The condition of the current banking and credit markets and the outlook for regional economies were among the key topics discussed at the inaugural meeting of the St. Louis Fed’s Community Depository Institutions Advisory Council (CDIAC) on March 1-2.
Twelve executives representing community banks, thrifts and credit unions from across the Eighth District met at the St. Louis Fed with President James Bullard to discuss the top issues currently facing community financial institutions and their customers.
Key findings from the St. Louis session will be included in a discussion with Federal Reserve Chairman Ben Bernanke when St. Louis Fed CDIAC Chairman Dennis M. Terry meets April 1 with the CDIAC leaders of the System’s 11 other District banks in Washington, D.C. for the first of two annual System-wide meetings.
“Community financial institutions are vital in creating and sustaining economic growth in our nation’s communities,” said Bullard when he announced the nomination of the 12 regional members to the council on Jan. 20. “As a key source of credit for small businesses, these institutions provide an important perspective on the relative health of the U.S. economy.”
The St. Louis Fed’s council will also meet twice a year. The next meeting is scheduled for Oct. 5-6, with the next System-wide meeting scheduled for Nov. 4.
Dennis M. Terry (council chairman) is president, CEO and director of First Clover Leaf Financial Corp. of Edwardsville, Ill. He has been president and CEO of First Clover Leaf Bank, FSB, since 2000. Previously, Terry served as president of Mark Twain Bank of Edwardsville, as well as its predecessor, Edwardsville National Bank and Trust Co.
Kirk P. Bailey is chairman, president and CEO of Magna Bank, based in Memphis. He is a founding director of Magna and has served on the bank’s board of directors since Magna’s inception in 1999.
Glenn D. Barks has served since 2001 as chief executive officer of First Community Credit Union, based in Chesterfield, Mo. He joined the company 25 years ago as executive vice president following a 12-year career in the savings and loan industry.
H. David Hale is chairman, president and CEO of Louisville-based First Capital Bank of Kentucky, which was founded in 1996. Previously, he served as chairman, president and CEO of Cumberland Federal Savings Bank in Louisville.
D. Keith Hefner has served as president and CEO of Citizens Bank & Trust Co. of Van Buren, Ark., since 2004 and has been with the bank since 1990. He also serves on the board of directors of the Arkansas Bankers Association.
Gary E. Metzger has served as chairman, president and CEO of Liberty Bank and Liberty Bancshares Inc. in Springfield, Mo., since 1995. Previously, Metzger was president of Southwest Bank in Springfield, and vice president at Southwest Bancshares Inc.
William J. Rissel has been the president and CEO of the Fort Knox Federal Credit Union in Radcliff, Ky., since 1991. During Rissel’s tenure as CEO, Fort Knox has been recognized as the “Best Credit Union in the Army,” and the National Association of Federal Credit Unions has named it Credit Union of the Year.
Mark A. Schroeder is the chairman and CEO of German American Bancorp, based in Jasper, Ind. Schroeder is a member of the board of directors for ICBA Bancard and the Indiana Department of Financial Institutions.
Gordon Waller has been president and CEO of First State Bank & Trust Company of Caruthersville, Mo., since 2004. He serves as a member of First State Bank’s board of directors and vice chairman of the First State Bancorp Community Development Corporation.
Larry T. Wilson is chairman, president and CEO of First Arkansas Bank & Trust, based in Jacksonville, Ark. He serves as a director of the Association of Military Banks of America, is a member of Team 21 for the American Bankers Association, and has held several positions with the Arkansas Bankers Association.
Vance Witt is chairman and CEO of BNA Bancshares and BNA Bank, based in New Albany, Miss., where he has worked for more than 40 years. He is a past chairman of the Mississippi Bankers Association.
Larry Ziglar is the president and CEO of First National Bank in Staunton, Ill., which he joined in 1976. He has been president of First Staunton Bancshares since 2002.
Additional CDIAC Information and Extended Member Biographies