Regio n.  In 2004, he assumed a newly-defined role as Senior Deputy Commissioner.  In addition to serving as Deputy Commissioner, Division of Examinations for the San Diego/Orange County Region, as Senior Deputy Commissioner he also spearheaded DFI’s strategic planning and performance review initiatives.  Mr. Carlson was appointed Chief Examiner in 2007.

In recognition of his many years of dedicated service, Mr. Carlson received the DFI Commissioner’s Award and the Senior Fellow Award from the Conference of State Bank Supervisors in 2010. 

Leadership Changes in the Banking Program

As a result of the retirement of Chief Examiner Craig Carlson on June 14 and the retirement of banking program deputy Douglas Kirkpatrick last year, DFI conducted a testing and selection process for their successors.  In addition, the responsibilities of the banking program deputies were reorganized as a first step resulting from the Commissioner’s ongoing review of DFI’s organizational structure.

The Commissioner is pleased to announce the following changes:

  • Northern California Deputy Commissioner Scott Cameron will become Chief Examiner effective upon Mr. Carlson’s retirement date.
  • Current Los Angeles Deputy Commissioner John Ross will assume responsibility for all foreign and ethnic owned/oriented banks and foreign banking organizations statewide as well as trust companies. Foreign/ethnic entities have a significant and growing presence in California as a result of the many strong ethnic communities here and the growth of trade with Asia.  Mr. Ross’ expertise in this area will enable DFI to be more visible and proactive in our relationships and regulatory responsibilities to this important sector.
  • Assistant Chief Examiner Catherine Nahnsen-Robison will become Southern California Deputy with responsibility for all SoCal banks not in the foreign/ethnic category.
  • The Department will now begin the process for interviewing and selecting replacements for a Northern California Deputy with similar responsibilities to Ms. Nahnsen-Robison’s and for a new Assistant Chief Examiner.

These moves will necessitate other personnel realignment changes at the Assistant Deputy Commissioner level as well as at the examiner level.  Mr. Cameron and the other Deputies have begun work on a transition plan and a realignment of roles and responsibilities that will balance workloads and provide the smoothest transition possible.  Craig Carlson, working as a retired annuitant, will assist in this planning. Further changes will be announced as their work is completed. 

Liquidation of 1st Pacific Bank of California

On May 7, 2010, the Commissioner of Financial Institutions took possession of 1st Pacific Bank of California and ordered that it be Liquidated.  The Commissioner then appointed the Federal Deposit Insurance Corporation (the “FDIC”) as receiver, and the FDIC accepted the appointment.

Transmitter of Money Abroad Voluntarily Suspends Operations

Banif Acores, Inc. (“Banif”) has voluntarily suspended operations effective May 10, 2010. The suspension of operations was authorized by the Department of Financial Institutions on May 20, 2010.  Consumers may contact Ermelinda N. Albergaria, Chief Financial Officer and Compliance Officer, Banif Acores, Inc. at 2 B North 33rd Street, San Jose, CA 95116-1211, by phone at (408) 251-8081 or by Fax at (408) 251-8083.  Consumers who wish to file a claim should call the DFI Consumer Information Desk’s toll free number, 1-800-622-0620. Consumer complaint forms in English and Spanish are available at https://dfpi.ca.gov/forms.

Annual Fee Reminder

Invoices for 2010-11 Fiscal Year due July 1, 2010

The following institution types are reminded that annual fees are due in this office on or before July 1, 2010.

DFI will calculate annual fees from its database and mail invoices based on that calculation to fee payers.

Representative offices of foreign (other nation) banks

The annual representative license fee for fiscal year 2010-11 is due on or before July 1, 2010. The fee, as outlined in Section 1702(i) of the California Financial Code, is $250.00 for each California representative office of a foreign (other nation) bank doing business as of June 1, 2010.

Invoices were mailed June 1 and must be paid on or before July 1. Fee payers that do not concur with the calculated amounts have until Tuesday, June 15 to request recalculation or adjustment of the amount. DFI will not entertain any requests received after that date. Those foreign (other nation) banks which also maintain agency or branch offices in California are not subject to this fee. For questions about fees, call (415) 263-8552 or e-mail Annie Constantino at rconstantino@dfi.ca.gov.  

Business and Industrial Development Corporation (BIDCO)

The annual license fee for fiscal year 2010-11 is due on or before July 1, 2010. The fee, as outlined in Section 31115(a)(6), is $2,000.00 for each BIDCO doing business as of June 1, 2010. Invoices were mailed June 1 and must be paid on or before July 1. For questions about fees, call (415) 263-8552 or email Annie Constantino at rconstantino@dfi.ca.gov.

Commercial Bank Activity

Acquisition of Control

Rex E. Schlaybaugh, Jr., to acquire control of San Diego Private Bank
Approved: 5/11/10


Napa Community Bank, Napa, to merge with and into Rabobank, National Association, El Centro
Effected: 4/30/10

Bank of Willits, Willits, to merge with and into Savings Bank of Mendocino County, Ukiah
Filed: 5/24/10
Approved: 5/26/10

Industrial Bank Activity

Purchase of Partial Business Unit

Finance and Thrift Company, Porterville, to acquire certain assets and assume certain liabilities from the Bakersfield branch office of Balboa Thrift and Loan Association, Chula Vista
Withdrawn: 11/12/09

Premium Finance Company Activity

New Premium Finance Company

GBC Premium Finance, Inc.
110 E. 9th Street, City and County of Los Angeles
Filed: 5/25/10

Global Premium Finance West, Inc.
500 East E Street, Ontario, San Bernardino County (address changed from 818 West Seventh Street, City and County of Los Angeles)
Opened: 5/4/10

Western Premium Finance, Inc.
6320 Canoga Avenue, Woodland Hills, Los Angeles County
Opened: 5/6/10

Acquisition of Control

Estate of Carl Seaman / Linda Seaman, to acquire control of E.T.I. Financial Corporation
Withdrawn: 4/20/10

Credit Union Activity

Field of Membership

Four credit unions received approval to add five new fields of membership during April 2010.

Bylaw Amendment

Three credit unions received approval for three bylaw amendments during April 2010.

Foreign (Other Nation) Bank Activity


Banco Agricola S.A.

  • 133 South Vermont Avenue, City and County of Los Angeles (Nondepositary Agency)
  • 2625 East Florence Avenue, Huntington Park, Los Angeles County (Nondepositary Agency)
  • 2500 Mission Street, City and County of San Francisco (Nondepositary Agency)

Approved: 5/25/10

Voluntary Surrender of License

Hongkong and Shanghai Banking Corporation Limited
39410 Fremont Boulevard, Fremont, Alameda County (Representative Office)
Notified: 5/18/10

Foreign (Other State) Bank Activity

New Facility

Bank2 (Facility – Insured Bank)
120 Railroad Avenue, Richmond, Contra Costa
Opened: 10/15/08

Capmark Bank (Facility – Industrial Bank)
4675 MacArthur Court, Newport Beach, Orange County (address corrected from 5 Park Plaza, Irvine)
Opened: 5/1/10

Great Western Bank (Facility – Insured Bank)
3244 Brookside Road, Stockton, San Joaquin County (formerly located at 1990 N. California Boulevard, Walnut Creek, Contra Costa County)
Opened: 2/3/09

Transmitter of Money Abroad Activity

Voluntary Surrender

Del Agro Corporation USA
Effected: 5/31/10

Change of Name

BDO Remittance (USA), Inc., to change its name to BDO Remit (USA), Inc.
Effected: 5/6/10


Commissioner of Financial Institutions

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

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