Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

District: 5
Federal Reserve Bank of: Richmond

Filings received during the week ending January 27, 2007

Filer Filing Type Filing Proposal End of Comment Period
BANK OF THE COMMONWEALTH * Branch Bank of the Commonwealth, Norfolk, Virginia, proposes to establish a branch at 5460 Wesleyan Drive, Virginia Beach, Virginia.
Newspaper: 02/02/2007
Federal Register: Not applicable
BB&T CORPORATION * 4c8 BB&T Corporation, Winston-Salem, North Carolina, to acquire 100% of the voting securities of Coastal Financial Corporation, Myrtle Beach, South Carolina, and thereby indirectly acquire Coastal Federal Bank, Myrtle Beach, South Carolina, and engage in operating a savings association, and indirectly acquire Coastal Planners Holding Corporation, Myrtle Beach, South Carolina, which is the holding company of Coastal Retirement, Estate & Tax Planners, Inc., Myrtle Beach, South Carolina, and engage in the activities of financial planning and tax preparation services, and indirectly acquire Coastal Federal Holding Corporation, Wilmington, Delaware, which is the holding company of Coastal Real Estate Investment Corporation, Sunset Beach, North Carolina, and engage in the activities of acquiring and servicing loans.
Newspaper: 02/09/2007
Federal Register: 02/23/2007
NEW PEOPLES BANK, INC. * Branch New Peoples Bank, Inc., Honaker, Virginia, proposes to establish a branch at the Southeast corner of Maine and Brick Street, Bramwell, West Virginia.
Newspaper: 02/06/2007
Federal Register: Not applicable


Availability of CRA Public Evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding
S = Satisfactory
NI = Needs to improve
SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.
 
Institution / Location
RSSD
ID
 
Exam Date
CRA
Public Date
CRA
Rating
Exam Method
NONE


CRA Examinations scheduled for     Quarter of

Institution Location
NONE

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco