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

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

District: 5 Federal Reserve Bank of: Richmond

Filings received during the week ending June 18, 2011

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 5
Federal Reserve Bank of: Richmond