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 November 25, 2006

Filer Filing Type Filing Proposal End of Comment Period
FIRST CHARTER BANK * 18C
* Branch
First Charter Bank, Charlotte, North Carolina, to merge with Gwinnett Banking Company, Lawrenceville, Georgia.
Newspaper: 12/16/2006
Federal Register: Not applicable
MONARCH BANK * Branch Monarch Bank, Chesapeake, Virginia, proposes to establish a branch at 5225 Providence Road, Virginia Beach, Virginia.
Newspaper: 12/05/2006
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 First Quarter of 2007 (January 1, 2007 - March 31, 2007)

Institution Location
BANK OF FLOYD FLOYD, VIRGINIA
BANK OF THE COMMONWEALTH NORFOLK, VIRGINIA
FARMERS BK WINDSOR VA WINDSOR, VIRGINIA
FOUR OAKS B&TC FOUR OAKS, NORTH CAROLINA
HOMETOWN BK ROANOKE, VIRGINIA
NBRS FNCL RISING SUN, MARYLAND
OLD LINE BK BOWIE, MARYLAND
SECURITY ONE BK BAILEYS CROSSROADS, VIRGINIA
VIRGINIA BUS BK RICHMOND, VIRGINIA
VIRGINIA HEARTLAND BK FREDERICKSBURG, VIRGINIA
VIRGINIA HERITAGE BK FAIRFAX, VIRGINIA

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