BOAR D O F GOVERNOR 5 

OF TH E 

FEDERAL RESERVE SYSTEM 

WASHINGTON , D. C. 2055 1 

ADDRESS OFFICIAL CORRESPONDENCE 

TO THE BOARD 

October 31, 2012 

Mr. Douglas A. Nunn 

Chief Executive Officer 

The Trust Company of Virginia 

9030 Stony Point Parkway 

Suite 300 

Richmond, Virginia 23235 

Dear Mr. Nunn: 

This is in response to the application by TCV Financial Corp. ("TCV Financial"), 

Richmond, Virginia, to deregister as a savings and loan holding company ("SLHC") pursuant to 

section 604(i) of the Dodd-Frank Act, 12 U.S.C. § 1467a(a)(l)(D)(ii)(II), and the Board's 

Regulation LL, 12 CFR 238.4(d). TCV Financial seeks to deregister based on the representation 

that its subsidiary federal savings association, The Trust Company of Virginia ("Trust 

Company"), Richmond, Virginia, qualifies as a trust-only company pursuant to 

section 2(c)(2)(D) of the Bank Holding Company Act, 12 U.S.C. § 1841(c)(2)(D). 

TCV Financial is an SLHC because it owns Trust Company. Trust Company is a 

limited-purpose savings association that serves as a trustee and custodian for its customers and 

provides investment advisory services. 

In connection with the application, TCV Financial and Trust Company have 

committed as follows: 

1. Trust Company will not, without the prior approval of the Board or its staff, engage in 

activities beyond those that are permissible under section 5(n) of the Home Owners' 

Loan Act, 12 U.S.C. § 1464(n), and its implementing regulations. 

2. Trust Company will hold at least 99 percent of its deposits in a trust or fiduciary 

capacity (excluding from the calculation the amount required to maintain deposit 

insurance from the Federal Deposit Insurance Corporation ("FDIC")). 

3. Trust Company does not maintain and will not accept demand deposits or deposits that 

the depositor may withdraw by check or similar means for payment to third parties or 

others. 

4. Trust Company does not and will not make commercial loans. 

5. Trust Company will not obtain payment or payment-related services from any Federal 
Reserve Bank and will not seek to exercise discount or borrowing privileges with the 

Federal Reserve. 

6. No affiliates of Trust Company will offer or market deposits of Trust Company that are 

insured by the FDIC. 

Based on the foregoing and all the facts of record, including the most recent call 

report and report of examination of Trust Company and consultation with the Office of the 

Comptroller of the Currency, Trust Company's primary federal regulator, the General Counsel 

and the Director of the Division of Banking Supervision and Regulation, acting pursuant to 

authority delegated by the Board, have approved the application by TCV Financial to deregister 

as an SLHC. This action is taken in reliance on all the facts of record, including all the 

representations and commitments made to the Board in connection with the application. Those 

representations and commitments constitute conditions imposed in writing in connection with the 

approval of TCV Financial's application to deregister as an SLHC and, as such, may be enforced 

in proceedings under applicable law. Any change in the representations or commitments may 

result in a different conclusion and should be reported to Board staff promptly. 

Sincerely yours, 

[signed] Robert deV. Frierson 

Secretary of the Board 

cc: Jennifer Burns, Senior Vice President 

Federal Reserve Bank of Richmond 

Office of the Comptroller of the Currency