The Federal Reserve Board has announced the appointment of four new members to its Community Depository Institutions Advisory Council (CDIAC). The Board also disclosed the names of the council president and vice president for 2024.
The CDIAC was established by the Board of Governors in 2010, as per information on the Federal Reserve Board website. This non-statutory body was created to provide input to the Board on various matters including the economy, lending conditions, and other issues impacting community depository institutions. The council convenes biannually with the Board in Washington, D.C.
A press release from the Board states that CDIAC members are representatives from banks, thrift institutions, and credit unions who serve on local advisory councils at each of the 12 Federal Reserve Banks. These members serve terms of three years. In 2024, these members will gather in Washington, D.C., on April 11 and November 14.
The same press release reveals that Chuck Sulerzyski, President and CEO of Peoples Bank, is set to serve as CDIAC president in 2024. Kim DeVore, President and CEO of Jonah Bank of Wyoming, will take up the role of vice president.
According to another statement from the Board's press release, four new CDIAC members have been selected. They include Ronald Justice, President and CEO of The State Bank in Fenton, Michigan; Agnes Catherine Ngo, Chairperson of Central Pacific Financial Corp. Central Pacific Bank in Honolulu, Hawaii; Jeffrey Stopko, President and CEO of AmeriServ Financial Inc. in Johnstown, Pennsylvania; and Anne Tangen, President and CEO of BankFive in Fall River, Massachusetts.