Public Information Documents

Actions taken by the Federal Reserve Bank of Richmond under delegated authority

Bank Branches, Domestic
Benchmark Community Bank, Kenbridge, Virginia -- to establish a branch at 140 Main Street, Oxford, North Carolina, and to increase its investment in bank premises.
- Approved, October 21, 2025
MainStreet Bank, Fairfax, Virginia -- to establish a branch at 10 North Pendleton Street, Middleburg, Virginia.
- Approved, October 16, 2025
United Community Bank, Greenville, South Carolina -- to establish a branch at 110 Oakwood Drive, Winston-Salem, North Carolina.
- Approved, October 15, 2025
First Bank, Southern Pines, North Carolina -- to establish a branch at 162 College Street, Asheville, [North Carolina.]
- Approved, June 5, 2025
The First Bank and Trust Company, Lebanon, Virginia -- to establish a branch at 148 Cold Creek Drive, Morristown, Tennessee.
- Approved, June 4, 2025
Bank of Clarke, Berryville, Virginia -- to establish a branch at 1313 Dolley Madison Boulevard, McLean, Virginia.
- Approved, May 20, 2025
Burke and Herbert Bank and Trust Company, Alexandria, Virginia -- to establish a branch at the corner of Broad Street Road East (Route 250) and Wilkes Ridge Parkway South in Goochland County, Virginia.
- Approved, April 25, 2025
First Bank, Southern Pines, North Carolina -- to establish a branch at 11324 North Community House Road, Charlotte, North Carolina.
- Approved, April 7, 2025
Benchmark Community Bank, Kenbridge, Virginia -- to establish a branch at 105 South Main Street, Franklinton, North Carolina, and to increase its investment in bank premises.
- Approved, March 31, 2025
Atlantic Union Bank, Richmond, Virginia -- to establish a branch at 13794 Smoketown Road, Woodbridge, Virginia.
- Approved, March 5, 2025
Clear Mountain Bank, Inc., Bruceton Mills, West Virginia -- to establish a branch at 241 Middletown Loop, White Hall, West Virginia, and to increase its investment in bank premises.
- Approved, January 7, 2025
Bank Holding Companies
First Community Bancshares, Bluefield, Virginia -- (1) waiver of application to merge with Hometown Bankshares, Inc., and thereby indirectly acquire Union Bank, Inc. (UBI), both of Middlebourne, West Virginia, and (2) for UBI to merge with and into First Community Bank, Bluefield, Virginia, and thereby establish branches.
- Granted, November 6, 2025
Trustar Bankshares, Inc., McLean, Virginia -- to become a bank holding company through the acquisition of Trustar Bank, Great Falls, Virginia.
- Approved, October 9, 2025
Bancshares of Carolina, Inc., Manning, South Carolina -- to become a bank holding company by acquiring The Bank of Clarendon, Manning, South Carolina.
- Approved, August 25, 2025
Miners and Merchants Bancorp, Inc., Grundy, Virginia -- to acquire First Community Corporation and thereby indirectly acquire First Community Bank (FCB) of East Tennessee, both of Rogersville, Tennessee. Additionally, TruPoint Bank, Grundy, Virginia, to merge with FCB of East Tennessee and thereby operate FCB of East Tennessee's branches.
- Approved, July 31, 2025
Optus Financial Corporation (formerly known as SCCB Financial Corporation), Columbia, South Carolina -- relief from a commitment.
- Granted, July 18, 2025
Freedom Bancshares, Inc., Belington, West Virginia -- waiver of application to acquire Appalachian Financial Corporation and thereby indirectly acquire BCBank, Inc. (BCBK), both of Philippi, West Virginia, in connection with the merger of BCBK with and into Freedom Bank, Inc., Belington, West Virginia.
- Granted, February 12, 2025
Atlantic Union Bankshares Corporation, Glen Allen, Virginia -- (1) to acquire Sandy Spring Bancorp, Inc., and thereby indirectly acquire Sandy Spring Bank, both of Olney, Maryland, and (2) for Atlantic Union Bank, Richmond, Virginia, to merge with Sandy Spring Bank and operate Sandy Spring Bank's branches.
- Approved, January 13, 2025
Bank Premises
Benchmark Community Bank, Kenbridge, Virginia -- to increase its investment in bank premises.
- Approved, September 2, 2025
The Farmers Bank of Appomattox, Appomattox, Virginia -- to increase its investment in bank premises.
- Approved, April 25, 2025
First Sentinel Bank, Richlands, Virginia -- to increase its investment in bank premises.
- Approved, February 12, 2025
Putnam County Bank, Hurricane, West Virginia -- to increase its investment in bank premises.
- Approved, January 14, 2025
Change In Bank Control
Freedom Bancshares, Inc., Belington, West Virginia -- The Craig G. Phillips Revocable Trust, sole trustee Craig G. Phillips, Buckhannon, West Virginia, to acquire voting shares of Freedom Bancshares, Inc., and thereby indirectly acquire voting shares of Freedom Bank, Inc., Belington, West Virginia.
- Permitted, February 10, 2025
Membership
Carter Bank & Trust, Martinsville, Virginia -- to become a member of the Federal Reserve System.
- Approved, October 1, 2025
Banks, State Member
Clear Mountain Bank, Bruceton Mills, West Virginia -- to make a public welfare investment.
- Approved, September 25, 2025
United Bank, Fairfax, Virginia -- to make a public welfare investment (two requests).
- Withdrawn, May 29, 2025
Financial Holding Companies
Carter Bankshares, Inc., Martinsville, Virginia -- election to become a financial holding company.
- Effective, October 27, 2025

Last Update: December 4, 2025