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 September 26, 2015

Filer Filing Type Filing Proposal End of Comment Period
ASB BANCORP, INC. CIC The Asheville Savings Bank, S.S.B. Employee Stock Ownership Plan, Asheville, North Carolina, and its trustee, Pentegra Trust Company Shelton, Connecticut, to retain control of 11.9% of ASB Bancorp, Inc., Asheville, North Carolina.
Newspaper: 10/06/2015
Federal Register: 10/08/2015
BB&T CORPORATION * 3A5 BB&T Corporation, Winston-Salem, North Carolina, to acquire 100% of the voting securities of National Penn Bancshares, Inc., Allentown, Pennsylvania, and thereby indirectly acquire National Penn Bank, Allentown, Pennsylvania.
Newspaper: Not available
Federal Register: 10/30/2015
FARMERS & MERCHANTS BANK * Branch Farmers & Merchants Bank, Timberville, Virginia, to establish a branch at 125 West Craig Street, Craigsville, Virginia.
Newspaper: 10/05/2015
Federal Register: Not applicable
FARMERS & MERCHANTS BANK * Branch Farmers & Merchants Bank, Timberville, Virginia, to establish a branch at Gosnell Crossing, Fishersville, Virginia.
Newspaper: 10/05/2015
Federal Register: Not applicable
FIRST BANK * Branch First Bank, Southern Pines, North Carolina, intends to open a new branch at 639 West 15th Street, Washington, North Carolina.
Newspaper: Not available
Federal Register: Not applicable
SANDY SPRING BANK * Branch Sandy Spring Bank, Olney, Maryland, to establish a branch at 1299 Pennsylvania Avenue NW, Washington, D.C.
Newspaper: Not available
Federal Register: Not applicable
UNION BANC CORP. 3A1 Union Banc Corp., Oxford, North Carolina, to become a bank holding company by acquiring 100% of the voting shares of Union Bank & Trust Company, Oxford, North Carolina.
Newspaper: Not applicable
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