Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

District: 12
Federal Reserve Bank of: San Francisco

Filings received during the week ending May 26, 2007

Filer Filing Type Filing Proposal End of Comment Period
1st Century Bancshares, Inc. 3A1 1st Century Bancshares, Inc., to become a bank holding company by acquiring 100 percent of 1st Century Bank, both of Los Angeles, California.
Newspaper: Not applicable
Federal Register: Not applicable
AMERICAN HERITAGE HOLDINGS * 3A1 American Heritage Holdings to become a bank holding company by acquiring 100 percent of Borrego Springs Bank, N.A., both of La Mesa, California.
Newspaper: 05/14/2007
Federal Register: 06/08/2007
First Community Holdings * 3A1 First Community Holdings to become a bank holding company by acquiring 100 percent of First Community Bank, both of Santa Rosa, California.
Newspaper: Not available
Federal Register: 06/25/2007
FRANKLIN RESOURCES, INC. * 3A3 Franklin Resources, Inc., San Mateo, California, to retain 16 percent of The BANKshares, Inc., Melbourne, Florida, and thereby indirectly retain control of its subsidiaries, The Bank Brevard, Melbourne, Florida, and BankFIRST, Winter Park, Florida.
Newspaper: Waived
Federal Register: 06/18/2007
INNOVATIVE BANCORP CIC Notice by Sung Sang Cho, Monrovia, California, to retain 10.33 percent of Innovative Bancorp, and thereby indirectly control its subsidiary, Innovative Bank, both of Oakland, California.
Newspaper: Not available
Federal Register: Not available
PACIFIC STATE BANK * Branch Pacific State Bank, Stockton, California, to establish a branch facility at 1253 A Street, Hayward, California.
Newspaper: 05/17/2007
Federal Register: Not applicable


Availability of CRA Public Evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding
S = Satisfactory
NI = Needs to improve
SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.
 
Institution / Location
RSSD
ID
 
Exam Date
CRA
Public Date
CRA
Rating
Exam Method
NONE


CRA Examinations scheduled for Third Quarter of 2007 (July 1, 2007 - September 30, 2007)

Institution Location
PACIFIC MERCANTILE BK COSTA MESA, CALIFORNIA
SAN JOAQUIN BK BAKERSFIELD, CALIFORNIA
SILICON VALLEY BK SANTA CLARA, CALIFORNIA

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco