Corporate Applications and Other Requests:
Vol. 18, No. 4
IN THIS ISSUE:
| Letter No.
|| Letter concludes that a national bank that renews a
loan to an insider violates section 215.4(a)(1) of Regulation O and section
22(h)(A) of the Federal Reserve Act if the loan either (i) is preferential or
(ii) involves more than the normal risk of repayment or presents other
unfavorable features. WORD
|| Letter concludes that it is permissible for a national
bank to engage in customer-driven electricity derivative transaction and
hedges, settled in cash and by transitory title transfer, as activities part
of, or incidental to, bank permissible financial intermediation transactions.
| Letter No.
||Change in Bank Control Act notices in connection with
the proposed acquisition of First National Bank of Marin, Las Vegas, Nevada, by
Sherman Financial Group LLC, Radian Group, Inc., and MGIC Investment
Corporation. (Control Numbers 2004 WE 11 0010, 0011 and 0012),
||Operating subsidiary application by JPMorgan Chase
Bank, N.A., New York, New York to acquire Vastera, Inc. (Control Number 2005 ML
08 0001), WORD
Approvals with conditions enforceable under 12 U.S.C. 1818
| Letter No.
||Application to convert Investors Trust Company,
Wyomissing, Pennsylvania, into a limited purpose national trust bank to be
title "National Penn Investors Trust Company" and become a subsidiary of
National Penn Bank, Boyertown, Pennsylvania. (Control Number 2004 NE 01 0011),
||Application by Treasury Bank, National Association,
Alexandria, Virginia, to increase its capital surplus by up to $300 million.
(Control Number 2005 WE 12 0058),
||Application to convert Valley Independent Bank, El
Centro, California, to a national bank with the title of "Rabobank, National
Association" and retain all of its branches. (Control Number 2004 WE 01 0026),
Charters with standard conditions
| Letter No.
||Application to charter Saigon National Bank,
Westminster, California. (Control Number 2004 WE 01 0022),
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number
announcing the availability of enforcement actions. Copies of the final actions
are available by writing to the OCC, Public Reference Room, Mailstop 1-5,
Washington, D.C. 20219. When ordering, specify the appropriate enforcement
Community Reinvestment Act (CRA) Performance Evaluations
Enclosed is a list of CRA performance evaluations that
became public during the period of
March 15, 2005 through April 14.
PLEASE NOTE: Interpretive Letters and No-Objection
Letters reflect the views of the Comptroller's legal staff. Corporate
Decisions, CRA Decisions and Conditional Approvals are from the Licensing
department. The Community Development Investment Letters are from the office of
Community Affairs. The list of CRA Ratings is from the Communications Division.
For copies of the CRA evaluations, you may either contact the bank directly, or
you may write to the Office of the Comptroller of the Currency (OCC) in any of
three ways: by mail to the OCC, Attn: Public Information Room, Mail Stop 1-5,
Washington, D.C. 20219; by fax to (202) 874-4448; or by e-mail to
You may also write to the OCC for copies of enforcement actions and charters
with standard conditions.
Members of the news media are encouraged to cite the
letter number when reporting or summarizing documents from this package. This
helps us to process single requests based upon your citation in a more timely
The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND
ACTIONS monthly. Subscriptions are available at a rate of $175 per year by
writing to the Comptroller of the Currency, ATTN: Accounts Receivable, Mailstop
4-8, 250 E Street, S.W., Washington, DC 20219. Prepayment is requested.
Suggestions, comments or questions may be sent to Jacqueline J. England,
Communications Division, Comptroller of the Currency, Mail Stop 3-2,
Washington, DC 20219.