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

Bank Branches, Domestic
Farmers & Merchants Bank, Timberville, Virginia -- to establish a branch at 1738 Amherst Street, Winchester, Virginia.
- Approved, May 23, 2022
First Sentinel Bank, Richlands, Virginia -- to establish a branch at 968 West Main Street, Abingdon, Virginia.
- Approved, April 21, 2022
Bank Holding Companies
MVB Financial Corp., Fairmont, West Virginia -- to engage in nonbanking activities through the indirect acquisition/retention of securities in the following companies: Flexia Payments, LLC; MVB Technologies, LLC; and Intercoastal Mortgage, LLC.
- Approved, June 7, 2022
ODNB Financial Corporation, Tysons Corner, Virginia -- to become a bank holding company by acquiring Old Dominion National Bank, North Garden, Virginia.
- Approved, May 2, 2022
Citizens Bancshares Corporation, Olanta, South Carolina -- to acquire Sandhills Holding Company, Inc., and thereby indirectly acquire Sandhills Bank, both of North Myrtle Beach, South Carolina.
- Approved, April 28, 2022
BV Financial, Sparrows Point, Maryland -- First Manhattan Company and the First Manhattan Acquirer Group request relief from certain passivity commitments with respect to the former Delmarva Bancshares, Cambridge, Maryland.
- Approved, February 7, 2022
Lee Bankshares, Inc., Pennington Gap, Virginia -- to become a bank holding company by acquiring Lee Bank and Trust Company, Pennington Gap, Virginia.
- Approved, February 2, 2022
Bank Premises
Clear Mountain Bank, Inc., Bruceton Mills, West Virginia -- to increase its investment in bank premises.
- Approved, May 17, 2022
Benchmark Community Bank, Kenbridge, Virginia -- to increase its investment in bank premises.
- Approved, February 14, 2022
Change In Bank Control
Heritage Bancshares, Inc., White Hall, West Virginia -- James A. Boyers, individually and as a group acting in concert consisting of Elaine Boyers, J. Adam Boyers, Cortney Boyers, James Boyers Custodian for the benefit of certain minor children, Elisabeth Boyers, and Zachary K. Marsh, all of Fairmont, West Virginia, to retain voting shares of Heritage Bancshares, Inc., and thereby indirectly control First Exchange Bank, White Hall, West Virginia.
- Permitted, April 5, 2022
Optus Financial Corporation, Columbia, South Carolina -- Dominik Mjartan and Georgia M. Mjartan to acquire voting shares of Optus Financial Corporation and thereby indirectly control Optus Bank, Columbia, South Carolina.
- Permitted, February 16, 2022
Old Point Financial Corporation, Hampton, Virginia -- PL Capital, LLC, a limited liability company; Goodbody/PL Capital LLC, a limited liability company; Financial Edge Fund, L.P., a limited partnership; Financial Edge-Strategic Fund, L.P., a limited partnership; PL Capital/Focused Fund, L.P., a limited partnership; Goodbody/PL Capital, L.P., a limited partnership; PL Capital Advisors, LLC, a limited liability company; and Messrs. John William Palmer and Richard John Lashley, Naples, Florida, to acquire voting shares of Old Point Financial Corporation and thereby indirectly acquire voting shares of The Old National Bank of Phoebus, Hampton, Virginia.
- Permitted, January 26, 2022
Tri-County Bancorp, Inc., West Union, West Virginia -- the Carolyn E. Farr Trust, Harrisville, West Virginia; Scott A. Windom, as trustee, Cairo, West Virginia; William A. Farr, West Union, West Virginia; John C. Farr, Woodinville, Washington; Paul D. Farr, Little Hocking, Ohio; Lee Ann Farr, Frankfort, West Virginia; and Rodney C. Windom, Cairo, West Virginia; as a group to retain voting shares of Tri-County Bancorp, Inc., and thereby indirectly retain voting shares of West Union Bank, West Union, West Virginia.
- Permitted, January 11, 2022
Extensions Of Time
Lee Bankshares, Inc., Pennington Gap, Virginia -- extension to August 2, 2022, to become a bank holding company by acquiring Lee Bank and Trust Company, Pennington Gap, Virginia.
- Granted, April 21, 2022
International Operations
BankAmerica International Financial Corporation, San Francisco, California -- to amend its articles of association.
- Approved, May 2, 2022
Bank of America, National Association, Charlotte, North Carolina -- to extend the corporate existence of its Edge corporation subsidiary, BankAmerica International Financial Corporation, San Francisco, California.
- Approved, March 4, 2022
Savings and Loan Holding Companies
Piedmont Financial Holding Company, Winston-Salem, North Carolina -- to become a mutual holding company upon the conversion of Piedmont Federal Savings Bank, Winston-Salem, North Carolina, from a federal mutual savings bank to a federal stock savings bank.
- Approved, May 23, 2022

Last Update: June 23, 2022