Banking

Banking Applications

 

bank building

A state member bank must file an application with this Reserve Bank to establish a de novo branch or new banking office.

The applicant should publish the required notice of branch application one time in the classified ad section under legal notices in a newspaper of general circulation where the bank's head office is located and where the proposed branch will be located. The notice should provide at least a 15-day comment period from the date of publication. After the notice has been published, the pages from each newspaper containing the notice along with a cover letter requesting permission to establish the branch, should be forwarded to:

Adam M. Drimer
Assistant Vice President
Federal Reserve Bank of Richmond
P. O. Box 27622
Richmond, VA 23261

The cover letter and newspaper notice should include the street address of the branch or a description of the physical location if a street address has not been assigned. It is essential that we receive the cover letter and newspaper notices within one week of publication or you may be required to republish the notice. In addition, you should request an affidavit of publication from each newspaper and forward to us upon receipt.

Generally, action on most branch applications will be effective three business days following the end of the public comment period unless there are supervisory issues or adverse comments received by this Reserve Bank. A branch application must also be filed with the appropriate State authority. A copy of this filing should be furnished to us along with your cover letter and copies of the newspaper notices. Questions relating to branch applications may be directed to Wayne Cox, Banking Applications Manager, at (804) 697-8219.

Contact Us

Richmond

Wayne Cox
Banking Applications Manager
(804) 697-8219

Travers Edwards
Financial Analyst
(804) 697-8222