2011 Annual Report, Boards of Directors and Advisory Councils

The Federal Reserve Bank of Richmond | 2011 Annual Report

BOARDS OF DIRECTORS, ADVISORY COUNCILS, AND OFFICERS

Federal Reserve Bank of Richmond Community Depository Institutions Board of Directors Advisory Council The Bank’s board of directors oversees the management Created in 2011, the Bank’s Community Depository of the Bank and its FifthD istrict offices, provides timely Institutions Advisory Council advises the Bank’s man- business and economic information, participates in the agement and the Board of Governors on the economy, formulation of national monetary and credit policies, lending conditions, and other issues from the perspec- and serves as a link between the Federal Reserve System tive of banks, thrifts, and credit unions with total and the private sector. The board also appoints the assets under $10 billion. The council’s members are Bank’s president and first vice president, with approval appointed by the Bank’s president. from the Federal Reserve Board of Governors. Six directors are elected by banks in the FifthD istrict that Community Investment Council are members of the Federal Reserve System, and three Established in 2011, the Community Investment are appointed by the Board of Governors. Council advises the Bank’s management about emerg- ing issues and trends in communities across the Fifth The Bank’s board of directors annually appoints the Fifth District, including low- and moderate-income neigh- District’s representative to the Federal Advisory Council, borhoods in urban and rural areas. The council’s which consists of one member from each of the 12 members are appointed by the Bank’s president. Federal Reserve Districts. The council meets four times a year with the Board of Governors to consult on business Payments Advisory Council conditions and issues related to the banking industry. Created in 1978, the Payments Advisory Council serves as a forum for communication with financial Baltimore and Charlotte Branches institutions about financial services provided by the Boards of Directors Federal Reserve. The council helps the Bank respond The Bank’s Baltimore andC harlotte branches have to the evolving needs of its banking constituency. separate boards that oversee operations at their Council members are appointed by the Bank’s first respective locations and, like our Richmond Board, vice president. contribute to policymaking and provide timely business and economic information about the District. Listings include members who served during 2011. Four directors on each of these boards are appointed by the Richmond directors, and three are appointed by the Board of Governors.

THANK YOU We are grateful to our boards of directors for their guidance, leadership, expertise, and integrity. Their insight into regional and national economic conditions is essential to our work as a policy leader, and their vision will help us continue to support the economic recovery in the FifthD istrict and across the nation.

Thank you to those directors who have completed their service on our boards:D ana S. Boole and Kelly S. King of the Richmond Board; Biana J. Arentz of the Baltimore Board; Ronald Blackwell, who served as chairman of the Baltimore Board; and Linda L. Dolny and James H. Speed, Jr., of the Charlotte Board.

We also welcome our new directors: Marshall O. Larsen and Edward L. Willingham, IV, of the Richmond Board; Stephen R. Sleigh and Jana Wheatley of the Baltimore Board; and Claude Z. Demby and Christopher J. Estes of the Charlotte Board. The Federal Reserve Bank of Richmond | 2011 Annual Report

BOARD OF DIRECTORS | FEDERAL RESERVE BANK OF RICHMOND

Left to right: Margaret E. McDermid, Kelly S. King, Dana S. Boole, Russell C. Lindner, Linda D. Rabbitt, Alan L. Brill, Patrick C. Graney, III, Richard J. Morgan, Wilbur E. Johnson

CHAIRMAN Patrick C. Graney, III Margaret E. McDermid Maxum East Regional President Senior Vice President and Maxum Petroleum Chief Information Officer Belle, West Virginia Dominion Resources, Inc. Richmond, Virginia Wilbur E. Johnson Managing Partner DEPUTY CHAIRMAN Young Clement Rivers, LLP FEDERAL ADVISORY COUNCIL REPRESENTATIVE Linda D. Rabbitt Charleston, South Carolina Chairman and Chief Executive Officer Richard D. Fairbank Rand Construction Corporation Kelly S. King Chairman and Chief Executive Officer Washington, D.C. Chief Executive Officer Capital One Financial Corporation BB&T Corporation McLean, Virginia Dana S. Boole Winston-Salem, North Carolina President and Chief Executive Officer Community Affordable Housing Russell C. Lindner Equity Corporation Chairman and Chief Executive Officer Raleigh, North Carolina The ForgeC ompany Washington, D.C. Alan L. Brill President and Chief Executive Officer Richard J. Morgan Capon Valley Bank President and Chief Executive Officer Wardensville, West Virginia CommerceFirst Bank Annapolis, Maryland The Federal Reserve Bank of Richmond | 2011 Annual Report

BOARD OF DIRECTORS | BALTIMORE BRANCH

Left to right: William B. Grant, Biana J. Arentz, Jenny G. Morgan, Ronald Blackwell, James T. Brady, Anita G. Newcomb, Samuel L. Ross

CHAIRMAN Jenny G. Morgan Ronald Blackwell President Chief Economist basys, inc. AFL-CIO Linthicum, Maryland Washington, D.C. Anita G. Newcomb Biana J. Arentz President and Managing Director President and Chief Executive Officer A.G. Newcomb & Company Hemingway’s, Inc. Columbia, Maryland Stevensville, Maryland Samuel L. Ross James T. Brady Chief Executive Officer Managing Director–Mid-Atlantic Bon Secours Baltimore Health System Ballantrae International, Ltd. Baltimore, Maryland Ijamsville, Maryland

William B. Grant Chairman, President and Chief Executive Officer First United Corporation and First United Bank & Trust Oakland, Maryland The Federal Reserve Bank of Richmond | 2011 Annual Report

BOARD OF DIRECTORS | CHARLOTTE BRANCH

Left to right: James H. Speed, Jr., Lucia Z. Griffith, Claude C. Lilly, Robert R. Hill, Jr., John S. Kreighbaum, Linda L. Dolny, David J. Zimmerman

CHAIRMAN John S. Kreighbaum Claude C. Lilly President and Chief Executive Officer Dean Carolina Premier Bank and College of Business and Premara Financial, Inc. Behavioral Science Charlotte, North Carolina Clemson University Clemson, South Carolina James H. Speed, Jr. President and Chief Executive Officer Linda L. Dolny North Carolina Mutual Former President Life Insurance Company PML Associates, Inc. Durham, North Carolina Greenwood, South Carolina David J. Zimmerman Lucia Z. Griffith President Chief Executive Officer and Principal Southern Shows, Inc. METRO Landmarks Charlotte, North Carolina Charlotte, North Carolina

Robert R. Hill, Jr. President and Chief Executive Officer SCBT Financial Corporation Columbia, South Carolina The Federal Reserve Bank of Richmond | 2011 Annual Report

COMMUNITY DEPOSITORY INSTITUTIONS ADVISORY COUNCIL

Left to right: Michael L. Middleton, Carl Ratcliff, F. Michael Nelson, Kim D. Saunders, F. Edward Broadwell, Jr., John Lane, R. Wayne Hall, Charles H. Majors, Jan Roche

CHAIRMAN R. Wayne Hall Jan Roche Charles H. Majors* President and Chief Executive Officer President and Chief Executive Officer Chairman and Chief Executive Officer First Federal Savings & Loan and State Department Federal Credit Union American National Bank and First Financial Holdings, Inc. Alexandria, Virginia American National Bankshares, Inc. Charleston, South Carolina Danville, Virginia Kim D. Saunders John Lane President and Chief Executive Officer G. William Beale President and Chief Executive Officer Mechanics & Farmers Bank President and Chief Executive Officer Congressional Bank Durham, North Carolina Union First Market Bank Bethesda, Maryland Ruther Glen, Virginia Gwen Thompson Michael L. Middleton President and Chief Executive Officer F. Edward Broadwell, Jr. Chairman and Chief Executive Officer Clover Community Bank and Chairman and Chief Executive Officer Community Bank of Tri-County Clover Community Bankshares, Inc. HomeTrust Bank Waldorf, Maryland Clover, South Carolina Asheville, North Carolina F. Michael Nelson Kathleen Walsh Carr President and Chief Executive Officer *In 2011, Charles H. Majors served as the Fifth District’s representative on the Community President Pleasants County Bank Depository Institutions Advisory Council at the Cardinal Bank/Washington St. Mary’s, West Virginia Federal Reserve Board of Governors. Washington, D.C. Carl Ratcliff President and Chief Executive Officer ABNB Federal Credit Union Chesapeake, Virginia The Federal Reserve Bank of Richmond | 2011 Annual Report

COMMUNITY INVESTMENT COUNCIL

Left to right: Marlo Scruggs, R. Scott Woods, Samuel L. Erwin, Jane Henderson, Chris Kukla, Mike Franklin, Clarence J. Snuggs

CHAIRMAN Chris Kukla Mark Sissman Jane Henderson Senior Counsel for Government Affairs President President and Chief Executive Officer Center for Responsible Lending Healthy Neighborhoods, Inc. Virginia Community Capital Durham, North Carolina Baltimore, Maryland Christiansburg, Virginia Barbara B. Lang Clarence J. Snuggs Samuel L. Erwin President and Chief Executive Officer Deputy Secretary President and Chief Executive Officer DC Chamber of Commerce Maryland Department of Housing The Palmetto Bank and Washington, D.C. and Community Development Palmetto Bancshares, Inc. Crownsville, Maryland Greenville, South Carolina Sandra Mikush Deputy Director R. Scott Woods Mike Franklin Mary Reynolds Babcock Foundation President and Chief Executive Officer Owner Winston-Salem, North Carolina South Carolina Federal Credit Union Franklin’s Brewery North Charleston, South Carolina Hyattsville, Maryland Connie G. Nyholm Co-owner and Managing Partner Jonathan Gueverra VIRginia International Raceway Chief Executive Officer Alton, Virginia University of the District of Columbia Community College Marlo Scruggs Washington, D.C. Vice President, Community Development Specialist BB&T Corporation Charleston, West Virginia The Federal Reserve Bank of Richmond | 2011 Annual Report

PAYMENTS ADVISORY COUNCIL

Left to right: Scott Jennings, E. Stephen Lilly, Kenneth L. Greear, Kenneth L. Richey, David Willis, Eileen M. Pirson, Rex Hockemeyer, Wanda S. Shade, Ronald L. Bowling

Chairman Daniel O. Cook, Jr. James Evans Martin W. Patterson Executive Vice President and Executive Vice President, Senior Vice President, Banking Operations Chief Operating Officer Deposit Operations SunTrust Banks Arthur State Bank Capital One Bank Richmond, Virginia Union, South Carolina Richmond, Virginia

Ronald L. Bowling Valerie Curtis Gerry Felton President and Chief Executive Officer Vice President, Member Services Director, Bank Operations Services First Peoples Bank Coastal Federal Credit Union RBC Centura Bank Mullens, West Virginia Raleigh, North Carolina Rocky Mount, North Carolina

Tanya A. Butts Jeff W. Dick Robert J. Gerth Executive Vice President and President and Chief Executive Officer Group Vice President, Central Operations Chief Operating Officer MainStreet Bank M&T Bank The South Financial Group Herndon, Virginia Baltimore, Maryland Lexington, South Carolina Tim Dillow Tina Giorgio Mitch Christensen Senior Vice President Senior Vice President Executive Vice President, BB&T Corporation Sandy Spring Bank Enterprise Payments Strategy Wilson, North Carolina Columbia, Maryland Wells Fargo & Company Scottsdale, Arizona Debra E. Droppleman Kenneth L. Greear Chief Financial Officer Executive Vice President R. Lee Clark Fairmont Federal Credit Union United Bank Executive Vice President, Operations Fairmont, West Virginia Charleston, West Virginia TowneBank Suffolk, Virginia Rodney Epps Leton Harding Senior Vice President and Executive Vice President Chief Operating Officer The First Bank & TrustC ompany Industrial Bank of Washington Abingdon, Virginia Washington, D.C. The Federal Reserve Bank of Richmond | 2011 Annual Report

PAYMENTS ADVISORY COUNCIL

Left to right: Jeff W. Dick, Tim Dillow, Susan Haschen, Rick Rhoads, D. Gerald Sink, Gayle Youngblood, David Hines, Martin W. Patterson, Valerie Curtis

Susan Haschen Marie B. LaQuerre John Russ Vice President, Operations Senior Vice President President and Chief Executive Officer Easton Bancorp, Inc. Bank of America Community FirstBank of Charleston Easton, Maryland Charlotte, North Carolina Charleston, South Carolina

David Hines E. Stephen Lilly Wanda S. Shade Senior Vice President and Cashier Senior Vice President and Senior Vice President, Retail Banking Community Bank of Parkersburg Chief Operating Officer Frederick County Bank Parkersburg, West Virginia First Community Bancshares, Inc. Frederick, Maryland Bluefield,V irginia Rex Hockemeyer Woody Shuler Executive Vice President, Eileen M. Pirson Vice President, Finance Director of Operations and IT Group Vice President, Central SRP Federal Credit Union U nion First Market Bankshares Corporation Operations Administration North Augusta, South Carolina R uther Glen, Virginia M&T Bank Amherst, New York D. Gerald Sink Scott Jennings Senior Vice President Senior Vice President and Rick Rhoads NewBridge Bank Chief Operating Officer Senior Vice President, E-Services Lexington, North Carolina Summit Community Bank State Employees’ Credit Union Moorefield, West Virginia Raleigh, North Carolina David Willis Senior Vice President, John J. King Kenneth L. Richey Debit Card and Funds Services President Director, Corporate Cash Management Navy Federal Credit Union MACHA – The Mid-Atlantic Synovus Financial Corporation Vienna, Virginia Payments Association Columbia, South Carolina Hanover, Maryland Gayle Youngblood Senior Operations Manager State Employees Credit Union of Maryland Linthicum, Maryland