July 09, 2010

Written agreement with Commonwealth Bankshares and Bank of the Commonwealth

For immediate release

The Federal Reserve Board on Friday announced the execution of a Written Agreement by and among Commonwealth Bankshares, Inc., Norfolk, Virginia, a registered bank holding company, and its subsidiary bank, Bank of the Commonwealth, Norfolk, Virginia, a state-chartered member bank, the Federal Reserve Bank of Richmond, and the Virginia State Corporation Commission, Bureau of Financial Institutions.

A copy of the Written Agreement is attached.

Last Update: July 09, 2010