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 30, 2021

Filer Filing Type Filing Proposal End of Comment Period
FIRST CITIZENS BANCSHARES, INC. 4c8 First Citizens Bancshares, Inc., Raleigh, North Carolina, through its subsidiary bank, First-Citizens Bank & Trust Company, both of Raleigh, North Carolina, to indirectly acquire voting shares of CIT Strategic Credit Partners Holdings, LLC, and CIT Northbridge Credit, LLC, both of New York, New York, and thereby engage in lending activities pursuant to section 225.28 (b) (1) of Regulation Y.
Newspaper: Not applicable
Federal Register: 02/22/2021
NEW REPUBLIC PARTNERS, INC. 4c8 New Republic Partners, Inc., Charlotte, North Carolina, to engage de novo in financial and investment advisory activities and agency transactional services through a newly-formed wholly-owned subsidiary, New Republic Securities, LLC, Charlotte, North Carolina, pursuant to Sections 225.28 (6) and (7) of Regulation Y.
Newspaper: Not applicable
Federal Register: 02/18/2021
SELECT BANK * 18C
* Branch
Select Bank, Forest, Virginia, to purchase certain assets and assume certain liabilities of New Republic Bank, Roanoke Rapids, North Carolina.
Newspaper: 02/22/2021
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 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