Application Types
The link provides a general description of the filing, the publication requirements, the form to be submitted, the processing time frame, and the relevant statutory factors associated with that type of proposal.
We handle requests from bank holding companies, state member banks, foreign organizations and individuals to form a bank holding company, acquire a bank or a controlling interest in a banking organization, engage in certain non-bank activities, merge with another bank or establish branches.
More than one-third of U.S. commercial banks are members of the Federal Reserve System. National banks must be members; state chartered banks may join by meeting certain requirements.
The link provides a general description of the filing, the publication requirements, the form to be submitted, the processing time frame, and the relevant statutory factors associated with that type of proposal.
A state member bank must file an application with this Reserve Bank and the appropriate State authority to establish a de novo branch or new banking office. The applicant should submit to the Reserve Bank: a cover letter that includes the street address of the branch or a description of the physical location if a street address has not been assigned; a copy of the newspaper notice; and a copy of the State filing. 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.
The Federal Reserve System offers a web-based application that allows banking institutions and their agents a secure method to submit applications via the Internet. This online process supplements the current paper-based submission process. Some of the benefits of electronic filing include:
For more information on electronic filing, including how to sign up and contact information, go to www.federalreserve.gov/supervisionreg/afi/afi.htm
Copies of banking applications may be requested from the Reserve Bank. Requests must be made in writing, via mail or by facsimile, or by e-mail. Please note a fee for copies may be charged. Requests should be forwarded to:
Ivy Carter
Federal Reserve Bank of Richmond
P. 0. Box 27622
Richmond, VA 23261
Fax: (804)697-4021
Phone: (804)697-8826
Mail:
Adam M. Drimer
Assistant Vice President
Federal Reserve Bank of Richmond
P.O. Box 27622
Richmond, VA 23261
Parcel Delivery:
Adam M. Drimer
Assistant Vice President
Federal Reserve Bank of Richmond
FRBR Warehouse
2050 Magnolia Street
Richmond, VA 23223
Parties wanting to comment on banking applications must submit their comments in writing, via mail, facsimile, or email. Comments must be received by the Reserve Bank on or before the last day of the public comment period. Comments should be forwarded to:
Adam M. Drimer
Assistant Vice President
Federal Reserve Bank of Richmond
P. 0. Box 27622
Richmond, VA 23261
Fax: (804)697-4021
comments.applications@rich.frb.org