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

Bank Branches, Domestic

Putnam County Bank, Hurricane, West Virginia -- to establish a branch at 8026 Route 60 East, Barboursville, West Virginia.
- Approved, August 4, 2026

Coastal States Bank, Hilton Head Island, South Carolina -- to establish a branch at 268 West Coleman Street, Mount Pleasant, South Carolina.
- Approved, July 14, 2026

Select Bank, Forest, Virginia -- to establish a branch at 211 Central Park Avenue, Pinehurst, North Carolina.
- Approved, July 14, 2026

Bank of the Lowcountry, Walterboro, South Carolina -- to establish a branch at 186 Sea Island Parkway, Beaufort, South Carolina.
- Approved, June 5, 2026

Atlantic Union Bank, Richmond, Virginia -- to establish a branch at 4004 Boston Street, Baltimore, Maryland, and at 1000 Village Market Place, Morrisville, North Carolina.
- Approved, May 26, 2026

Farmers & Merchants Bank, Timberville, Virginia -- to establish a branch at 28 Blackwell Park Lane, Warrenton, Virginia.
- Approved, May 19, 2026

United Community Bank, Greenville, South Carolina -- to establish a branch at 2015 Blowing Rock Road, Boone, North Carolina.
- Approved, May 6, 2026

Carter Bank and Trust, Martinsville, Virginia -- to establish a branch at 301 North Main Street, [Greenville, South Carolina.]
- Approved, May 6, 2026

Benchmark Community Bank, Kenbridge, Virginia -- to establish a branch at 99 Bank Street, Boydton, Virginia.
- Approved, April 7, 2026

First Community Bank, Bluefield, Virginia -- to establish a branch at 243 Main Avenue, Pineville, West Virginia.
- Approved, February 27, 2026

First Bank, Strasburg, Virginia -- to establish a branch at 6701 Courthouse Landing Lane, Chesterfield, Virginia.
- Approved, January 14, 2026

Bank Holding Companies

Coastal Carolina Bancshares Inc., Myrtle Beach, South Carolina -- waiver of filing requirement under section 3 of the Bank Holding Company Act to merge with Beacon Holding Company Inc., and thereby indirectly acquire its subsidiary state nonmember bank, Beacon Community Bank, both of Mount Pleasant, South Carolina, in connection with the merger of Beacon Community Bank with and into Coastal Carolina National Bank, Myrtle Beach, South Carolina.
- Granted, August 3, 2026

United Community Banks, Inc., Greenville, South Carolina -- to acquire Peach State Bancshares, Inc., and thereby indirectly acquire Peach State Bank & Trust, both of Gainesville, Georgia, and for United Community Bank, Greenville, South Carolina, to merge with Peach State Bank & Trust and thereby operate its branches.
- Approved, July 2, 2026

BOC Financial Corporation, Ocean City, Maryland -- to become a bank holding company by acquiring Bank of Ocean City, Ocean City, Maryland.
- Approved, March 5, 2026

Bank Premises

Putnam County Bank, Hurricane, West Virginia -- to increase its investment in bank premises.
- Approved, May 13, 2026

Putnam County Bank, Hurricane, West Virginia -- to increase its investment in bank premises.
- Approved, January 12, 2026

Change In Bank Control

M&F Bancorp, Inc., Durham, North Carolina -- Exploration Capital Fund, L.P.; Exploration Capital General Partner, LLC; and Exploration Capital, LLC, all of Salt Lake City, Utah, and Stephen Gustin, Vineyard, Utah, to retain voting shares of M&F Bancorp, Inc., and thereby indirectly retain voting shares of Mechanics & Farmers Bank, Durham, North Carolina.
- Withdrawn, July 24, 2026

BayFirst Financial Corp., Saint Petersburg, Florida -- Kenneth R. Lehman, Fort Lauderdale, Florida, to acquire voting shares of BayFirst Financial Corp. and thereby indirectly acquire voting shares of BayFirst National Bank, Saint Petersburg, Florida.
- Permitted, June 26, 2026

Chesapeake Financial Shares, Inc., Kilmarnock, Virginia -- Molly D. McEvoy, Richmond, Virginia, to join the Monroe Family Control Group, a group acting in concert, to acquire voting shares of Chesapeake Financial Shares, Inc., and thereby indirectly acquire Chesapeake Bank, Kilmarnock, Virginia.
- Permitted, April 14, 2026

Membership

Bank of the Lowcountry, Walterboro, South Carolina -- to become a member of the Federal Reserve System.
- Approved, April 15, 2026

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Last Update: August 20, 2026