Board of Directors
As required by the Federal Reserve Act of 1913, the St. Louis Fed is supervised by a board of directors. It is composed of three classes of directors (C, B and A) with three members in each class who are familiar with economic and credit conditions in our Eighth Federal Reserve District.
With branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn., the St. Louis Fed also has boards serving these offices. Like the head-office board members, they contribute to the Fed’s understanding of the economy. The Federal Reserve Board of Governors appoints some branch directors; the Reserve bank appoints the others.
All directors are selected for a three-year term of office and may serve two full terms.
St. Louis Fed Board of Directors
Class C
Class C directors are appointed by the Board of Governors of the Federal Reserve System to represent the public with consideration to the interests of agriculture, commerce, industry, services, labor and consumers.
-
Carolyn Chism Hardy, Chair
President and CEO, Chism Hardy Investments LLC and Hardy Beverages
Bartlett, Tenn.
(Term expiration: Dec. 31, 2025) -
Lal Karsanbhai, Deputy Chair
President and CEO, Emerson Electric Co.
St. Louis
(Term expiration: Dec. 31, 2027) -
Gregory A. Heckman
CEO, Bunge Global SA
St. Louis
(Term expiration: Dec. 31, 2026)
Class B
Class B directors are elected by member financial institutions in that district to represent the public with consideration to the interests of agriculture, commerce, industry, services, labor and consumers.
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R. Andrew Clyde
President and CEO, Murphy USA Inc.
El Dorado, Ark.
(Term expiration: Dec. 31, 2026) -
Penny Pennington
Managing Partner, Edward Jones
St. Louis
(Term expiration: Dec. 31, 2025) -
Michael Ugwueke
President and CEO, Methodist Le Bonheur Healthcare
Memphis, Tenn.
(Term expiration: Dec. 31, 2027)
Class A
Class A directors are elected by member financial institutions in that district to represent the member financial institutions. They are not permitted to take part in the selection of a Reserve bank’s president or first vice president, nor are they allowed to sit on search committees for those positions. They are prohibited from voting on or approving the selection, appointment or salaries of Reserve bank officers whose primary duties involve banking supervision. Class A directors are also prohibited from voting on or approving the portion of the Reserve bank budget allocated to the banking supervision function.
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Misty Borrowman
President and CEO, Bank of Hillsboro
Hillsboro, Ill.
(Term expiration: Dec. 31, 2027) -
Mardie R. Herndon Jr.
President and CEO, The Paducah Bank & Trust Co.
Paducah, Ky.
(Term expiration: Dec. 31, 2026) -
C. Mitchell Waycaster
CEO and Executive Vice Chairman, Renasant Bank
Tupelo, Miss.
(Term expiration: Dec. 31, 2025)
Little Rock Branch Board of Directors
-
Allison J. H. Thompson, Chair
President and CEO, Economic Development Alliance for Jefferson County, Arkansas
Pine Bluff, Ark.
(Term expiration: Dec. 31, 2025) -
Dan Binder
Senior Vice President and Global Treasurer, Walmart Inc.
Bentonville, Ark.
(Term expiration: Dec. 31, 2027) -
Elizabeth Burns Anderson
Senior Vice President, Farmers Bank & Trust
Magnolia, Ark.
(Term expiration: Dec. 31, 2027) -
Christopher B. Hegi
Director, First Financial Bank
El Dorado, Ark.
(Term expiration: Dec. 31, 2025) -
Denise Thomas
CEO, World Trade Center Arkansas, University of Arkansas
Rogers, Ark.
(Term expiration: Dec. 31, 2026) -
Darrin Williams
CEO, Southern Bancorp Inc.
Little Rock, Ark.
(Term expiration: Dec. 31, 2026)
Louisville Branch Board of Directors
-
Condrad Daniels, Chair
President, HJI Supply Chain Solutions
Louisville, Ky.
(Term expiration: Dec. 31, 2026) -
Dave W. Christopher Sr.
President, AMPED Louisville
Louisville, Ky.
(Term expiration: Dec. 31, 2027) -
James A. Hillebrand
Chairman and CEO, Stock Yards Bank & Trust
Louisville, Ky.
(Term expiration: Dec. 31, 2025) -
Ines M. Rivas-Hutchins
President, INTEC Group LLC
Paducah, Ky.
(Term expiration: Dec. 31, 2026) -
David E. Tatman
Assistant Plant Manager and Director of Engineering, Bendix Commercial Vehicle Systems
Bowling Green, Ky.
(Term expiration: Dec. 31, 2025) -
Carrie A. Warren
President, Bank of Buffalo
Hodgenville, Ky.
(Term expiration: Dec. 31, 2026)
Memphis Branch Board of Directors
-
Jeff Agee
Chairman and CEO, First Citizens National Bank
Dyersburg, Tenn.
(Term expiration: Dec. 31, 2026) -
Davy Carter
Regional President, Centennial Bank
Jonesboro, Ark.
(Term expiration: Dec. 31, 2025) -
Henry N. Reichle Jr.
President and CEO, Staple Cotton Cooperative Association (Staplcotn)
Greenwood, Miss.
(Term expiration: Dec. 31, 2026)
Eighth District Federal Advisory Council Representative
The Federal Advisory Council is composed of 12 representatives of the banking industry. It consults with and advises the Fed Board of Governors on all matters within the Board’s jurisdiction. Each year, the St. Louis Fed chooses one person to represent its District. Members customarily serve three one-year terms.
-
Jeffrey G. Ludwig
President, CEO and Vice Chairman,
Midland States Bancorp Inc.;
CEO, Midland States Bank
Effingham, Ill.
(Term expiration: Dec. 31, 2025)
Related Documents
Bylaws
View the Federal Reserve Bank of St. Louis Bylaws and the responsibilities of our directors in prescribing bylaws.
Committees
- St. Louis Fed Board of Directors Audit and Risk Committee Charter
- St. Louis Fed Board of Directors Governance and Operations Committee Charter
Director Procurement Policy
Our Director Procurement Policy addresses the role of directors in the St. Louis Fed’s procurement activities.
Eligibility
View the Federal Board of Governors website for eligibility, qualifications and policies governing Reserve bank boards of directors.
Guide to Conduct
Directors of Federal Reserve banks have a special obligation for maintaining the integrity, dignity, and reputation of the Federal Reserve System. View the St. Louis Fed’s guide to Director Conduct.
Minutes
Minutes from head-office Board of Directors meetings are posted in six-month increments (e.g., January-June meetings; July-December meetings). Minutes are posted biannually, approximately six months after the last increment covered.
| Period covered | Posted |
|---|---|
| January-June | Following January |
| July-December | Following July |