Minneapolis Fed adds two board members.

Byline: William Morris

A Minneapolis bank executive is leaving the board of the Federal Reserve Bank of Minneapolis, and a North Dakota bank president is taking her place.

Catherine Kelly, regional president of PNC Bank Financial Services Group, has served the maximum two terms on the board for the Fed's ninth district, which supervises banking operations and conducts economic research in an area comprising Montana, Minnesota, the Dakotas and parts of Wisconsin and Michigan. The Fed announced Tuesday that Brenda Foster of Minot, North Dakota, has been elected to fill her seat in its next term, beginning January 1, 2020.

Foster is chair, CEO and president of First Western Bank and Trust and fills one of three Class A seats on the board reserved for Fed member banking institutions. In a statement, she said she was honored by her election to the role.

"This is an opportunity to provide insight...