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 July 1, 2017

Filer Filing Type Filing Proposal End of Comment Period
FIRST BANCORP * 3A5
* 18C
* Branch
First Bancorp, Southern Pines, North Carolina, to acquire 100% of the voting securities of ASB Bancorp, Inc., Asheville, North Carolina, and thereby indirectly acquire Asheville Savings Bank, SSB, Asheville, North Carolina. In addition, First Bank, Troy, North Carolina, to merge with Asheville Savings Bank, SSB, Asheville, North Carolina.
Newspaper: Not available
Federal Register: 07/24/2017
SANDY SPRING BANCORP, INC. 4c8
* 3A5
* 18C
* Branch
Sandy Spring Bancorp, Inc., Olney, Maryland, to acquire WashingtonFirst Bankshares, Inc., Reston, Virginia, and thereby indirectly acquire WashingtonFirst Bank, Reston, Virginia, pursuant to Sections 3 and 4 of the Bank Holding Company Act. Additionally, Sandy Spring Bank, Olney, Maryland, to merge with WashingtonFirst Bank, Reston, Virginia, and incident thereto establish branches.
Newspaper: Not available
Federal Register: Not available


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
CITIZENS B&TC, BLACKSTONE, VIRGINIA 991621 09/12/2016 06/27/2017 S Int Sm Bank
PEOPLES CMNTY BK, MONTROSS, VIRGINIA 947628 03/13/2017 06/27/2017 S Small Bank


CRA Examinations scheduled for     Quarter of

Institution Location Quarter
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