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Dec. 20, 2016

Fifth Federal Reserve District Board Appointments Announced

Richmond, Va.

The Fifth Federal Reserve District member banks elected the following individuals to the Board of Directors of the Federal Reserve Bank of Richmond for three-year terms effective January 1, 2017:

William A. Loving Jr., president and chief executive officer of Pendleton Community Bank, Franklin, West Virginia, was elected as a Class A director.

Ángel Cabrera, president of George Mason University, Fairfax, Virginia, was elected as a Class B director.

The Board of Governors of the Federal Reserve System and the Federal Reserve Bank of Richmond Board of Directors have appointed the following directors effective January 1, 2017:

Calvin G. Butler Jr., chief executive officer of Baltimore Gas and Electric Company, Baltimore, Maryland, was appointed by the Board of Governors to a two-year term on the Richmond board.

Margaret G. Lewis, retired president of HCA Capital Division, Richmond, Virginia, was reappointed by the Board of Governors to a three-year term on the Richmond board. 

Wayne A.I. Frederick, president of Howard University, Washington, D.C., was appointed by the Board of Governors to a three-year term on the Baltimore branch board.

Mary Ann Scully, chairman, president, and chief executive officer of Howard Bancorp, Ellicott City, Maryland, was reappointed by the Richmond Board of Directors to a three-year term on the Baltimore branch board.

Michelle A. Mapp, chief executive officer of South Carolina Community Loan Fund, Charleston, South Carolina, was appointed by the Board of Governors to a three-year term on the Charlotte branch board.

Michael D. Garcia, president of the pulp and paper division of Domtar, Fort Mill, South Carolina, was appointed by the Richmond Board of Directors to a two-year term on the Charlotte branch board.

R. Glenn Sherrill Jr., president and chief operating officer of SteelFab, Inc., Charlotte, North Carolina, was appointed by the Richmond Board of Directors to a one-year term on the Charlotte branch board.

Michael C. Crapps, president and chief executive officer of First Community Bank, Lexington, South Carolina, was reappointed by the Richmond Board of Directors to a three-year term on the Charlotte branch board.

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 boards of directors of the Baltimore and Charlotte branches of the Federal Reserve Bank of Richmond each have seven members. A majority of each branch’s directors are appointed by the Board of Directors of the Federal Reserve Bank of Richmond and the remainder by the Board of Governors of the Federal Reserve System.


The Board of Governors of the Federal Reserve System has appointed the chair and deputy chair of the Board of Directors of the Federal Reserve Bank of Richmond for 2017.

Margaret G. Lewis, retired president of HCA Capital Division, Richmond, Virginia, was appointed as chair for 2017. She has served as a Class C director since 2013.

Kathy J. Warden, corporate vice president and president of Northrop Grumman’s Mission Systems, Linthicum, Maryland, was appointed as deputy chair for 2017. She has served as a Class C director since 2015.

The boards of directors of the Federal Reserve Bank of Richmond’s Baltimore and Charlotte branches have elected chairs to serve one-year terms effective January 1, 2017.

Susan J. Ganz, chief executive officer of Lion Brothers Company, Inc., Owings Mill, Maryland, was elected chair of the Bank’s Baltimore branch. Ganz has served as a director since 2015.

Laura Y. Clark, chief executive officer of Renaissance West Community Initiative, Charlotte, North Carolina, was elected chair of the Bank’s Charlotte branch. Clark has served as a director since 2014.

The Federal Reserve Bank of Richmond also acknowledges the following directors who are completing their service on the Bank’s Richmond, Baltimore, and Charlotte boards and thanks them for their dedicated service:

Russell C. Lindner, executive chairman and chief executive officer of The Forge Company, Washington, D.C., who served on the Richmond board since 2011 and as its chair in 2015–2016.

C. Richard Miller Jr., president and chief executive officer of Woodsboro Bank, Woodsboro, Maryland, who served on the Richmond board since 2014.

Charles R. Patton, president and chief operating officer of Appalachian Power Company, Charleston, West Virginia, who served on the Richmond board since 2014.

Samuel L. Ross, chief executive officer of Bon Secours Baltimore Health System, Baltimore, Maryland, who served on the Baltimore branch board since 2011 and as its chair in 2015–2016.

Elizabeth A. Fleming, past president of Converse College, Spartanburg, South Carolina, who served on the Charlotte branch board since 2013 and as its chair in 2015.

Paul E. Szurek, former chief financial officer of Biltmore Farms, LLC, Asheville, North Carolina, who served on the Charlotte branch board since 2013.


Richmond Fed Directors Appoint Federal Advisory Council Member

Directors of the Federal Reserve Bank of Richmond have appointed Brian T. Moynihan, president and chairman of the board of Bank of America, Charlotte, North Carolina, to serve a one-year term as the Fifth District representative on the Federal Advisory Council effective January 1, 2017.

The Federal Reserve Bank of Richmond also acknowledges Kelly S. King, chairman and chief executive officer of BB&T Corporation, Winston-Salem, North Carolina, who served as the Fifth District’s Federal Advisory Council representative since 2013 and thanks him for his dedicated service.

The Federal Advisory Council, composed of a representative from each of the 12 Federal Reserve Districts, confers periodically with the Board of Governors of the Federal Reserve System on business conditions and issues related to the banking industry. It also makes recommendations regarding System policies. Representatives are selected annually by the board of directors of each Reserve Bank.


As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District—including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia—to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

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