THE STATE BANKING SYSTEM IN 2009

THE STATE BANKING SYSTEM IN 2009

Commercial Banks

New Banks

On January 1, 2009, there were 218 state-chartered commercial banks. During the year, one commercial bank opened for business and eleven banks were closed and ordered liquidated. Two banks became extinct through merger and two industrial banks converted to commercial banks bringing the total number of state-chartered commercial banks to 208 at yearend.

The banks opened and closed during the year are:

Commercial Banks Opened During the Year

Name

Valley Republic Bank

City

Bakersfield

Capitalization

$24,597,930

Opened

2/2/09

Commercial Banks Closed During the Year

Name of Bank

Location

1st Centennial Bank Affinity Bank Alliance Bank County Bank First Bank of Beverly Hills Imperial Capital Bank MetroPacific Bank Mirae Bank San Joaquin Bank Temecula Valley Bank United Commercial Bank

Redlands Ventura Culver City Merced Calabasas La Jolla Irvine Los Angeles Bakersfield Temecula San Francisco

Conversion to State Charter

Acquiring Bank

First California Bank Pacific Western Bank California Bank & Trust Westamerica Bank none City National Bank Sunwest Bank Wilshire State Bank Citizens Business Bank First Citizens Bank & Trust East-West Bank

Location Westlake Village San Diego San Diego San Rafael N/A Los Angeles Tustin Los Angeles Ontario Raleigh, NC San Marino

Two industrial banks converted to commercial banks:

Name Silvergate Bank Tamalpais Bank

Location San Diego San Rafael

Closed

1/23/09 8/28/09

2/6/09 2/6/09 4/24/09 12/18/09 6/26/09 6/26/09 10/16/09 7/17/09 11/6/09

Converted 3/4/09 1/30/09

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Mergers

In 2009, there were two mergers involving state-chartered banks. The following table lists those mergers:

Surviving Bank CommerceWest Bank, N.A. Compass Bank

Industrial Banks

Location

Irvine Birmingham, AL

Merged Bank

Discovery Bank BBVA Bancomer USA

Location

San Marcos Diamond Bar

Merged

7/24/09 9/10/09

On January 1, 2009, there were 12 industrial banks. During the year, two industrial banks converted to commercial banks, bringing the total number of industrial banks to ten at yearend.

Conversion to State Charter

Two industrial banks converted to state-chartered commercial banks:

Name Silvergate Bank Tamalpais Bank

Credit Unions

Location San Diego San Rafael

Converted 3/4/09 1/30/09

On January 1, 2009, there were 187 state-chartered credit unions. During the year, three state chartered credit unions were placed into receivership. Twelve state-chartered credit unions became extinct through merger, one state chartered credit union converted to federal charter and one state chartered credit union voluntarily surrendered its license, making 170 state chartered credit unions at the end of the year.

There were five out-of-state credit union with offices in California at the start of the year. During 2009, two out-of-state credit unions opened offices in California, making seven out-ofstate credit unions with offices in California at yearend. The credit unions closed during the year are:

Credit Unions Closed During the Year

Name of Credit Union Kaiser Lakeside Credit Union

Second Baptist Church Credit Union Watts United Credit Union

Location Oakland

Los Angeles Los Angeles

Acquiring Credit Union

SafeAmerica Credit Union Prosperity Federal Credit Union none

Location

Pleasanton Rancho Dominguez N/A

Closed 8/31/09

10/28/09 07/06/09

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Mergers

In 2009, there were 14 mergers involving state-chartered credit unions. The following table lists those mergers

Surviving Credit Union California Agribusiness Credit Union

California Coast Credit Union Camino Federal Credit Union Credit Union of Southern California Financial Partners Credit Union Golden 1 Credit Union

NuVision Financial Federal Credit Union Pasadena Service Federal Credit Union

Printing Industries Credit Union

SAFE Credit Union Schools First Federal Credit Union Self-Help Federal Credit Union Southland Credit Union

Location

Buena Park San Diego Montebello

Merged Credit Union

Yamaha Employees Federal Credit Union Financial 21 Community Credit Union Alisos Credit Union

Location

San Diego San Diego Norwalk

Brea Downey Sacramento

Huntington Beach

Pasadena

Los Angeles

North Highlands

Westworks Credit Union Pacific Coast Credit Union Steinbeck Credit Union U.S. First Credit Union

E1 Financial Credit Union Vernon/Commerce Credit Union Printing and Publishing Employees Credit Union American River HealthPro Credit Union

Alhambra Costa Mesa Salinas San Mateo

Monterey Park

Commerce

Riverside

Rancho Cordova

Santa Ana Durham, NC Los Angeles

Service Plus Credit Union Community Trust Credit Union Cityside Federal Credit Union

Riverside Modesto Los Angeles

Merged

7/1/09

7/1/09 7/1/09

12/31/09 4/22/09 5/29/09 9/30/09

10/1/09

11/30/09

11/30/09

7/1/09

8/25/09 6/9/09 7/31/09

Conversion to State Charter

4B

One credit union converted to federal charter:

Name Ocean Crest Credit Union as Ocean Crest Federal Credit Union

Location Signal Hill

Converted 2/3/09

Voluntary Surrender of License

5B

One credit union voluntarily surrendered its license:

Name Southern California Latvian Credit Union

Location Covina

Converted 1/16/09

Premium Finance Companies

0B

There were 113 premium finance companies on January 1, 2009. During the year, four premium finance companies opened, including one that opened in 2008 but was not previously reported. Eight voluntarily surrendered their licenses making 109 premium finance companies at yearend.

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New Premium Finance Companies

Four premium finance companies opened for business:

Premium Finance Companies Opened During the Year

Name Bulldog Premium Finance of California, Inc. G&G Premium Finance, Inc.* , Inc. Ocean View Premium Finance of California, Inc.

* Opened during 2008 (not previously reported)

1B

Location Sacramento Agoura Hills Woodland Hills La Mesa

Opened 03/27/09 08/01/08 09/15/09 05/26/09

Voluntary Surrenders of License

Eight premium finance companies voluntarily surrendered their licenses:

Premium Finance Companies Closed During the Year

Name Allied Premium Finance Co., Inc. AMGRO Premium Financing, Inc. Broadway Premium Funding Corp. of California Coastal Premium Finance Corp. Life Credit Corporation Oasis Financial Services, Inc. Old Saybrook Premium Finance, Inc. Partners Premium Finance Company

Location La Mesa Burbank Laguna Niguel San Diego La Jolla Orange Woodland Hills Orange

Closed 1/14/09 9/17/09 2/25/09 5/12/09 9/17/09 3/26/09 12/7/09 9/17/09

Trust Companies and Departments

There was no change to the number of trust companies on January 1, 2009, which remained constant at seven during the year.

On January 1, 2009 there were 19 bank trust departments. During the year, one bank with a trust department failed making 18 banks with trust departments at yearend 2009.

Trust Departments Closed During the Year

Name of Bank

County Bank

Location

Merced

Acquiring Bank

Westamerica Bank

Location

San Rafael

Closed

2/6/09

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Foreign (Other Nation) Banks

On January 1, 2009, there were 41 agencies and branch offices representing 35 foreign (other nation) banks. During the year, two nondepositary agencies converted to wholesale branch offices, and one nondepositary agency converted to a representative office. One limited branch closed and one depositary agency converted to a representative office making 38 agencies and branch offices representing 32 banks.

Of the total, seven are depositary agencies, four are non-depositary agencies, two are limited branch offices, two are retail branch offices and 23 are wholesale branch offices.

Branch Offices Opened During the Year

Name of Bank

Wholesale Branch

7B

Mizuho Corporate Bank, Ltd.a P

Woori Bank a P

a converted from a Nondepositary Agency

Country

Japan South Korea

Location

Los Angeles Los Angeles

Agency and Branch Offices Closed During the Year

Opened

8/3/09 5/26/09

Name of Bank

Limited Branch

8B

Commerzbank Aktiengesellschaft

Depositary Agency

9B

The Bank of Nova Scotia a P

Nondepositary Agency

10B

Canadian Imperial Bank of Commerce a P

Mizuho Corporate Bank, Ltd. b P

Woori Bank b P

a converted to a Representative Office b converted to a Wholesale Branch

Country

Germany

Canada

Canada Japan South Korea

Representative Offices of Foreign (Other Nation) Banks

Location

Los Angeles

San Francisco

Los Angeles Los Angeles Los Angeles

Closed

9/1/09

11/1/09

5/18/09 8/3/09 5/26/09

On January 1, 2009, there were 20 foreign (other nation) banks with representative offices in California. During the year, one depositary agency and one nondepositary agency of foreign (other nation) banks converted to representative offices in California and eight representative office closed or were removed from the count, making 14 representative offices at yearend. The representative offices that opened are shown on the following table:

Representative Offices of Foreign (Other Nation) Banks Opened

Two foreign (other nation) banks opened representative offices during the year:

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Representative Offices of Foreign (Other Nation) Banks Opened During the Year

Name of Bank The Bank of Nova Scotia a

P

Canadian Imperial Bank of Commerce b P

a converted from a Depositary Agency b converted from a Nondepositary Agency

Country Canada Canada

Location San Francisco Los Angeles

Opened 11/1/09 5/18/09

Eight foreign (other nation) banks closed or were deleted from the count: Representative Offices of Foreign (Other Nation) Banks Closed During the Year

Name of Bank DEPFA Bank plc eBANK Corporation Eurohypo Aktiengesellschaft Governor and Company of the Bank of Ireland (The) HSH NordBank AG KBC Bank N.V. Nacional Financiera, S.N.C. Natixis

Country Ireland Japan Germany

Ireland Germany Belgium Mexico France

Location Sacramento San Francisco Los Angeles

Los Angeles San Francisco Los Angeles Los Angeles Los Angeles

Opened 3/4/09 2/28/09 8/31/09

3/31/09 2/2/09

6/30/09 5/1/09 5/15/09

Foreign (Other State) Banks

6B

On January 1, 2009, there were 38 foreign (other state) banks with facilities in California. During the year, three banks opened facilities and four banks closed facilities, making 37 foreign (other state) banks with facilities on December 31, 2009, of which 34 were insured foreign (other state) banks and three were non-insured foreign (other state) banks. The facilities that opened and closed are shown on the following tables:

Facilities of Foreign (Other State) Banks Opened

Three foreign (other state) banks opened facilities during the year: Facilities of Foreign (Other State) Banks Opened During the Year

Name of Bank

State

Location

Opened

Insured Banks

11B

Crestmark Bank Enterprise Bank & Trust Evolve Bank and Trust

Michigan Missouri Arkansas

Facilities of Foreign (Other State) Banks Closed

2B

Granada Hills Rancho Cucamonga San Juan Capistrano

9/9/09 4/2/09 4/9/09

Five foreign (other state) banks closed their facilities or were deleted from the count:

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Facilities of Foreign (Other State) Banks Closed During the Year

Name of Bank

State

Location

Closed

Insured Banks

12B

Compass Bank First International Bank Modern Bank, N.A. Silverton Bank, N.A.

Non-Insured Banks Rock River Trust Company

Alabama Texas New York Georgia

Illinois

Irvine City of Industry Beverly Hills Camarillo

San Francisco

8/21/09 4/1/09 3/16/09 5/1/09

4/30/09

Transmitters of Money Abroad

On January 1, 2009, there were 55 transmitters of money abroad, nine issuers of payment instruments and two issuers of travelers checks. During the year, four transmitters of money abroad opened and four closed. One issuer of payment instruments opened, making 55 transmitters of money abroad, ten issuers of payment instruments and two issuers of travelers checks licensed by the Department of Financial Institutions at yearend.

New Transmitters of Money Abroad

Four transmitters of money abroad opened during the year:

Transmitters of Money Abroad Opened During the Year

Name Dahabshil, Inc. Google Payment Corp. Hong Lan Services Inc. Tempo Financial U.S. Corporation

Transmitter of Money Abroad Surrender of License

3B

Location Hilliard, OH Mountain View Westminster Greenwood Village, CO

Opened 5/19/09 5/21/09 6/22/09 5/19/09

Four transmitters of money abroad voluntarily surrendered their licenses: Transmitters of Money Abroad Closed During the Year

Name Bancomercio de El Salvador, Inc. JOM Corp. Multivalores, Inc. Naunihal Currency Exchange, Inc.

Location Falls Church, VA San Diego Los Angeles Hayward

Closed 3/31/09

1/5/09 10/31/09

6/30/09

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New Issuer of Payment Instruments One issuer of payment instruments opened during the year:

Issuer of Payment Instruments Abroad Opened During the Year

Name Order Express, Inc.

Location Chicago, IL

Opened 9/15/09

Business and Industrial Development Corporations (BIDCO)

There was no change to the number of BIDCOs, which remained constant at one throughout the year.

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