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Interpretations and Actions: August 2008

Vol. 21, No. 8

Community Development Investment Letters

Letter No. Topic
2008-1 Investment in fund for solar energy producing facilities - A national bank may invest in limited liability entities each of which will develop, acquire, install and maintain solar energy-producing facilities and provide electricity for specified properties. 07/31/2008

Corporate Decisions

Letter No. Topic
2008-03 Application from Wells Fargo Bank, National Association, Sioux Falls, South Dakota, to purchase and assume certain assets and liabilities of nine branches of Citibank, N.A., Las Vegas, Nevada (Control Number 2008 ML 02 0004), 07/14/2008

Approvals with Conditions Enforceable under 12 U.S.C. 1818

Letter No. Topic
867 Application for Citrus Bank, N.A., Vero Beach, Florida, to change the composition of all, or substantially all, the assets by sale of disposition by merging into its top tier bank holding company, CIB Marine Bancshares, Inc. (Control Number 2008 SO 12 0121), 07/08/2008
868 Application to establish a new national bank with the title of "Ventana National Bank of California" headquartered in San Diego, California (Control Number 2008 WE 01 0003), 07/14/2008
869 Application by The Frost National Bank, San Antonio, Texas, to establish an operating subsidiary to engage in certain permissible activities (Control Number 2007 SO 08 0032), 07/22/2008
870 Application by National Australia Bank Limited to establish a limited federal branch with the title of "National Australia Bank Limited, Chicago Branch," to be located at 311 South Wacker Drive, Chicago, Illinois (Control Number 2008 IB 10 0002), 07/23/2008
871 Application by California National Bank, Los Angeles, California, to make a substantial purchase of certain assets and certain liabilities of PFF Bank and Trust, Rancho Cucamonga, California (Control Number 2008 CE 02 021), 07/24/2008
872 Change in Bank Control Act Notice in connection with the proposed acquisition of First National Bank of Cainesville, Cainsville, Missouri by J. Christopher Flowers and request for director residency waiver (Control Numbers 2008 WE 11 0003 & 12 0138), 08/27/2008

Final Enforcement Actions

Enclosed is a copy of the OCC's news release number 2008-95, announcing the availability of enforcement actions. Copies of the final actions are available by writing to the OCC, Public Information Room, Mail Stop 1-5, Washington, D.C. 20219. When ordering, specify the appropriate enforcement action number.

Community Reinvestment Act (CRA) Performance Evaluations

Enclosed is a list of CRA performance evaluations that became public during the period of July 15, 2008 through August 14, 2008.

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 office of Licensing. 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 timelier manner.

The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND ACTIONS monthly. Subscriptions are available at a rate of $200 per year by writing to the Comptroller of the Currency, ATTN: Financial Management, Accounts Receivable, Mail Stop FM-2, Washington, DC 20219. Prepayment is requested. Suggestions, comments or questions may be sent to Jacqueline J. England, Comptroller of the Currency, Communications Division, Mail Stop 3-2, Washington, DC 20219.