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Jan. 6, 2014

William B. Grant Recognized for Richmond Fed Board Service

Richmond, Va.

William B. Grant, chairman of the board and CEO of First United Bank & Trust in Oakland, Md., was recently recognized by directors and officers of the Federal Reserve Bank of Richmond for completing two terms as a director with the Richmond Fed’s Baltimore branch.

Since 2008, Grant has attended monthly meetings of the Baltimore branch’s board of directors to offer economic information on the western Maryland and West Virginia economies. His reports were known for their detail and relevance, with Grant often researching unique perspectives and providing insights from banking colleagues and local business and tourism leaders.

“It has been a privilege to serve with Bill on our board and I have especially appreciated his detailed economic reports about the region throughout these challenging economic years,” said Jenny Morgan, chair of the Baltimore branch’s board and president and CEO of basys, inc. "I could count on Bill to share current, critical information on bank lending, energy and his beloved tourist destination in Deep Creek, along with other relevant data and projections, which deepened our understanding and broadened our collaboration in discussions of America’s economy. Garrett County and the surrounding regional areas are fortunate to have such a fervent champion of their economic interests."

Dave Beck, Richmond Fed senior vice president and Baltimore regional executive, said Grant brought valuable perspectives as a community banker during his six years on the board. “He provided us with real-time economic and financial assessments that are so valuable to the work we do at the Fed to help strengthen the economy and our communities. Bill also understands how invested community banks are in the people and the places where they’re located, and that came through in his dedicated service to our board,” Beck said.

Grant previously chaired the Maryland Bankers Association board of directors in 2005, served on and later chaired the American Bankers Association’s Community Bankers Council in 2011 and currently serves on the American Bankers Association’s board of directors.

In addition, Grant’s professional affiliations include serving as a past chairman of The Greater Cumberland Committee and his involvement with West Virginia Wesleyan College, the University System of Maryland Foundation, Leadership Maryland and other civic activities. Before becoming chairman and CEO of First United Bank & Trust of Oakland, he served as executive vice president for retail sales and headed the trust department at the bank, which serves four western Maryland counties and four contiguous West Virginia counties.

He is a graduate of West Virginia Wesleyan College and the Duquesne University School of Law. He also completed studies with the Northwestern Graduate Trust School and Stonier Graduate School of Banking. He is a certified financial planner.

The boards of directors of the Richmond Fed's Baltimore and Charlotte branch offices each have seven members. A majority of each branch's directors are appointed by the board of directors of the Richmond Fed and the remainder by the Board of Governors of the Federal Reserve System.

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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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