Bay View Capital Announces Approval to Convert Charter.SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--Feb. 2, 1999--Bay View Capital Corp. (Nasdaq:BVCC BVCC Blackstone Valley Chamber of Commerce (Whitinsville, Massachusetts) BVCC Buena Vista Construction Company ) (the "Company") announced today that it has received all necessary approvals to convert Bay View Bank to a national bank regulated by the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. and the Company to a bank holding company regulated by the Federal Reserve Board. These conversions are expected to be formally completed by the end of the first quarter of 1999. Bay View Bank, established in 1911, is the largest independent bank operating exclusively in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . In conjunction with the national bank conversion, the Company's commercial subsidiary, Bay View Commercial Finance Group, will become a subsidiary of Bay View Bank. Upon completing this transaction, all of the Company's operating subsidiaries will reside within Bay View Bank. Edward H. Sondker, the Company's president and chief executive officer, commented, "We are very excited about the Company's conversion to a national bank charter. This conversion culminates our transformation to a commercial banking entity and allows us to continue as well as expand our focus on traditional commercial banking activities." Bay View Capital Corp. is a $5.6 billion diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services holding company headquartered in San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. . Its business activities are concentrated in three principal areas: Bay View Bank, its Banking Platform; Bay View Acceptance Corporation, its Consumer Platform; and Bay View Commercial Finance Group, its Commercial Platform. |
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