2001 – 2013 Department of Financial Institutions News Releases

Telesis Community Credit Union Placed into Liquidation

SAN FRANCISCO, CA (June 1, 2012) – The California Department of Financial Institutions (DFI) today announced that Telesis Community Credit Union (Telesis) has been placed into liquidation. Telesis is a federally insured, state-chartered credit union based...

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MEDIA ADVISORY Financial Literacy Fair on April 24

What: California Financial Literacy Month and Teach Children to Save Day Fair Date: April 24, 2012 Time: 11:00 a.m. – 1:00 p.m. Location: State Capitol, South Steps (N St.), Sacramento, California The Financial Literacy Month and Teach Children to Save Day...

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Telesis Community Credit Union Placed into Conservatorship

(SAN FRANCISCO, CA) - The California Department of Financial Institutions (DFI) today announced that Telesis Community Credit Union has been placed into conservatorship.Telesis Community Credit Union is a federally insured, state-chartered credit union...

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State Closes Charter Oak Bank

(San Francisco, CA) The California Department of Financial Institutions (DFI) today announced the closure of Charter Oak Bank due to inadequate capital and lack of earnings. Charter Oak Bank is a federally insured, state-chartered commercial bank located...

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State Closes Western Commercial Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) today announced the closure of Western Commercial Bank due to inadequate capital and weakened financial condition. Western Commercial Bank is a federally insured,...

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State Closes First Vietnamese American Bank

(San Francisco, CA) The California Department of Financial Institutions (DFI) today announced the closure of First Vietnamese American Bank (First Vietnamese American) due to inadequate capital and lack of earnings.  First Vietnamese American is a...

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State Closes Pacific State Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) today announced the closure of Pacific State Bank, due to the bank’s inadequate capital and weakened financial condition. Pacific State Bank is a federally insured,...

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State Closes Sonoma Valley Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) today announced the closure of Sonoma Valley Bank, due to the bank’s inadequate capital and weakened condition. Sonoma Valley Bank is a federally insured, state-chartered bank...

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State Closes Butte Community Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) today announced the closure of Butte Community Bank, due to the bank's inadequate capital and weakened condition. Butte Community Bank is a federally insured, state-chartered...

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Arrowhead Central Credit Union Placed into Conservatorship

(San Francisco, CA) The Department of Financial Institutions (DFI) today announced that Arrowhead Central Credit Union was placed into conservatorship by the National Credit Union Administration (NCUA). Arrowhead Central Credit Union is a federally...

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State Closes 1st Pacific Bank of California

(San Francisco, CA) - The California Department of Financial Institutions (DFI) today announced that regulators have closed 1st Pacific Bank of California citing inadequate capital and other material weaknesses. As of April 30, 2010, 1st Pacific Bank of...

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State Closes Tamalpais Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) today announced the closure of Tamalpais Bank, due to the bank's inadequate capital and weakened condition. Tamalpais Bank is a federally insured, state-chartered commercial...

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State Closes Innovative Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) today announced the closure of Innovative Bank, due to the bank's inadequate capital and weakened condition. Innovative Bank is a federally insured, state-chartered bank based...

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State Closes First Regional Bank

(San Francisco, CA) The California Department of Financial Institutions (DFI) today announced that First Regional Bank (First Regional) was closed and ordered to be liquidated, citing inadequate liquidity and inadequate capital.  First Regional is a...

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State Closes Imperial Capital Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) announced today that regulators have closed Imperial Capital Bank citing inadequate capital and other material weaknesses. As of November 30, 2009, Imperial Capital Bank,...

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State Closes United Commercial Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that regulators have closed United Commercial Bank citing inadequate capital and other material weaknesses. As of October 29, 2009, United Commercial Bank, San...

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State Closes San Joaquin Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that regulators have closed San Joaquin Bank, citing inadequate capital and inadequate liquidity. San Joaquin Bank, located in Bakersfield, is a member of the...

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State Closes Affinity Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that regulators have closed Affinity Bank, citing inadequate capital. As of July 31, 2009, Affinity Bank, located in Ventura, had total assets of approximately...

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State Closes Temecula Valley Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that regulators have closed Temecula Valley Bank, citing inadequate capital. As of June 30, 2009, Temecula Valley Bank, located in Temecula, CA, had total...

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State Closes MetroPacific Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that regulators have closed MetroPacific Bank, citing inadequate capital. As of June 15, 2009, MetroPacific Bank, located in Irvine, had total assets of...

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State Closes First Bank of Beverly Hills

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that regulators have closed First Bank of Beverly Hills, citing inadequate capital.As of April 15, 2009, First Bank of Beverly Hills, located in Calabasas, CA...

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State Closes Alliance Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that it has closed Alliance Bank, citing inadequate capital. Immediately following the closure, the DFI named the Federal Deposit Insurance Corporation (FDIC)...

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State Closes County Bank

(San Francisco, CA) - The California Department of Financial Institutions (DFI) announced today that it has closed County Bank, citing inadequate capital. Immediately following the closure, the DFI named the Federal Deposit Insurance Corporation (FDIC) as...

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State Closes 1st Centennial Bank

Contact: Lila Mirrashidi(916) 322-5275 Press Releases Consumer Alerts Resources Press Releases 2018 Press Releases 2017 Press Releases 2016 Press Releases 2015 Press Releases 2014 Press Releases 2013

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State Closes Security Pacific Bank

(San Francisco, CA) - California Department of Financial Institutions (DFI) announced today that regulators have closed Security Pacific Bank, citing inadequate capital. As of October 31, 2008, Security Pacific Bank, located in Los Angeles, had total...

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RaAnn Wood Appointed Credit Union Deputy Commissioner

(San Francisco, CA) - Commissioner of Financial Institutions William S. Haraf today announced the appointment of RaAnn Wood as Deputy Commissioner, Credit Unions, for the Department of Financial Institutions (DFI). RaAnn Wood, of Los Angeles, was appointed...

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Sterlent Credit Union Liquidated

(San Francisco, CA) The California Department of Financial Institutions (DFI) and the National Credit Union Administration (NCUA) ordered the liquidation of Sterlent Credit Union (Sterlent), a state-chartered, federally insured credit union based in...

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State Closes Imperial Capital Bank

(San Francisco, CA) – The California Department of Financial Institutions (DFI) announced today that regulators have closed Imperial Capital Bank citing inadequate capital and other material weaknesses. As of November 30, 2009, Imperial Capital Bank,...

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Department of Financial Institutions Announces New State Bank – Alta Alliance Bank will open for business on October 16 in Oakland, CADepartment of Financial Institutions Announces New State Bank – Alta Alliance Bank will open for business on October 16 in Oakland, CA

San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Alta Alliance Bank will open for business on October 16, 2006 in Oakland, CA with an initial capital...

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GOV. SCHWARZENEGGER PROCLAIMS APRIL 2006 “CALIFORNIA FINANCIAL LITERACY MONTH” Department of Financial Institutions and Department of Corporations join together to urge Californians to “Prepare Now for a Strong Financial Future”

SACRAMENTO-The state Department of Financial Institutions (DFI) and the state Department of Corporations (DOC) will partner during this year's annual California Financial Literacy Month to highlight the month's theme of "Prepare Now for a Strong Financial...

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Department of Financial Institutions Announces California Financial Literacy Month Consumer Outreach Poster – “Families Building Strong Financial Futures”Department of Financial Institutions Announces California Financial Literacy Month Consumer Outreach Poster – “Families Building Strong Financial Futures”

Sacramento- California's Commissioner for Financial Institutions Howard Gould today announced the availability of a consumer outreach poster to support California Financial Literacy Month (CAFLM) educational efforts. The theme of this year's CAFLM is...

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Department of Financial Institutions Announces New State Bank – Commonwealth Business Bank will open its doors in Los Angeles on March 3 Department of Financial Institutions Announces New State Bank – Commonwealth Business Bank will open its doors in Los Angeles on March 3

San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank. Commonwealth Business Bank will open its doors in Los Angeles on March 3, 2005 with a capitalization...

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Commissioner of Financial Institutions Determines that an Extraordinary Situation Exists – Authorizes Banks Located in the County of Riverside Proclaimed in State of Emergency to Close and Provides Flexibility Needed to Service Customers in Fire-Affected Areas

San Francisco - The Department of Financial Institutions (DFI) today authorized banks located in the county of Riverside declared to be in a state of emergency by the Governor to close any or all of their offices affected by the fires.Pursuant to...

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Commissioner of Financial Institutions Determines that an Extraordinary Situation Exists – Authorizes Banks Located in the Counties Proclaimed in State of Emergency to Close and Provides Flexibility Needed to Service Customers in Fire-Affected Areas

San Francisco - The Department of Financial Institutions (DFI) today authorized banks located in the counties of Los Angeles, San Bernardino, San Diego and Ventura declared to be in a state of emergency by the Governor to close any or all of their offices...

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State Closes Troubled Southern Pacific Bank

San Francisco - Citing mounting operations and loan losses, the State of California today closed the Southern Pacific Bank, an industrial bank, located in Torrance, California along with three branches located in Brentwood, West Los Angeles and Irvine. It...

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Radio Actuality of Governor Davis’ Remarks Now Available

SACRAMENTO - Governor Gray Davis today briefed reporters and the state on what California is doing protect its citizens in the aftermath of today's attacks in NewYork and Washington.To hear the complete remarks, call (916) 327-6917.Press 4 for Governor...

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State Department of Financial Institutions Obtains Permanent Injunction Against Allied Boston BankState Department of Financial Institutions Obtains Permanent Injunction Against Allied Boston BankState Department of Financial Institutions Obtains Permanent Injunction Against Allied Boston Bank

SACRAMENTO - The California Department of Financial Institutions (DFI) obtained a permanent injunction against Allied Boston Bank ("Allied") on June 26, 2001. Allied is an offshore bank licensed by the Republic of Palau."The injunction prohibits Allied...

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