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Current Events - 04/08/2002

Industry Brief

According to a recent poll from the National Federation of Independent Business, 27 percent of small business owners believe that financial institutions have violated their privacy. The only group to rate higher than financial institutions was credit reporting agencies…Wells Fargo Financial bought Washington Mutual's rediscount loan unit for an undisclosed sum. This unit is located in Philadelphia, houses seven employees and was part of Washington Mutual's acquisition of Bank United Corp. in 2001…After the merger of the Kentucky Bankers Association and the Community Bankers of Kentucky, a dissatisfied faction of community bankers has split from the organization to form the Bluegrass Bankers Association. Representatives from the Bluegrass Bankers Association indicated that the merger was highly contentious and that many community banks in Kentucky felt the KBA did a poor job of representing their interests…The Office of Thrift Supervision has announced plans to roll its compliance exam into its safety-and-soundness exam. It would require thrifts to conduct a "self-evaluation" prior to the exam from OTS - a decision being publicly questioned by community- and CRA-focused organizations.

Personnel Listings

The following are positions currently available in California's banking industry:

Provident Bank, a leading financial institution with over $1 billion in assets is seeking an experienced individual to fill the position of CORPORATE COMPLIANCE COORDINATOR in Riverside, Calif. The qualified candidate will possess previous experience working within a compliance environment, along with the ability to manage large compliance projects. Must be able to effectively communicate both orally and in writing and possess excellent organization skills. Will maintain cooperative working relationships with all levels of staff and possess an understanding of compliance rules and regulations. We offer competitive compensation & benefits packages. May require occasional travel. Interested candidates should fax their resume to (909) 786-4725 or e-mail to humanresources@myprovident.com No phone calls please. EOE M/F/D/V

A position for an OPERATIONS COMPLIANCE OFFICER is open at Farmers & Merchants Bank in Long Beach.

The ideal candidate for this position will have 5 to 7 years operational background and experience with state and federal regulations that relate to the operations area of the Bank. This will include, but is not limited to, Truth in Savings, Electronic Funds transfers (Reg E), OFAC, Privacy laws, Expedited Funds-holds on deposits (Reg CC), Bank Secrecy & OFAC.

The preferred candidate will be capable of resolving the most complex problems with a minimum of oversight; possess the ability to work with all levels of personnel and to motivate personnel to change or adapt procedures to achieve compliance. Position requires a detail-oriented individual with the ability to read, comprehend and apply large volumes of regulatory material in an efficient and effective manner.

This position requires the ability and desire to foster and interact in a team environment, and a willingness to contribute to team efforts. Effective oral & written communication and interpersonal skills, and strong leadership skills are required. College degree or commensurate experience required.

If you would like to know more about this position or you would like an opportunity to be considered, please forward your inquiry and/or resume and salary requirements to Valentina.Fiorentino@fmb.com.

Bill Gregory

It is with great sadness that CBA announces the passing of one of its past presidents and board members, Bill Gregory. Bill held diverse positions with California Bank, the Bank of Hawaii and United California Bank/First Interstate. Long regarded as the national expert in correspondent banking, Bill continued to work as a consultant for First Interstate Bank and Wells Fargo bank after his 1985 retirement until 2001. Bill Gregory passed away on March 18, 2002, at the age of 81.