Federal Reserve Bank of Richmond
From Wikipedia, the free encyclopedia
The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, Virginia, North Carolina, South Carolina and most of West Virginia. Branch offices are located in Baltimore, Maryland and Charlotte, North Carolina. Currently, the president is Jeffrey M. Lacker. The former president, J. Alfred Broaddus, retired in 2004.
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[edit] Building
The Federal Reserve Bank of Richmond has an aluminum facade and is one of the tallest buildings in the state. 49% of the building's total floor area is located underground. The Federal Reserve Bank of Richmond was designed by Minoru Yamasaki who also designed the World Trade Center twin towers.[1]
[edit] Economy
The Federal Reserve Bank of Richmond is the second-largest Federal Reserve Bank by assets held after the Federal Reserve Bank of New York as of November 2009.[2]
In April 2009, the Federal Reserve Bank of Richmond planned to lay off 55 workers, tied to the ongoing consolidation of its check processing to other plants in the federal banking system.[3]
[edit] Richmond Board of Directors
The following people are on the Richmond Board of Directors as of 2009:[4][5]
[edit] Class A
| Name | Title | Term Expires |
|---|---|---|
| Dwight V. Neese | Director, President, and Chief Executive Officer
Provident Community Bank and Provident Community Bancshares, Inc. |
2009 |
| Robert H. Gilliam, Jr. | President and Chief Executive Officer
The First National Bank of Altavista Altavista, Virginia |
2010 |
| Kelly S. King | Chief Executive Officer
BB&T Corporation Winston-Salem, North Carolina |
2011 |
[edit] Class B
| Name | Title | Term Expires |
|---|---|---|
| Kenneth R. Sparks | President and Chief Executive Officer
Ken Sparks Associates LLC White Stone, Virginia |
2009 |
| Patrick C. Graney, III | President
Petroleum Products, Inc. Belle, West Virginia |
2010 |
| Dana S. Boole | President and Chief Executive Officer
Community Affordable Housing Equity Corp. Raleigh, North Carolina |
2011 |
[edit] Class C
| Name | Title | Term Expires |
|---|---|---|
| Lemuel E. Lewis
(Chair) |
President
LocalWeather.com Suffolk, Virginia |
2009 |
| Margaret E. McDermid
(Deputy Chair) |
Senior Vice President and Chief Information Officer
Dominion Resources, Inc. Richmond, Virginia |
2010 |
| Linda D. Rabbitt | Chairman and Chief Executive Officer
Rand Construction Corporation Alexandria, Virginia |
2011 |
All terms expire on December 31.[5]
[edit] See also
- Federal Reserve Districts
- Federal Reserve Branches
- Federal Reserve Bank of Richmond Baltimore Branch Office
- Federal Reserve Bank of Richmond Charlotte Branch Office
- Federal Reserve System
- Federal Reserve Act
[edit] References
- ^ Federal Reserve Bank Building
- ^ Release Dates
- ^ "Winchester Homes, Federal Reserve cutting Maryland jobs". Baltimore Business Journal. Tuesday, February 17, 2009, 3:39pm. http://www.bizjournals.com/baltimore/stories/2009/02/16/daily8.html. Retrieved 2009-02-19.
- ^ "Sandy Spring elects Federal Reserve Bank director to board". Baltimore Business Journal. Monday, February 11, 2002. http://www.bizjournals.com/baltimore/stories/2002/02/11/daily5.html. Retrieved 2009-02-19.
- ^ a b "Directors of Federal Reserve Banks and Branches". The Federal Reserve. The Federal Reserve Board. February 5, 2009. http://www.federalreserve.gov/GeneralInfo/ListDirectors/default.cfm?WhichDistrict=13. Retrieved 2009-02-19.
[edit] External links
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