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 November 5, 2005

Filer Filing Type Filing Proposal End of Comment Period
CECIL BANCORP, INC. CIC Notice by Charles F. Sposato Flint Trust/trustee Mark Wayne Saunders, Elkton, Maryland, to control 33.68% of the voting shares of Cecil Bancorp, Inc., Elkton, Maryland.
Newspaper: 11/15/2005
Federal Register: 11/16/2005
GATEWAY FINANCIAL HOLDINGS, INC. * 3A3 Gateway Financial Holdings, Inc., Elizabeth City, North Carolina, to acquire up to 9.9% of the outstanding common stock of Commonwealth Bankshares, Inc., Norfolk, Virginia, and thereby indirectly acquire up to 9.9% of the shares of Bank of the Commonwealth, Norfolk, Virginia.
Newspaper: 11/24/2005
Federal Register: 11/29/2005
WACCAMAW BANK * Branch Waccamaw Bank, Whiteville, North Carolina, to establish a branch facility located at 306 South Poplar Street, Elizabethtown, North Carolina.
Newspaper: 11/16/2005
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