Alice Frazier of Bank of Charles Town Appointed to Federal Reserve of Richmond's Board of Directors

February 2, 2023
CHARLES TOWN, WV, February 2, 2023/PRNewswire/ (OTC:PTBS) – BCT-Bank of Charles Town, also known as The Community’s Bank, announced the recent news of Alice Frazier, BCT’s President and CEO, being appointed to the Board of Directors of the Federal Reserve Bank of Richmond. Her appointment term is 2023 through 2025.
Alice P. Frazier, President & CEO

“Being elected to serve on the Board of the Federal Reserve is a privilege and honor,” stated Frazier.  “I cherish the opportunity to represent the vital role local community banks play in promoting strong communities.”

Ms. Frazier will serve as a Class A Director, representing member banks within the jurisdiction of the Federal Reserve Bank of Richmond.   In addition to serving as President and CEO of BCT, Ms. Frazier also serves on the Potomac Bancshares, Inc. Board of Directors, the one holding company of BCT.  She further serves as a Director with the Loudoun County (Virginia) Economic Development Authority, on the Loudoun County Chamber of Commerce Board of Directors, on the West Virginia University-East Hospital Board of Directors, and on the Independent Community Banks of America (ICBA) Board of Directors where she currently serves as Chairwoman of Bank Operations and Payments Committee.  Ms. Frazier is also a past Chairman of the Virginia Association of Community Banks.

Including her current position with BCT, Ms. Frazier has more than 32 years of local banking experience, including service with Cardinal Financial Corporation as executive vice president and COO, BB&T as SVP/Area Executive in Loudoun County, and Middleburg Financial Corporation as CFO and COO, which is where Frazier began her banking career. Prior to that, she worked four years in public accounting with national and regional firms. 

A certified public accountant, Ms. Frazier is a graduate of the Stonier Graduate School of Banking and Radford University. In 2020, she was named Distinguished Alumni of Radford’s Davis College of Business and Economics. Ms. Frazier is a  resident of Leesburg, Virginia for over 19 years.

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About the Company

Founded in 1871, BCT - Bank of Charles Town, also known as The Community's Bank, is a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC:PTBS). With approximately $855 million in assets as of March 31, 2024, the Company conducts operations through its main office, an additional eight branch offices, and two loan production offices.  BCT’s offices are located in Jefferson and Berkeley Counties (WV), Washington County (MD), and Loudoun and Stafford Counties (VA). The Bank provides various banking products and services including free access to over 55,000 ATMs through the Allpoint® network plus an affiliation with Sheetz convenience stores.  The Bank provides convenient online and mobile banking for individuals, businesses, and local governments. The Bank also offers commercial lines and term loans, residential and commercial construction loans, commercial real estate loans, agricultural loans, and government contractor loans.  The Bank is also a Small Business Administration (SBA) Preferred Lender.  The Residential Lending division offers secondary market and portfolio mortgage loans, one-time close construction to perm loans, as well as home equity loans and lines of credit.  For over 70 years, BCT Wealth Advisors has provided trust services, growing into a premier financial management, investments, and estate services provider.  In 2023, American Banker selected BCT as a “Top 200 Community Bank,” an annual listing of the best performing banks in the United States with assets under $2 billion.  BCT was voted a “Best of the Best” winner in the 2023 Journal-News Readers’ Choice Awards in four  categories:  Bank, Mortgage Company, Loan Services, and Financial Planning.  In 2023, 2021, 2020, and 2019 the Bank was named a “Best Bank To Work For” by American Banker.

The Company's shares are quoted on the OTC Pink Sheet marketplace under the symbol "PTBS." For more information about Potomac Bancshares, Inc., and the Bank, please visit our website at