Federal Reserve Bank of Richmond Charlotte Branch explained

Federal Reserve Bank of Richmond Charlotte Branch
Coordinates:35.2229°N -80.8391°W
Building Type:Low-rise building
Architectural Style:Modern
Location:530 East Trade Street
Charlotte, North Carolina
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Management:or
Operator:or
Governing Body:-->
Height:66.37feet
Floor Count:5
Architect:Odell & Associates
Parking:On site (reserved)
Public Transit: Davidson Street
References:[1]

The Federal Reserve Bank of Richmond Charlotte Branch Office is one of the two Federal Reserve Bank of Richmond branch offices. Established in 1927, The Federal Reserve Bank of Richmond's Charlotte Branch is an operational and regional center for the Carolinas, including the nation's second largest financial center in Charlotte, North Carolina. They promote the safety and soundness of large bank holding companies headquartered in Charlotte.[2] They distribute currency and coin to financial institutions in our region and provide check adjustment services for the Federal Reserve System. Their public programs include forums and conferences, economic education outreach, tours and a speakers’ bureau.[3]

History

Established on December 1, 1927, the Charlotte Branch was located on the 20th floor of the First National Bank Building. It was setup to primarily serve the industrial Piedmont region of North and South Carolina; in its first full year of operation in 1928, the Charlotte Branch handled nearly 6.6 million checks worth almost $1.7 billion and received and shipped over $40 million in currency. On January 20, 1942, the Charlotte Branch relocated into a new three-story, ancient-style (a blending of Art Moderne, Art Deco, and Neoclassical architecture) building located at 401 South Tryon Street. In 1955-56, two stories were added to the building, as well as a rectangular rear extension. By 1970, the Charlotte Branch acquired an adjacent building and added a second-story enclosed walkway to link the buildings together.[4] [5]

In 1985, the Charlotte Branch moved to its third and current location at 530 East Trade Street. The five-story, modernist building, includes a three-story underground vault encased in steel used for currency storage and exchange. In 2009, check-processing operations at the Charlotte Branch were discontinued as the system was transferred to electronic check-clearing; leaving only currency storage, exchange, and shredding operations.[6]

Board of directors

The following people are on the board of directors as of 2024:[7]

Appointed by the Federal Reserve Bank

NameTitleTerm expires on
December 31
Samuel L. ErwinExecutive Vice President
First Horizon Bank
Greenville, South Carolina
2024
George Dean Johnson, IIIChief Executive Officer
Johnson Development Associates, Inc.
Spartanburg, South Carolina
2024
Dionne NelsonPresident and Chief Executive Officer
Laurel Street Residential
Charlotte, North Carolina
2025
Lori HudsonVice President and Chief Financial Officer
National Gypsum Company
Charlotte, North Carolina
2026

Appointed by the Board of Governors

NameTitleTerm expires on
December 31
Bernett William MazyckPresident and Chief Executive Officer
SC Assoc. for Community Economic Development
Charleston, South Carolina
2024
James F. Goodmon, Jr.President and Chief Operating Officer
Capitol Broadcasting Company
Raleigh, North Carolina
2025
Barbara MelvinPresident and Chief Executive Officer
South Carolina Ports Authority
Mount Pleasant, South Carolina
2026

Past members

See also

External links

Notes and References

  1. Web site: Federal Reserve Bank of Richmond Charlotte Branch . https://web.archive.org/web/20171209152728/https://www.emporis.com/buildings/233269/federal-reserve-bank-of-richmond-charlotte-branch-charlotte-nc-usa . dead . December 9, 2017 . Emporis . March 29, 2022.
  2. Web site: Charlotte – The Queen of Finance . Kurzeja . Paul . The Charlotte Museum of History . March 29, 2022.
  3. Web site: Locations:Charlotte Office. Visit Us. Federal Reserve Bank of Richmond. February 19, 2009.
  4. Web site: First National Bank Building . July 1, 2007 . Charlotte-Mecklenburg Historic Landmarks Commission . March 29, 2022.
  5. Web site: The Federal Reserve Bank Building . February 1, 1984 . Charlotte-Mecklenburg Historic Landmarks Commission . March 29, 2022.
  6. News: Inside the vault at the Charlotte Federal Reserve branch cash is still king . August 20, 2016 . . Charlotte, North Carolina . March 29, 2022.
  7. Web site: Federal Reserve Board - Federal Reserve Bank of Richmond . . March 11, 2024.
  8. Web site: Fed Economist to Lead Fifth District's Charlotte Branch. February 5, 2009. Press Release. Federal Reserve Bank of Richmond. 2009-02-19. https://web.archive.org/web/20090228073824/http://www.richmondfed.org/press_room/press_releases/about_us/2009/mmartin_20090205.cfm. February 28, 2009. dead.