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

Bank Branches, Domestic
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
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
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
Banks, State Member
United Bank, Fairfax, Virginia -- to make a public welfare investment (two requests).
- Withdrawn, May 29, 2025

Last Update: June 12, 2025