Department of Financial Institutions http://www.dfi.ca.gov Monthly Bulletin Volume 5, Number 12 June, 2002

DFI Endorses FDIC Goals to Make Financial Literacy a National Priority

Commissioner of Financial Institutions Donald R. Meyer endorses the recently announced Federal Deposit Insurance Corporation (FDIC) agency goal of establishing 1,000 partnerships with organizations and institutions in all 50 states to promote financial literacy by distributing 100,000 copies of its Money Smart financial education curriculum and reaching 1 million consumers during the next five years.

"Currently, millions of Americans do not have a banking relationship with any traditional financial institution. These 'unbanked' - estimated at anywhere from 10 to 13 percent of U.S. households - are primarily low to moderate income, minorities, and/or recent immigrants," FDIC Chairman Don Powell said. "There is also a deep divide along educational lines."

Some of the features that have made Money Smart popular are:

• Money Smart was designed by educational experts;
  
  
• It is easy to teach and easy to learn;
  
  
• It is targeted to low- and moderate-income adults;
  
  
• It was designed to be flexible; it can be taught in its entirety, or specific modules can be used to fill in the gaps in other financial education programs;
  
  
• It carries the FDIC seal;
  
  
• It is not copyrighted, thus encouraging reproduction and wide dissemination;
  
  
• It is designed to move adults into healthy banking relationships;
  
  
• Banks can receive Community Reinvestment Act (CRA) credit for their involvement in offering Money Smart in their communities;
  

• It is currently available in English and Spanish; Korean and Chinese versions are now being tested; and
  
  
• It is free to users.
  

DFI licensees are encouraged to obtain more information about this initiative by visiting the FDIC’s Web site at http://www.fdic.gov/news/news/press/2002/pr6602.html.

We have been evaluating licensees’ total assets and the estimated cost of administering the Department to determine the assessment rates for the coming fiscal year. However, the rates cannot be set until the State Budget has passed the Legislature and been signed by the Governor.

Assessment invoices will be sent out as soon as that occurs and will be due thirty days from that date. For more information, please contact Patrick Carroll at (415) 263-8559 or by e-mail at pcarroll@dfi.ca.gov.

We have received a number of questions from licensees about how to comply with the request that was published in the May 2002 issue of the Monthly Bulletin for board resolutions pertaining to personnel policies and business resumption plans in light of the September 11 event. To assist our licensees in complying with the directive, we have compiled some of the questions and our responses in the following table:

For more information, please contact Peter Van Hoecke, at (916) 322-1571.

Capitol Valley Bank, Roseville, with and into Humboldt Bank, Eureka
Effected: 5/31/02

Chinatrust Savings Bank of Washington (In Organization), Bellevue, with and into Chinatrust Bank (U.S.A.), Torrance
Filed: 6/11/02

First Western Bank, Simi Valley, with and into Union Bank of California, N. A., San Francisco
Effected: 5/13/02

Kerman State Bank, Kerman, with and into Westamerica Bank, San Rafael
Approved: 6/5/02
Effected: 6/20/02

Palomar Community Bank, Escondido, with and into Redlands Centennial Bank, Redlands.
Effected: 5/24/02

Tehama Bank, Red Bluff, with and into Humboldt Bank, Eureka
Effected: 5/31/02

Imperial Capital Bank, La Jolla
Approved: 6/11/02

Bank of Agriculture & Commerce, Stockton, to acquire the Concord and Antioch Branches of City National Bank, Beverly Hills
Effected: 5/31/02

Central California Bank, Sonora, to acquire Sonora Main, Junction, Twain Harte and Columbia Branches and Arnold place of business of Western Sierra National Bank, Cameron Park
Filed: 6/5/02

First Bank & Trust, San Francisco, to acquire the Denton and Garland Branches of Jefferson Heritage Bank, Denton, Texas, and Union Planters Bank N.A., Memphis, Tennessee
Approved: 6/14/02
Effected: 6/22/02
(Jefferson Heritage Bank, Denton, Texas, merged with and into Union Planters Bank N.A., Memphis, Tennessee, immediately prior to the transaction.)

Gateway Business Bank, Lakewood, to acquire the Laguna Hills Branch of eosbank, San Mateo
Filed: 6/12/02

Fremont Investment and Loan, Anaheim, to sell the Glendale Branch to Jackson Federal Bank, Fullerton
Filed: 5/31/02
Approved: 6/14/02
Effected: 6/21/02

Blackhorse Premium Finance Corp
2501 East Chapman Avenue, Suite 100, Fullerton, Orange County
Approved: 6/12/02

Banca di Roma, to sell the San Francisco depositary agency to Minghetti Finanziaria S.p.A.(which will change its name to Banca di Roma S.p.A. effective July 1, 2002)
Filed: 6/11/02
Approved: 6/26/02

Minghetti Finanziaria S.p.A. (which will change its name to Banca di Roma S.p.A. effective July 1, 2002)
One Market Street, Stewart Tower, Suite 1000, San Francisco, San Francisco County (Depositary Agency)
Filed: 6/11/02
Approved: 6/26/02

BNP Paribas
725 South Figueroa Street, Los Angeles, Los Angeles County (Representative Office)
Filed: 5/9/02
Approved: 6/13/02
Opened: 6/28/02

BNP Paribas
725 South Figueroa Street, Los Angeles, Los Angeles County (Wholesale Branch)
Filed: 5/9/02
Approved: 6/13/02
Discontinued: 6/13/02

Sunrise Bank of Arizona
4570 Executive Drive, San Diego, San Diego County
Notified: 6/6/02
Discontinued: 6/30/02

Merger

Electrical Workers Local #180 Federal Credit Union, Napa, into 1^st Pacific Credit Union, Vallejo
Effected: 5/30/02

Field of Membership

Twenty one credit unions received approvals to add 48 new fields of membership during May 2002.

Two credit unions received approvals for two bylaw amendments during May 2002.

Girosol Corporation
Opened: 3/6/02

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