The president of Raleigh-based First Citizens BancShares has been elected to the board of directors of the Federal Reserve Bank of Richmond.
The three-year term of Ed Willingham will begin Jan. 1. He will be one of three Class A directors, representing the banking industry, on the nine-member board.
The Federal Reserve Bank of Richmond is one of 12 district banks that make up the Federal Reserve System.
Willingham has been president of First Citizens BancShares and its subsidiary, First Citizens Bank, since Feb. 2009. He joined the bank in 1987.
Willingham has a bachelor's degree in economics from Davidson College and an MBA from UNC-Chapel Hill. He is a member of the N.C. Bankers Association's board of directors.
First Citizens has 435 branches in 17 states and Washington, D.C.