For immediate release Jan. 3, 2001
FEDERAL RESERVE BANK OF ATLANTA NAMES WILLIAM G. SMITH JR. TO BOARD OF DIRECTORSWilliam G. Smith Jr., president and chief executive officer of Capital City Bank Group Inc. and chairman of the board of Capital City Bank, has been named to the Federal Reserve Bank of Atlanta?s board of directors. His term began Jan. 1, 2001, and runs through Dec. 31, 2003.
Smith has been affiliated with the Capital City Bank Group Inc. since 1978. He attended the Darlington School in Rome, Ga., and graduated in 1972 with the Faculty Medal for General Excellence. He received his bachelor of science degree from Florida State University in 1976.
Smith served as Federal Advisory Council representative for the Sixth District of the Federal Reserve System in 2000. He is also a former member of the board of directors of the Atlanta Fed?s Jacksonville Branch. In addition, he is a member of the board of directors for the Southeast Community Hospital, the Darlington School, the Florida State University Foundation, the Florida State University Athletic Board, and the City of Tallahassee Utility Commission. Smith is chair of the Economic Development Council, a past president of the Florida Bankers Association, and a past chair of Tallahassee Memorial Healthcare, the Tallahassee Area Chamber of Commerce, and the Florida State University alumni association.
Smith replaces D. Paul Jones Jr., chairman and chief executive officer of Compass Bancshares Inc., of Birmingham, Ala., on the Atlanta Fed?s board of directors. Jones served on the Atlanta Fed?s board from January 1994 until his most recent term expired on Dec. 31, 2000.
Each of the nation?s 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors represent national and state-chartered banks that are members of the Federal Reserve System. Three Class B directors are elected by these banks but represent commerce, industry, agriculture, labor and consumers. Three Class C directors represent the same broad array of public interests but are appointed by the Board of Governors in Washington, D.C.
The board of directors of the Federal Reserve Bank of Atlanta oversees the management of the bank's operations and recommends changes in the discount rate. Board members also contribute to the formulation of U.S. monetary policy through the economic information they provide the bank?s president.