LITTLE ROCK, Ark. — The Federal Reserve Bank of St. Louis announced the following changes to its Little Rock Branch board of directors and its headquarters board.
- William C. Scholl, president of First Security Bancorp in Little Rock, has been appointed to a three-year term on the Federal Reserve Bank of St. Louis' Little Rock Branch board of directors. Scholl is also chairman of United Way of Pulaski County and a member of the boards of directors of the Metropolitan YMCA of Little Rock and Fifty for the Future.
- Cal McCastlain, partner of Pender & McCastlain P.A. in Little Rock, has been appointed to fill the unexpired portion of a three-year term that ends Dec. 31, 2008. He is past chairman and current director of the board of Arkansas Wheat Promotion Board, past president and current director of the Agricultural Council of Arkansas, and a member of the American Bar Association and the Arkansas Bar Association.
- C. Sam Walls, CEO of Arkansas Capital Corp. in Little Rock, has been reappointed to a three-year term on the Little Rock Branch board. Walls is also a member of the board of directors of Accelerate Arkansas and the Arkansas Good Roads Council and chairman of the Arkansas Economic Development Foundation.
- In addition, A. Rogers Yarnell, II, president of Yarnell Ice Cream Co. Inc., in Searcy, Ark., was re-elected to a three-year term on the Federal Reserve Bank of St. Louis' board of directors. Yarnell is also a member of the board of directors of the International Ice Cream Association (and a founding member of the Association's marketing council), and a member of the Harding University Council for Economic Education and the Searcy Chamber of Commerce.
With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, and provides payment services to financial institutions and the U.S. government.
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