DFI Monthly Bulletin – July 2012

Monthly Bulletin

Volume 16, Issue 01 – July 2012

Commissioner Barnes Receives 2012 Transformative Leadership Award

On July 23, 2012 it was announced that Commissioner Teveia Barnes of the California Department of Financial Institutions was selected as a West Coast leader for the legal industry’s most prestigious awards program. The winners will be recognized during a gala dinner on Thursday, September 6, 2012 at the San Francisco Marriott Marquis.

The Transformative Leadership Awards West program honors general counsel and law firm partners, located on the West Coast, who have demonstrated a commitment to advancing the empowerment of women in corporate law. The awards are presented in seven categories, not only recognizing career achievements, but also the individual’s commitment to leadership, courage, advancement and empowerment of women.  Commissioner Barnes received the Debra L. Zumwalt Pioneer Award.  This award is presented to a woman who has transformed being the “first” into being a catalyst for change. She indelibly raises the bar for attorneys and corporations by consistently demonstrating her dynamic expertise, core values and ideals that drive unprecedented collaboration, innovation and achievement to deliver sustainable results. Her strong sense of purpose transcends the legal profession, as she is devoted to both professional and civic leadership, policy reform and the economic advancement of others to achieve success.  Debra Zumwalt is the general counsel at Stanford University.

The Transformative Leadership Awards Annual and West Coast program are presented by InsideCounsel magazine, the leading monthly business publication for general counsel and in-house legal executives, published by Summit Business Media. For more information about the awards program and winners, visit http://www.tlawest.com/2012-award-winners/.

Executive Officer and Director Compensation Survey Now In Progress

On July 19, 2012, DFI bank licensees received an email to their designated email address with a unique link to a secure web site where they will complete the survey online. National banks and federal savings banks that responded to an invitation to participate also received an email.

Participants were asked to respond by Wednesday, August 15, 2012 so the results can be compiled into a summary report that will be e-mailed to participating banks later this year.  It is not too late to participate.  A reminder will be going out to the designated email addresses shortly.  Recipients are asked to please forward the link to the HR manager or other person who will be completing the survey

If you did not receive the email or if you have any questions about the survey, please contact Patrick Carroll at (415) 263-8559 or by e-mail at Patrick.Carroll@dfi.ca.gov.

The survey results for the 34th Annual Executive Officer and Director Compensation Survey as of June 30, 2011 are now available at www.dfi.ca.gov/publications/executive_summaries/default.html.

Participants in the 2012 survey will receive a PDF of the completed survey results by email upon completion.

Unclaimed Property Division update

Notice to Holders, Updated Handbook and Summer Newsletter

The following information was received from the State Controller’s Office, Division of Unclaimed Property:

If you have any reporting questions, please contact the Unclaimed Property Reporting Unit at (916) 464-6284 or ucpreporting@sco.ca.gov.

Commercial Bank Activity

Acquisition of Control

First PacTrust Bancorp, Inc. to acquire control of Beach Business Bank
Effected: 7/1/12

Purchase of Partial Business Unit

Opus Bank, Irvine, to acquire ten branch offices of Pacific Western Bank, Los Angeles
Filed: 7/10/12


American Perspective Bank, San Luis Obispo, to merge with and into Pacific Western Bank, Los Angeles
Filed: 6/28/12
Approved: 7/6/12

Desert Commercial Bank, Palm Desert, to merge with and into First Foundation Bank, Irvine
Filed: 6/29/12
Approved: 7/25/12

Security Business Bank of San Diego, San Diego, California, to merge with and into AmericanWest Bank, Spokane, Washington
Effected: 7/2/12

Premium Finance Company Activity

New Premium Finance Company

CPF Columbia Pacific Finance
5716 Corsa Avenue, Westlake Village, Thousand Oaks County
Approved: 7/11/12

Insurance Finance Corporation of CA
515 S. Flower Street, Los Angeles, Los Angeles County
Opened: 6/7/12

Southern Star Premium Finance, Inc.
17601 S. Denver Avenue, Gardena, Los Angeles County
Approved: 7/17/12

Foreign (Other State) Bank Activity

Discontinuance of Facility

American Enterprise Bank
8775 Sierra College Boulevard, #100, Granite Bay, Placer County
Notified:  7/20/12
Discontinued: 3/19/10

120 Railroad Avenue, Richmond, Contra Costa County
Notified: 7/30/12
Discontinued: 9/30/11

Capmark Bank
4675 MacArthur Court, Newport Beach, Orange County
Notified: 7/19/12
Discontinued: 4/30/12

Community South Bank
43513 Ridge Park Drive, Temecula, Riverside County
Notified: 7/23/12
Discontinued: 11/7/08

Southwest Capital Bank (fka Bank of Las Vegas)
19772 MacArthur Boulevard, #100 Irvine, Orange County
Notified: 7/30/11
Discontinued:  12/31/11

Texas Capital Bank, N.A.
14895 E. 14th Street, San Leandro, Alameda County
Notified: 7/20/12
Discontinued: 7/31/06

Credit Union Activity


Bay Media Federal Credit Union, San Francisco, to merge with and into SF Fire Credit Union, San Francisco
Filed: 6/1/12
Approved: 6/21/12

Family 1 Federal Credit Union, Placentia, to merge with and into Credit Union of Southern California, Brea
Approved: 5/11/12
Effected: 7/2/12

Inland Empire Credit Union, Pomona, to merge with and into Credit Union of Southern California, Brea
Approved: 6/16/11
Effected: 7/2/12

San Jose Credit Union, San Jose, to merge with and into National 1st Credit Union, Santa Clara
Filed: 7/2/12

Santa Monica City Employees Federal Credit Union, Santa Monica, to merge with and into Southland Credit Union, Las Alamitos
Approved: 7/26/12

Bylaw Amendment

One credit union received approval for one bylaw amendment during June 2012.


One credit union received approval for request for variance to sections of the California Code of Regulations during June 2012.

Money Transmitter Activity

New Money Transmitter

Beamit, Inc.
Filed: 7/12/12

Facebook Payments Inc.
Opened: 7/3/12

FIRMA Foreign Exchange Corporation (U.S.) Ltd.
Filed: 6/26/12

Commissioner of Financial Institutions

Bulletin for Month ended
August 2012, issued pursuant
to Financial Code section 376