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

Bank Branches, Domestic
First Bank, Southern Pines, North Carolina -- to establish branches at 315 North Academy Street, Cary, and 1830 North Broad Street, Fuquay-Varina (two applications).
- Approved, April 9, 2020
New Peoples Bank, Inc., Honaker, Virginia -- to establish a branch at 1999 East Stone Drive, Kingsport, Tennessee.
- Approved, April 8, 2020
The Freedom Bank of Virginia, Fairfax, Virginia -- to establish a branch at 10611 Balls Ford Road, Manassas.
- Approved, March 26, 2020
United Bank, Fairfax, Virginia -- to establish a branch at 8323 Sudley Road/Route 234, Manassas.
- Approved, March 24, 2020
Select Bank, Forest, Virginia -- to establish a branch at 1111 Greenville Avenue, Staunton.
- Approved, March 5, 2020
Atlantic Union Bank, Richmond, Virginia -- to establish a branch at 7100 Columbia Gateway Drive, Columbia, Maryland.
- Approved, February 27, 2020
Coastal Bank & Trust, Jacksonville, North Carolina -- to establish a branch at 4737 G Arandell Street, Morehead City.
- Approved, February 20, 2020
The First Bank and Trust Company, Lebanon, Virginia -- to establish a branch at 1101 Hisey Avenue, Woodstock, and increase its investment in bank premises.
- Approved, February 19, 2020
Farmers Bank, Windsor, Virginia -- to establish a branch at 1776 Princess Anne Road, Virginia Beach.
- Approved, January 15, 2020
First Sentinel Bank, Richlands, Virginia -- to establish a branch at 329 Ingleside Road, Princeton, West Virginia.
- Approved, January 8, 2020
Bank Holding Companies
The Bank of Southside Virginia Corporation, Carson, Virginia -- relief from certain commitments.
- Granted, May 14, 2020
Touchstone Bankshares, Inc., Prince George, Virginia -- to become a bank holding company through the acquisition of Touchstone Bank, Prince George.
- Approved, April 16, 2020
UB Bancorp, Greenville, North Carolina -- to become a bank holding company through the acquisition of Union Bank, Greenville.
- Approved, March 13, 2020
Citizens Financial Corp. Elkins, West Virginia -- to engage in consulting activities.
- Approved, February 3, 2020
Change In Bank Control
The Freedom Bank of Virginia, Fairfax, Virginia -- change in bank control of The Freedom Bank of Virginia.
- Permitted, May 6, 2020
Bank of America Corporation, Charlotte, North Carolina -- change in bank control of Bank of America and its subsidiaries, Bank of America, National Association, Charlotte; and Bank of America California, National Association, San Francisco, California.
- Permitted, April 20, 2020
Extensions Of Time
Sandy Spring Bank, Olney, Maryland -- extension to April 11, 2020, to merge with Revere Bank, Rockville.
- Granted, March 10, 2020
Chesapeake Bank, Kilmarnock, Virginia -- extension to August 21, 2020, to establish a branch at 10000 Courtview Lane, Chesterfield.
- Granted, January 29, 2020
Membership
Grundy National Bank (to be known as Legacy Bank), Grundy, Virginia -- to become a member of the Federal Reserve System.
- Approved, May 4, 2020
Bank of Oak Ridge, Oak Ridge, North Carolina -- to become a member of the Federal Reserve System.
- Approved, March 19, 2020

Last Update: May 21, 2020