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Federal Reserve Bank of Richmond Charlotte Branch

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Coordinates: 35°13′22″N 80°50′21″W / 35.22288°N 80.83912°W / 35.22288; -80.83912
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Federal Reserve Bank of Richmond Charlotte Branch
Charlotte Branch in March 2024
Map
General information
TypeLow-rise building
Architectural styleModern
Location530 East Trade Street
Charlotte, North Carolina
Coordinates35°13′22″N 80°50′21″W / 35.22288°N 80.83912°W / 35.22288; -80.83912
Opened1985 (1985)
Height66.37 feet (20.23 m)
Technical details
Floor count5
Design and construction
Architect(s)Odell & Associates
Other information
ParkingOn site (reserved)
Public transit accessTram interchange 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

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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

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

Appointed by the Federal Reserve Bank

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Name Title Term expires on
December 31
Samuel L. Erwin Executive Vice President
First Horizon Bank
Greenville, South Carolina 		2024
George Dean Johnson, III Chief Executive Officer
Johnson Development Associates, Inc.
Spartanburg, South Carolina 		2024
Dionne Nelson President and Chief Executive Officer
Laurel Street Residential
Charlotte, North Carolina 		2025
Lori Hudson Vice President and Chief Financial Officer
National Gypsum Company
Charlotte, North Carolina 		2026

Appointed by the Board of Governors

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Name Title Term expires on
December 31
Bernett William Mazyck President 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 Melvin President and Chief Executive Officer
South Carolina Ports Authority
Mount Pleasant, South Carolina 		2026

Past members

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  • Jeff Kane, to retire on March 1, will be replaced by Matthew Martin
  • Matthew Martin, Senior Vice President and Charlotte Regional Executive[8]
  • Linda L. Dolny
  • James H. Speed, Jr.

See also

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References

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  1. ^ "Federal Reserve Bank of Richmond Charlotte Branch". Emporis. Archived from the original on December 9, 2017. Retrieved March 29, 2022.{{cite web}}: CS1 maint: unfit URL (link)
  2. ^ Kurzeja, Paul. "Charlotte – The Queen of Finance". The Charlotte Museum of History. Retrieved March 29, 2022.
  3. ^ "Locations:Charlotte Office". Visit Us. Federal Reserve Bank of Richmond. Retrieved February 19, 2009.
  4. ^ "First National Bank Building" (PDF). Charlotte-Mecklenburg Historic Landmarks Commission. July 1, 2007. Retrieved March 29, 2022.
  5. ^ "The Federal Reserve Bank Building" (PDF). Charlotte-Mecklenburg Historic Landmarks Commission. February 1, 1984. Retrieved March 29, 2022.
  6. ^ "Inside the vault at the Charlotte Federal Reserve branch cash is still king". Charlotte, North Carolina: WBTV. August 20, 2016. Retrieved March 29, 2022.
  7. ^ "Federal Reserve Board - Federal Reserve Bank of Richmond". The Federal Reserve. Retrieved March 11, 2024.
  8. ^ "Fed Economist to Lead Fifth District's Charlotte Branch". Press Release. Federal Reserve Bank of Richmond. February 5, 2009. Archived from the original on February 28, 2009. Retrieved 2009-02-19.
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