The Federal Reserve Board of Governors and the Federal Reserve Bank of Richmond Board of Directors appointed the following for three-year terms as directors for the Baltimore and Charlotte offices, effective January 1, 2008:
Baltimore Board of Directors
William B. Grant — Chairman and CEO, First United Corp., and First United Bank and Trust, Oakland, Md., was appointed by the Richmond Board of Directors.
William R. Roberts — President, Verizon Maryland, Inc., Baltimore, Md., was reappointed by the Board of Governors.
Charlotte Board of Directors
David J. Zimmerman — President, Southern Shows, Inc., Charlotte, N.C., was appointed by the Board of Governors.
Claude C. Lilly — Dean, Clemson University, College of Business and Behavioral Science, Clemson, S.C., was reappointed by the Board of Governors.
Barry L. Slider — President and CEO, First South Bancorp, Inc., and First South Bank, Spartanburg, S.C., was reappointed by the Richmond Board of Directors.
The Boards of Directors of the Baltimore and Charlotte offices of the Federal Reserve Bank of Richmond each have seven members. A majority of each office's directors are appointed by the Boards of Directors of the Richmond Reserve Bank and the remainder by the Board of Governors of the Federal Reserve System.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.
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