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MEMPHIS, Tenn. — Susan S. Stephenson, co-chairman and president of Independent Bank in Memphis, has been appointed to fill the unexpired portion of a three-year term on the board of directors of the Memphis Branch of the Federal Reserve Bank of St. Louis. She is also chair of the board of directors of the Women's Foundation for a Greater Memphis, the board of governors of the Leadership Academy, and a member of the Baptist Women's Hospital Advisory Committee.
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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