The State Banking System in 2021


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THE STATE BANKING SYSTEM IN 2021

Commercial Banks

On January 1, 2021, there were 108 state-chartered commercial banks. During the year, one bank opened, one bank converted to a foreign (other state) bank charter, six banks merged out of existence bringing the total number of state-chartered commercial banks to 102 at year-end.

New Banks

One new bank opened:

Name Genesis Bank

Location Newport Beach

Opened 8/2/21

Conversion to Foreign (Other State) Bank

One state-chartered bank converted to a foreign (other state) bank:
Name Sunwest Bank, to convert to a Utah-chartered bank under the name Sunwest Bank

Location Irvine

Converted 9/30/21

Mergers

Six state-chartered banks merged with other institutions:

Surviving Bank Banc of California, N.A. Bank of Marin Bank of Southern California, N.A. Columbia State Bank

Location Santa Ana Novato San Diego Tacoma, WA

Enterprise Bank & Trust Plumas Bank

Clayton, MO Quincy

Merged Bank
Pacific Mercantile Bank American River Bank Bank of Santa Clarita Merchants Bank of Commerce First Choice Bank Bank of Feather River

Location Costa Mesa Sacramento Santa Clarita Sacramento
Cerritos Yuba City

Merged 10/18/21
8/7/21 10/1/21 10/1/21
7/22/21 7/1/21

Three state-chartered banks acquired foreign (other state) banks by merger:

Surviving Bank Commonwealth Business Bank First Foundation Bank Silicon Valley Bank

Location Los Angeles Irvine Santa Clara

Merged Bank
Ohana Pacific Bank First Florida Integrity Bank Boston Private Bank & Trust Company

Location Honolulu, HI Naples, FL Boston, MA

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

Merged 7/13/21 12/17/21 7/1/21

1

Credit Unions

On January 1, 2021, there were 121 state-chartered credit unions. During the year, one statechartered credit union merged with another institution, resulting in 120 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.

Mergers

In 2021, one state chartered-credit union merged with another institution:

Surviving Credit Union Valley Strong Credit Union

Location Bakersfield

Merged Credit Union Financial Center Credit Union

Location Stockton

Merged 10/1/21

Four state-chartered credit unions acquired federal credit unions during the year:

Surviving Credit Union Arrowhead Central Credit Union
Credit Union of Southern California
University Credit Union Valley Strong Credit Union

Location Rancho Cucamonga Anaheim
Los Angeles Bakersfield

Merged Credit Union
Peoples Independent Church Federal Credit Union Federal Employees West Federal Credit Union Chabot Federal Credit Union
Solano First Federal Credit Union

Location Los Angeles
Los Angeles
Dublin Fairfield

Premium Finance Companies

Merged 10/1/21
7/1/21
10/31/21 7/1/21

On January 1, 2021, there were 104 premium finance companies. During the year, one premium finance company opened and four voluntarily surrendered their licenses bringing the number of premium finance companies to 102 at year-end.

New Premium Finance Companies

Two premium finance companies opened for business:

Premium Finance Companies Opened During the Year

Name Fintruss CA Corp.

Location Newport Beach

Opened 9/1/21

2

Voluntary Surrenders of License

Four premium finance companies voluntarily surrendered their licenses:

Premium Finance Companies Closed During the Year

Name
Granite Premium Finance, Inc. Premium Finance Funding, Inc. dba Premium Finance Funding Skipjack Premium Finance Company

Location Newport Beach Newport Beach
Encino

Closed 4/13/21 2/16/21
2/23/21

Trust Companies and Departments

On January 1, 2021, there were seven trust companies. During the year one trust company opened for business bringing the number of trust companies to eight at year-end. The number of statechartered bank trust departments increased by one to 16 during the year.

Trust Companies

One trust company opened for business:

Name Sunstone Trust Company

Location Long Beach

Licensed 6/9/21

Trust Powers

One state-chartered bank was licensed to engage in the trust business:

Name Silicon Valley Bank

Location Santa Clara

Licensed 7/1/21

Foreign (Other Nation) Banks

On January 1, 2021 there were 28 agencies and branch offices representing 25 banks. During the year, one depositary agency closed, and one wholesale branch office converted to a representative office, making 26 agencies and branch offices representing 23 banks.

Agencies and Branch Offices Closed During the Year

Name of Bank Depositary Agency Krung Thai Bank Public Company Limited
Wholesale Branch Office The Shizuoka Bank, Ltd*.
* Converted to representative office

Country Thailand Japan

Location Los Angeles Los Angeles

Closed 11/30/21
9/30/21

3

Of the total, four were depositary agencies, two were limited branch offices, two were retail branch offices and 18 were wholesale branch offices.
Representative Offices of Foreign Banks
On January 1, 2021, there were 14 foreign banks with representative offices in California. During the year, one new representative office opened, one wholesale branch office converted to a representative office and one representative office closed, making 15 representative offices at yearend. The representative offices that opened and closed are shown on the following tables.
Two representative offices opened:
Representative Offices of Foreign Banks Opened During the Year

Name of Bank ICICI Bank Limited The Shizuoka Bank, Ltd*.

Country India Japan

Location Sunnyvale Mountain View

Opened 8/27/21 11/1/21

* Converted from wholesale branch office

One representative office closed:

Representative Offices of Foreign Banks Closed During the Year

Name of Bank Banco Santander, S.A.
Money Transmitters

Country Spain

Location Palo Alto

Closed 11/30/21

On January 1, 2021, there were 109 money transmitters. During the year, nine money transmitters opened and one closed, making 117 money transmitters at year-end.

New Money Transmitters

Nine money transmitters opened during the year:

Money Transmitters Opened During the Year

Name
Airwallex US, LLC AllPaid, Inc. dba GovPayNet CSG Forte Payments, Inc eMoola Inc. Mezu (NA), Inc. NIC Services, LLC Robinhood Money, LLC TapTap Send Payments Co. Utopa America Inc.

Location
San Francisco Indianapolis, IN Allen, TX City of Industry New York, NY Olathe, KS Menlo Park New York, NY Middlesex, NJ

Opened
1/15/21 4/30/21 7/09/21 1/15/21 5/28/21 6/3/21 12/10/21 11/23/21 5/07/21

4

Money Transmitters Surrender of License

One money transmitter voluntarily surrendered its license: Money Transmitters Closed During the Year

Name Adyen, Inc.

Location San Francisco

Closed 4/14/21

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The State Banking System in 2021