The Federal Reserve Bank of Kansas City announced the following director election results and appointments to fill seats on its headquarters office and Branch boards of directors. All appointments are effective Jan. 1, 2023.
Kansas City Directors
At the Kansas City headquarters office, External LinkAlex Williams, chairman, chief executive officer and president, Halstead Bank, Halstead, Kan., was elected to a three-year term by Group 3 banks as a Class A director, representing commercial banks that are members of the Federal Reserve System.
External LinkRamin Cherafat, chief executive officer, McCownGordon Construction, Kansas City, Mo., was elected to serve the unexpired portion of a three-year term by Group 1 banks as a Class B director, representing the public.
External LinkPaul Maass, chief executive officer, Scoular, Omaha, Neb., was elected to serve a three-year term by Group 3 banks as a Class B director, representing the public. Mr. Maass has served on the Omaha Branch Board of Directors since 2022.
In addition, the Board of Governors of the Federal Reserve System reappointed External LinkPatrick A. Dujakovich, president, Greater Kansas City AFL-CIO, Kansas City, Mo., to a three-year term as a Class C director, representing the public. The Board of Governors also designated Mr. Dujakovich as the Kansas City Fed board of directors chair for 2023.
The Board of Governors of the Federal Reserve System appointed External LinkJandel Allen-Davis, president and chief executive officer, Craig Hospital, Englewood, Colo., to serve the unexpired portion of a three-year term as a Class C director, representing the public. Dr. Allen-Davis has served on the Denver Branch Board of Directors since 2021.
The Board of Governors also designated External LinkMaría Griego-Raby, president and principal, Contract Associates, Albuquerque, N.M., as deputy chair for 2023.
Members of the Federal Reserve Bank of Kansas City’s head office board of directors represent the Tenth Federal Reserve District: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
The Kansas City board consists of three directors who are bankers elected by commercial banks that are members of the Federal Reserve System, three who represent the public and are elected by member banks, and three who represent the public and are appointed by the Federal Reserve Board of Governors in Washington. The authority of a Reserve Bank’s board of directors is established by the Federal Reserve Act, which provides that the work of each Reserve Bank “shall be conducted under the supervision and control of a board of directors” and that directors “shall perform the duties usually appertaining to the office of directors of banking associations and all such duties as are prescribed by law.” Directors meet eleven times per year to confer on developments in their industries and the economy and to oversee the Bank’s operations and policies. The directors also are responsible for establishing the Bank’s discount rate, subject to review and determination by the Federal Reserve Board of Governors.
Branch Directors
Each branch office board comprises seven directors, four of whom are appointed by the Kansas City Board of Directors. The remaining three are appointed by the Board of Governors of the Federal Reserve System. Branch directors meet to confer on economic and financial developments and business conditions. The following appointments were made to the branch boards of directors, effective Jan. 1, 2023.
At the Denver Branch:
- External LinkDel Esparza, chief executive officer, Esparza Digital and Advertising, Albuquerque, N.M., was appointed to serve a three-year term by the Board of Governors of the Federal Reserve System.
- External LinkJohn J. Coyne III, chairman, chief executive officer and president, Big Horn Federal Savings Bank, Greybull, Wyo., was appointed to serve a three-year term by the Federal Reserve Bank of Kansas City’s head office board of directors.
In addition, External LinkNavin Dimond, founder and chief executive officer, Stonebridge Companies, Denver, Colo., was redesignated Denver Branch board chair for 2023. Denver Branch directors represent Colorado, Wyoming and northern New Mexico.
At the Oklahoma City Branch:
- External LinkMark Burrage, chief executive officer, FirstBank, Atoka, Okla., was appointed to serve a three-year term by the Federal Reserve Bank of Kansas City’s head office board of directors.
- External LinkTerry Salmon, president, Computer System Designers (CSD), Oklahoma City, Okla., was appointed to serve a three-year term by the Federal Reserve Bank of Kansas City’s head office board of directors.
- External LinkDana S. Weber, chief executive officer and chair of the board, Webco Industries, Inc., Sand Springs, Okla., was reappointed to serve two years of a three-year term by the Board of Governors of the Federal Reserve System.
In addition, External LinkKatrina Washington, owner, Stratos Realty Group and executive director, Neighborhood Housing Services Oklahoma, Oklahoma City, Okla., was redesignated Oklahoma City Branch board chair for 2023. Oklahoma City Branch directors represent the state of Oklahoma.
At the Omaha Branch:
- External LinkClark Lauritzen, chairman and president, First National Bank of Omaha, Omaha, Neb., was appointed to serve a three-year term.
- External LinkJoanne Li, chancellor, University of Nebraska at Omaha, Omaha, Neb., was appointed to serve the unexpired portion of a three-year term by the Board of Governors of the Federal Reserve System.
In addition, External LinkL. Javier Fernandez, president and chief executive officer, Omaha Public Power District, Omaha, Neb., was reappointed by the Board of Governors of the Federal Reserve System to serve a three-year term and was redesignated Omaha Branch board chair for 2023. Omaha Branch directors represent the state of Nebraska.
Federal Advisory Council Member
The Federal Advisory Council is established by the Federal Reserve Act and includes one representative from each Federal Reserve District. Members meet four times per year in Washington and consult with and advise the Federal Reserve Board of Governors on all matters under the Board’s jurisdiction.
External LinkJill Castilla, president and chief executive officer, Citizens Bank of Edmond, Edmond, Okla., was reappointed as the Kansas City Fed’s representative to the External LinkFederal Advisory Council for 2023.
More information on the role and structure of the Bank’s Board of Directors is available on the External LinkKansas City Fed’s website. As the regional headquarters of the nation’s central bank, the Kansas City Fed and its branch offices in Denver, Oklahoma City and Omaha serve the seven states of the Tenth District: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
View a PDF of the release PDFhere.