Elizabeth A. Duke took office as a Federal Reserve Board Governor on August 5, 2008, to fill an unexpired term ending January 31, 2012. Prior to her appointment to the Board, Ms. Duke was Senior Executive Vice President and Chief Operating Officer of TowneBank, a Virginia-based community bank. Prior to this, she was an Executive Vice President at Wachovia Bank, and an Executive Vice President at SouthTrust Bank. Earlier in her career, Ms. Duke was President and Chief Executive Officer of Bank of Tidewater, based in Virginia Beach, Virginia. Ms. Duke served on the Board of Directors of the American Bankers Association from 1999 to 2006, and served as its Chairman from 2004 to 2005. She also served on the Board of Directors and as President of the Virginia Bankers Association. From 1998 to 2000, Ms. Duke served on the Board of Directors of the Federal Reserve Bank of Richmond. She has also served as a member of the Fannie Mae National Advisory Council. Aside from her work in the banking industry, Ms. Duke has held many civic positions, including service on the boards of directors of the Virginia Council on Economic Education, the Hampton Roads Partnership, the Old Dominion University Foundation, and the Economics Club of Hampton Roads. She also served on the Virginia Legislative Subcommittee to Study Capital Access and Business Financing and served on the Board of Commissioners of the Norfolk Airport Authority. Ms. Duke, a Virginia native, was born in July 1952. She received her bachelor’s degree from the University of North Carolina at Chapel Hill and her M.B.A. from Old Dominion University. She is also a graduate of the Stonier Graduate School of Banking and the Virginia Bankers School of Bank Management.