THE STATE BANKING SYSTEM IN 2019 - California

THE STATE BANKING SYSTEM IN 2019

Commercial Banks

On January 1, 2019, there were 116 state-chartered commercial banks. During the year four banks merged out of existence, bringing the total number of state-chartered commercial banks to 112 at year-end.

Mergers

Four state-chartered banks merged with other institutions:

Surviving Bank Banner Bank

Heritage Bank of Commerce Santa Cruz County Bank

United Business Bank

Location Walla Walla, Washington San Jose Santa Cruz

Walnut Creek

Merged Bank AltaPacific Bank

Presidio Bank Lighthouse Bank

Uniti Bank

Location Santa Rosa

San Francisco Santa Cruz

Buena Park

Merged 11/1/19

10/11/19 10/18/19

5/24/19

Three state-chartered banks acquired national banks or other state banks by merger:

Surviving Bank Mechanics Bank Redding Bank of Commerce

United Business Bank

Location Walnut Creek Redding

Walnut Creek

Merged Bank

Rabobank, N.A. The Merchants National Bank of Sacramento First State Bank of Colorado

Location Roseville Sacramento

Greenwood Village, Colorado

Industrial Banks

The number of industrial banks remained unchanged at three during the year.

Merged 8/31/19 1/31/19

10/21/19

Credit Unions

On January 1, 2019, there were 127 state-chartered credit unions. During the year, one statechartered credit union converted to federal charter and three state-chartered credit union merged with other institutions, resulting in 123 state-chartered credit unions at the end of the year. The number of non-California state-chartered credit unions with offices in California remained unchanged at five.

Conversion to Federal Charter

One state-chartered credit union converted to federal charter:

Name I.L.W.U. Credit Union as I.L.W.U. Federal Credit Union

Location Long Beach

Converted 9/20/19

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Mergers

In 2019, three state chartered-credit union merged with other institutions:

Surviving Credit Union California Lithuanian Credit Union First U.S. Community Credit Union

Merced School Employees Federal Credit Union

Location Santa Monica Sacramento Merced

Merged Credit Union

Northern California Latvian Credit Union

McClatchy Employees Credit Union Merced Municipal Employees Credit Union

Location San Francisco

Sacramento Merced

Merged 6/30/19

7/1/19 1/1/19

Three state-chartered credit unions acquired four federal credit unions during the year:

Surviving Credit Union Arrowhead Central Credit Union

Community First Credit Union Credit Union of Southern California

Location

Rancho Cucamonga Ukiah Anaheim

Merged Credit Union Desert Communities Federal Credit Union Hamilton Federal Credit Union Cedars-Sinai Federal Credit Union

FedOne Federal Credit Union

Location Needles

Novato West Hollywood Laguna Niguel

Premium Finance Companies

Merged 4/1/19

1/1/19 5/1/19

6/1/19

On January 1, 2019, there were 99 premium finance companies. During the year, 12 premium finance companies opened and five voluntarily surrendered their licenses bringing the number of premium finance companies to 106 at year-end.

New Premium Finance Companies

Twelve premium finance companies opened for business:

Premium Finance Companies Opened During the Year

Name

Alpine Premium Finance Corporation

Arch Premium Finance, Inc. Biz Premium Finance Corp

C & A Funding, Inc Cal West Premium Finance Funding

Capital Premium of California, Inc. Mepco PFA, Inc. Mojave Financial Corp Pantheon Reserve, Inc Premium Finance Funding, Inc. DBA Premium Finance Funding Principal Premium Financing, Inc. Sparta PFCA, Inc.

Location San Diego Newport Beach Woodland Hills San Diego San Diego Los Angeles Los Angeles Woodland Hills Concord

Newport Beach Moreno Valley O'Fallon, IL

Opened 11/8/19 1/4/19 8/15/19 8/1/19 3/15/19 6/24/19 4/29/19 11/1/19 8/19/19

3/15/19 9/20/19 4/8/19

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Voluntary Surrenders of License Five premium finance companies voluntarily surrendered their licenses:

Premium Finance Companies Closed During the Year

Name KSJT Premium Finance, Inc. Pacific Premium Finance, Inc. PrimePlan Premium Financing Inc. Ripple Premium Finance Co. Stonemark, Inc.

Location Newport Beach Newport Beach Glendale Newport Beach Newport Beach

Closed 9/18/19 9/18/19 1/30/18 9/18/19 10/8/19

Trust Companies and Departments

On January 1, 2019, there were seven trust companies. During the year one trust company voluntarily surrendered its license bringing the number of trust companies to six at year-end. The number of state-chartered bank trust departments remained unchanged at fourteen during the year.

Trust Companies

One trust company voluntarily surrendered its license:

Name Capital Guardian Trust Company

Location Los Angeles

Closed 7/1/19

Foreign (Other Nation) Banks

The number of agencies and branch offices was unchanged at 28 agencies and branch offices representing 25 banks.

Of the total, five were depositary agencies, two were limited branch offices, two were retail branch offices and 19 were wholesale branch offices.

Representative Offices of Foreign Banks

On January 1, 2019, there were 14 foreign banks with representative offices in California. During the year, one new representative office opened and one representative office closed, making 14 representative offices at year-end. The representative offices that opened and closed are shown on the following tables.

One representative office opened:

Representative Offices of Foreign Banks Opened During the Year

Name of Bank Banco Santander, S.A.

Country Spain

Location Palo Alto

Opened 3/1/19

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One representative office closed: Representative Offices of Foreign Banks Closed During the Year

Name of Bank Kasikornbank PCL.

Foreign (Other State) Banks

Country Thailand

Location Los Angeles

Closed 6/14/19

During the year, seven banks opened facilities and four banks closed their facilities, making 47 nonCalifornia state banks with facilities at year-end. Of these, 41 were insured and six were noninsured. The facilities that opened are shown on the following table:

Facilities of Non-California State Banks Opened

Seven non-California state banks opened facilities during the year:

Name of Bank

Facilities of Other State Banks Opened During the Year

State

Location

Insured Banks

Bank of George

Nevada

Apple Valley

CIBC Bank USA

Illinois

San Francisco

First National Bank in Howell

Inland Bank and Trust Manufacturers and Traders Trust Company

Michigan

Illinois New York

Manhattan Beach Rancho Santa Margarita

Los Angeles

Paramount Bank

Missouri

Riverside

Non-Insured Banks Boston Partners Trust Company

New Hampshire

Greenbrae

Facilities of Other State Banks Closed

Four other state bank closed a facility during the year:

Opened

6/22/18 3/1/19 5/10/18 9/16/19 5/28/19 5/15/19

8/10/19

Facilities of Non-California State Banks Closed During the Year

Name of Bank Insured Banks

Builders Bank First Financial Northwest Bank First National Bank in Howell Southwestern National Bank

State

Illinois Washington Michigan Texas

Location

Los Angeles Manhattan Beach Irvine

Closed

4/12/17 11/17/17

4/22/19 11/19/19

Money Transmitters

On January 1, 2019, there were 104 money transmitters. During the year, nine money transmitters opened and seven closed, making 106 money transmitters at year-end.

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New Money Transmitters Nine money transmitters opened during the year: Money Transmitters Opened During the Year

Name

AvidXchange, Inc. DFS GSD Corp eBay Commerce, Inc. EncoreFX Ltd. LL Pay U.S., LLC Paypool LLC PingPong Global Solutions Inc. Veem Payments Inc. VendEngine, Inc.

Location

Charlotte, NC Phoenix, AZ San Jose Seattle, WA New York, NY Washington, DC San Mateo San Francisco Brentwood, TN

Money Transmitters Surrender of License

Seven money transmitters voluntarily surrendered their licenses:

Money Transmitters Closed During the Year

Name ADP Payroll Services, Inc. Bannockburn Global Forex, LLC Firma Foreign Exchange Corporation Noventis, Inc. Omega Intercontinental, Inc.. Softgate Systems of California, Inc. Tipalti, Inc.

Location San Dimas Cincinnati, OH Edmonton, AB Houston, TX Austin, TX San Jose San Mateo

Opened 8/19/19 9/24/19 12/27/19 12/17/19 5/28/19 6/25/19 8/21/19 2/19/19 11/14/19

Closed 1/15/19 9/5/19 1/29/19 1/24/19 10/11/19 11/29/18 6/18/19

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