RICHMOND, Va., Nov. 30 /PRNewswire/ -- The Fifth Federal Reserve
District member banks elected the following directors of the Federal
Reserve Bank of Richmond for three-year terms beginning Jan. 1, 2007:
Dwight V. Neese -- President, CEO and Director, Provident Community Bank,
National Association, Union, S.C. -- was elected a Class A director.
Kenneth R. Sparks-- President and CEO, Ken Sparks Associates, LLC,
Washington, D.C. -- was re-elected a Class B director.
Each Federal Reserve Bank has a nine-member board of directors. Three
Class A and three Class B directors are elected to three-year terms by the
stockholding member banks, and three Class C directors are appointed to
three- year terms by the Board of Governors of the Federal Reserve System.
Class A directors represent the stockholding member banks in each Federal
Reserve District. Class B and Class C directors represent the public and
are chosen with due consideration to the interests of agriculture,
commerce, industry, services, labor and consumers.
The Federal Reserve Bank of Richmond is one of 12 District Reserve
Banks that together with the Board of Governors in Washington, D.C., make
up the Federal Reserve System. The Richmond Fed serves the Fifth Federal
Reserve District, which encompasses the District of Columbia, Maryland,
North Carolina, South Carolina, Virginia, and most of West Virginia.
SOURCE Federal Reserve Bank of Richmond
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Related links:
http://www.richmondfed.org
CONTACT:
Laura Fortunato, FRB-Richmond, Media
Relations, of Federal Reserve Bank of Richmond, +1-804-697-8196
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