Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

District: 5
Federal Reserve Bank of: Richmond

Filings received during the week ending May 12, 2007

Filer Filing Type Filing Proposal End of Comment Period
BANK OF AMERICA CORPORATION Other Foreign Bank of America Corporation, Charlotte, North Carolina, to acquire U.S. Trust Corporation, New York, New York, and thereby indirectly acquire United States Trust Company International Corporation.
Newspaper: Not applicable
Federal Register: Not available
BANK OF THE COMMONWEALTH * Branch Bank of the Commonwealth, Norfolk, Virginia, proposes to establish a branch at Out-Parcel A, Red Mill Walk, Upton Drive, Virginia Beach, Virginia.
Newspaper: 05/26/2007
Federal Register: Not applicable
BANK OF VIRGINIA * Branch Bank of Virginia, Midlothian, Virginia, proposes to establish a branch at 10501 Patterson Avenue, Richmond, Virginia.
Newspaper: 05/17/2007
Federal Register: Not applicable
NEW PEOPLES BANK, INC. * 18C New Peoples Bank, Inc., Honaker, Virginia, to acquire certain assets and assume certain liabilities of the Norton, Virginia, and Pennington Gap, Virginia, branch offices of FNB Southeast, Reidsville, North Carolina.
Newspaper: Not available
Federal Register: Not applicable
RBC CENTURA BANK * Branch RBC Centura Bank, Raleigh, North Carolina, to establish a branch at 600 N. Congress Avenue, Boynton Beach, Florida.
Newspaper: 05/19/2007
Federal Register: Not applicable


Availability of CRA Public Evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding
S = Satisfactory
NI = Needs to improve
SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.
 
Institution / Location
RSSD
ID
 
Exam Date
CRA
Public Date
CRA
Rating
Exam Method
NONE


CRA Examinations scheduled for     Quarter of

Institution Location
NONE

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco