Richmond City Council honored the Richmond Fed on September 8 with a resolution “on the momentous and historic occasion” of the Bank’s centennial.

Richmond Fed President Jeffrey Lacker accepted the resolution from Council President Charles R. Samuels, who lauded the Bank as a respected business that has contributed much to the region over the past century. John Weinberg, senior vice president and director of research, accompanied Lacker to the event.

“More than 100 years ago, dedicated community leaders worked together to secure Richmond’s selection as a location for one of the 12 Reserve Banks. As we reflect on that selection, we know Richmond was the appropriate selection, then and now,” Lacker said.

The resolution states, “The Honorable Dwight C. Jones, Mayor of Richmond, and The Honorable Members of Richmond City Council, the governing body of Richmond, Virginia, in the United States of America, do hereby unite in solidarity and common purpose to recognize, honor and celebrate the Federal Reserve Bank of Richmond on the momentous and historic occasion of its 100th Anniversary.”

The resolution notes that on April 2, 1914, Richmond was one of 12 cities chosen as a location for a regional Reserve Bank. Incorporated on May 18, 1914, the Bank opened for business on November 16, 1914, at 1109 E. Main Street in downtown Richmond. The Richmond Fed opened branch offices in Baltimore in 1918 and Charlotte in 1927.