KANSAS CITY, MISSOURI - The Federal Reserve Bank of Kansas City announces 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, 2024.
Kansas City Directors
At the Kansas City headquarters office, External LinkSusan Chapman Plumb, board chair and chief executive officer, Local Bank, Hulbert, Okla., was elected to a three-year term by Group 1 banks as a Class A director, representing commercial banks that are members of the Federal Reserve System. Ms. Chapman Plumb previously served on the Oklahoma City Branch Board of Directors from 2017-2022.
External LinkRuben Alonso III, chief executive officer, AltCap, Kansas City, Mo., was reelected to serve a three-year term by Group 2 banks as a Class B director, representing the public.
In addition, the Board of Governors of the Federal Reserve System redesignated External LinkPatrick A. Dujakovich, president, Greater Kansas City AFL-CIO, Kansas City, Mo., as the Kansas City Fed board of directors chair for 2024.
The Board of Governors of the Federal Reserve System also designated External LinkJandel Allen-Davis, president and chief executive officer, Craig Hospital, Englewood, Colo., as deputy chair for 2024.
Members of the Federal Reserve Bank of Kansas City’s head office board of directors represent the Tenth Federal Reserve District which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
The Kansas City board consists of three directors who are elected by and represent 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 throughout the 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, 2024.
At the Denver Branch:
- External LinkRachel Gerlach, chief credit officer, Alpine Bank, Glenwood Springs, Colo., was reappointed 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 reappointed by the Board of Governors of the Federal Reserve System to serve a three-year term and was redesignated Denver Branch board chair for 2024. Denver Branch directors represent Colorado, Wyoming and northern New Mexico.
At the Oklahoma City Branch:
- External LinkBrady Sidwell, owner and principal, Sidwell Strategies, LLC, Enid, Okla., was reappointed to serve a three-year term by the Federal Reserve Bank of Kansas City’s head office board of directors.
- External LinkScott Case, president, Case & Associates Properties, Inc., Tulsa, Okla., was appointed to serve a three-year term by the Board of Governors of the Federal Reserve System.
In addition, External LinkDana S. Weber, chief executive officer and chair of the board, Webco Industries, Inc., Sand Springs, Okla., was designated Oklahoma City Branch board chair for 2024. Oklahoma City Branch directors represent the state of Oklahoma.
At the Omaha Branch:
- External LinkDJ Eihusen, president, chief executive officer and chair of the board, Chief Industries, Inc., Grand Island, Neb., 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 LinkCarmen Tapio, owner, president and chief executive officer, North End Teleservices, LLC, Omaha, Neb., was reappointed by the Board of Governors of the Federal Reserve System to serve a three-year term and was designated Omaha Branch board chair for 2024. Omaha Branch directors represent the state of Nebraska.
Federal Advisory Council Member
The Federal Advisory Council, comprised of twelve representatives of the banking industry, 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 2024.
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.
Media Contacts
Bill Medley: Bill.Medley@kc.frb.org
Victoria Rosengarten: Victoria.Rosengarten@kc.frb.org