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 March 22, 2008

Filer Filing Type Filing Proposal End of Comment Period
ALLIANCE FINANCIAL CORPORATION * 3A1 Alliance Financial Corporation, Gastonia, North Carolina, to become a bank holding company by acquiring 100 percent of Alliance Bank & Trust Company, Gastonia, North Carolina.
Newspaper: Not available
Federal Register: Not available
FOUR OAKS BANK & TRUST COMPANY * Branch Four Oaks Bank and Trust Company, Four Oaks, North Carolina, proposes to establish a branch at 574 Village Court, Garner, North Carolina.
Newspaper: Not available
Federal Register: Not applicable
GATEWAY BANK & TRUST CO. * Branch Gateway Bank and Trust Co., Elizabeth City, North carolina, proposes to establish a branch located at 152 Capcom Avenue, Wake Forest, North Carolina.
Newspaper: 03/31/2008
Federal Register: Not applicable
HIGHLANDS UNION BANK * Branch Highlands Union Bank, Abingdon, Virginia, proposes to establish a branch location at 1824 Veterans Blvd., Sevierville, Tennessee.
Newspaper: 03/25/2008
Federal Register: Not applicable
NewDominion Financial Corporation, Inc. 3A1 NewDominion Financial Corporation, Inc., Charlotte, North Carolina, to acquire 100% of NewDominion Bank, Charlotte, North Carolina.
Newspaper: Not applicable
Federal Register: Not applicable
SECURITY ONE BANK CIC Mr. John R. Maxwell, Ashburn, Virginia, Ms. Jean M. Edelman, Fairfax, Virginia, Mr. Michael T. Foster, Arlington, Virginia, Mr. Subhash K. Garg, McLean, Virginia, Mr. Jonathan C. Kinney, Arlington, Virginia, Mr. O. Leland Mahan, Leesburg, Virginia, Mr. Lim P. Nguonly, Vienna, Virginia, Mr. Paul W. Bice, Ashburn, Virginia, Ms. Sonia N. Johnston, Herndon, Virginia, and Mr. William J. Ridenour, Clifton, Virginia, acting as a group to control up to 18.18% of the voting securities of Security One Bank, Falls Church, Virginia.
Newspaper: 04/02/2008
Federal Register: 04/07/2008
SELECT BANCORP, INC. * 3A1 Select Bancorp, Inc., Greenville, North Carolina, to become a bank holding company by acquiring 100% of Select Bank & Trust Company, Greenville, North Carolina.
Newspaper: Not available
Federal Register: 04/14/2008
VIRGINIA PARTNERS BANK Member
* Branch
Virginia Partners Bank, Fredericksburg, Virginia (in organization), to become a member of the Federal Reserve System and to establish two branches.
Newspaper: Not available
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

* 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