Paul J. Thompson
Paul Thompson, president and CEO of Country Club Bank in Kansas City, Mo., says he never has a typical day at work. He can be nurturing customer relationships one minute and have a meeting about the bank’s strategic vision the next.
“The favorite part of my job, however, is the opportunity to meet with customers and potential customers,” he said.
Thompson appreciates the challenges that community bankers face daily, and he wants to provide that perspective as a member of the Federal Reserve Bank of Kansas City’s Board of Directors.
“Through dialogue with customers, business leaders and bankers in the Tenth Federal Reserve District, I have had the privilege to witness firsthand the vital contribution community banks make each and every day to ensure the viability of the communities in which they serve,” he said.
Thompson grew up in a banking family, and he has spent his career in the industry. He has witnessed several cycles in the U.S. economy and substantial changes to the supervisory and regulatory framework in the banking industry.
He hopes to share what he has learned with President Esther George as she continues to influence monetary policy on the Federal Open Market Committee.
“I have a genuine interest in economics, a vested interest in the health of our economy, and I believe that our system of capitalism—properly regulated—has proven to be the best and most sustainable model for long-term economic growth,” he said.
Serving as a director, however, is more than sharing his own views, he said. Thompson wants to learn about other industries that influence both the regional and national economies.
“My father always instructed us to never stop learning, and hearing the perspectives of the Fed staff and my fellow Board directors certainly affords me that opportunity,” he said.
He also sees his time on the Board as an opportunity to give back to the banking industry, and, on a larger scale, to his community and country.
“The decentralized structure of the Federal Reserve System plays a vital role in arriving at a balanced and effective monetary policy because it allows for directors’ perspectives and influence from across the country not just from Washington or New York,” he said. “That I can be a voice in that chorus of voices is exciting and rewarding to me.”