UNITED STATES OF AMERICA BEFORE THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D.C. STATE CORPORATION COMMISSION BUREAU OF FINANCIAL INSTITUTIONS RICHMOND, VIRGINIAWritten Agreement • July 9th, 2010 • Commonwealth Bankshares Inc • National commercial banks
WHEREAS, in recognition of their common goal to maintain the financial soundness of Commonwealth Bankshares, Inc., Norfolk, Virginia (“Commonwealth”), a registered bank holding company, and its subsidiary bank, Bank of the Commonwealth, Norfolk, Virginia (the “Bank”), a state-chartered bank that is a member of the Federal Reserve System, Commonwealth, the Bank, the Federal Reserve Bank of Richmond (the “Reserve Bank”), and the State Corporation Commission Bureau of Financial Institutions (the “Bureau”) have mutually agreed to enter into this Written Agreement (the “Agreement”); and
