RICHMOND, Va., Oct. 20 /PRNewswire-USNewswire/ -- The Fifth Federal Reserve District member banks elected the following directors of the Federal Reserve Bank of Richmond for three-year terms effective Jan. 1, 2011:
Alan L. Brill, president and chief executive officer of Capon Valley Bank, Wardensville, W.Va., was elected a Class A director.
Patrick C. Graney, III, Maxum East regional president, Maxum Petroleum, Belle, W.Va., was re-elected as a Class B director.
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.
SOURCE Federal Reserve Bank of Richmond