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 June 18, 2011

Filer Filing Type Filing Proposal End of Comment Period
ASB BANCORP, INC. * 3A1 ASB Bancorp, Inc., Asheville, North Carolina, to become a bank holding company upon the conversion of Asheville Savings Bank, S.S.B., Asheville, North Carolina, from a mutual to stock form of ownership.
Newspaper: Not available
Federal Register: 07/01/2011
Crescent Financial Bancshares, Inc. * 3A1 Crescent Financial Bancshares, Inc., Cary, North Carolina, to merge with Crescent Financial Corporation, Cary, North Carolina, and acquire control of Crescent State Bank, Cary, North Carolina. Crescent Financial Bancshares, Inc., a newly formed subsidiary of Crescent Financial Corporation, the holding company of Crescent State Bank, was formed for the purpose of reincorporating the holding company as a Delaware corporation.
Newspaper: 07/01/2011
Federal Register: 07/01/2011
XENITH BANK * 18C Xenith Bank, Richmond, Virginia, to acquire certain assets and assume certain liabilities of the Richmond, Virginia, branch office of Paragon Commercial Bank, Raleigh, North Carolina.
Newspaper: 07/09/2011
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
BANK OF FLOYD, FLOYD, VIRGINIA 355821 01/24/2011 05/04/2011 S Small Bank
CNB, CENTREVILLE, MARYLAND 933023 02/07/2011 05/19/2011 S Int Sm Bank
VIRGINIA HERITAGE BK, FAIRFAX, VIRGINIA 3374298 01/31/2011 05/16/2011 S Int Sm Bank


CRA Examinations scheduled for     Quarter of

Institution Location
NONE

* Subject to the provisions of the Community Reinvestment Act

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