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Monarch CEO elected to Richmond Fed board of directors

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Brad E. Schwartz, the chief executive officer of Chesapeake-based Monarch Financial Holdings Inc. and Monarch Bank, has been elected to the board of directors of the Federal Reserve Bank of Richmond. 

He will serve a three-year term beginning this month.

Schwartz was elected as a Class A director representing bankers from the Fifth Federal Reserve District, which in addition to Virginia includes Maryland, the District of Columbia, North Carolina, South Carolina and most of West Virginia.

The Federal Reserve Bank of Richmond has a nine-member board of directors.

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