St. Louis Fed Welcomes New Members to Community Depository Institutions Advisory Council

ST. LOUIS – The Federal Reserve Bank of St. Louis has appointed five new members to its Community Depository Institutions Advisory Council (CDIAC), which meets twice a year to advise St. Louis Fed President James Bullard on the credit, banking and economic conditions facing their institutions and local communities.  The first meeting of 2016 was held March 7-8 in St. Louis.

Appointed to three-year terms ending in 2018 were: Kevin Beckemeyer, president and CEO, Legence Bank, Eldorado, Ill.; Shaun Burke, president and CEO, Guaranty Bank, Springfield, Mo.; Karen Harbin, president and CEO, Commonwealth Credit Union, Frankfort, Ky.; Charles Horton, president and CEO, Fidelity National Bank, West Memphis, Ark.; and Ann Cowley Wells, chair and co-CEO, Commonwealth Bank and Trust Company, Louisville, Ky.

Council members serve staggered terms and are senior executives of banks, thrift institutions and credit unions from across the Eighth District, which is comprised of the state of Arkansas, and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.

The new members take the places of outgoing members Betsy Flynn, president and CEO, Community Financial Services, Benton, Ky.; Greg Ikemire, president and CEO, Peoples State Bank, Newton, Ill.; Larry Myers, president and CEO, First Savings Bank, Clarksville, Ind.; Frank Padak, president, CEO and treasurer, Scott Credit Union, Collinsville, Ill. and Steve Stafford, president, First National Bank of Green Forest, Green Forest, Ark.

Glenn D. Barks, president and CEO of First Community Credit Union, Chesterfield, Mo., remains chairman of the 12-member group.

Other CDIAC members serving in 2016 are:

• Jeffrey Dean Agee, president and CEO, First Citizens National Bank, Dyersburg, Tenn.;
• John D. Haynes, Sr. , president and CEO, Farmers & Merchants Bank, Baldwyn, Miss.;
• Jeffrey L. Lynch, president and CEO, Eagle Bank and Trust, Little Rock, Ark.;
• Elizabeth G. McCoy, president and CEO, Planters Bank, Hopkinsville, Ky.;
• Dennis E. McIntosh, chairman of the board, president and CEO, Ozarks Federal Savings and Loan Association, Farmington, Mo.; and
• Eric R. Olinger, president of Freedom Bancorp, Huntingburg, Ind.

The Federal Reserve Board of Governors established its CDIAC in 2010 as a mechanism for community banks, thrift institutions, and credit unions (with assets of $10 billion or less) to provide input to the Board on the economy, lending conditions and other issues. Each of the Fed's District banks then established its own local advisory council, with one member chosen to serve on the Board’s CDIAC and to participate in meetings twice a year with the Federal Reserve Board in Washington, D.C.

For more information, see the CDIAC sites of the St. Louis Fed or the Federal Reserve Board of Governors. For a look at the evolution of CDIAC across the U.S. since 2010, see "The Community Depository Institutions Advisory Council’s Impact After Five Years," in the latest edition of the Federal Reserve's Community Banking Connections publication.