The last number is called as a check digit number which is a confirmation number. The next four numbers identify the specific bank. The first four digits identify the Federal Reserve district where the bank is located. ACH routing number is a nine digit number. Banks offer ACH services for businesses who want to collect funds and make payments electronically in batches through the national ACH network. ACH helps to improves payment processing efficiency and accuracy, and reduce expenses.
This routing number is used for electronic financial transactions in the United States.
Routing numbers may differ depending on where your account was opened and the type of transaction made.Įach routing number is unique to a particular bank, large banks may have more than one routing number for different states.ĪCH Routing Number: ACH Routing Number stands for Automated Clearing House (ACH). This number identifies the financial institution upon which a payment is drawn. The ABA routing number is a 9-digit identification number assigned to financial institutions by The American Bankers Association (ABA). Arnold Schwarzenegger.ABA Routing Number: Routing numbers are also referred to as "Check Routing Numbers", "ABA Numbers", or "Routing Transit Numbers" (RTN). DFI reports to Business, Transportation & Housing Agency Secretary Sunne Wright McPeak and Gov. The Department is responsible for administering state laws regulating state-licensed financial institutions: banks, credit unions, industrial banks, savings associations, trust companies, offices of foreign banks, issuers of travelers’ checks and payment instruments (money orders), and transmitters of money abroad. Like all California state-chartered banks, Cornerstone Community Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC), up to $100,000 per depositor.ĭFI supervises over 700 financial institutions. The Web site address is William Ellison will serve as President/CEO Raymond Anderson as Chief Financial Officer and Sherry Johnson as Chief Credit Officer. Each new bank has its unique characteristics, which range from serving a small community or ethnic community to offering special services for small businesses and professionals.Ĭornerstone Community Bank headquarters will be located at 705 Jefferson Street, Red Bluff, CA 96080. In addition, over 120 branches also opened their doors.
During 2005, assets for our financial institution licensees grew from $249 billion to $290 billion,” added Kelley.ĭuring the last five years, 77 new state-chartered banks have opened with DFI approval. Maintaining the integrity of financial services remains our primary mission as the industry continues to grow. Their role in business and industry are important to the economy and to our own personal well-being. “California’s financial institutions are symbols of safety and soundness.
Kelley, Acting Commissioner of Financial Institutions. “I am pleased to welcome Cornerstone Community Bank – the 17th new bank to open in 2006 – and to report that state-chartered banks continue to grow and prosper in California,” said Michael A. Cornerstone Community Bank will open for business on Octoin Red Bluff, Tehama County, California with an initial capital of $12 million. San Francisco-The California Department of Financial Institutions (DFI) announced today that the Department has approved the opening of a new state bank.
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