Kansas City Fed announces director election results and appointments

January 7, 2021


FOR IMMEDIATE RELEASE

Jan. 7, 2021                                          

CONTACT: Victoria Rosengarten

                                                      

The Federal Reserve Bank of Kansas City announces director election results and appointments to fill seats on its headquarters office and branch boards of directors. All appointments are effective Jan. 1, 2021.

Kansas City Directors

At the Kansas City headquarters office, Patricia J. Minard, chairman, president and chief executive officer, Southwest National Bank, Wichita, Kan., was reelected 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. Minard has served on the headquarters office Board of Directors since 2018.

Ruben Alonso III, president, AltCap, Kansas City, Mo., was elected to a three-year term by Group 2 banks as a Class B director, representing the public. Mr. Alonso previously was a member of the Kansas City Fed’s Community Development Advisory Council.

Cassandra R. Savage, owner and member, The Savage Group, LLC, Lenexa, Kan., was elected to an unexpired portion of a three-year term by Group 1 banks as a Class B director, representing the public. Ms. Savage previously was a member of the Kansas City Fed’s Economic Advisory Council.

In addition, the Board of Governors of the Federal Reserve System appointed María Griego-Raby, president and principal, Contract Associates, Albuquerque, N.M., to a three-year term as a Class C director, representing the public. Ms. Griego-Raby previously was a member of the Kansas City Fed's Economic Advisory Council. The Board of Governors also designated Edmond Johnson, president and owner, Premier Manufacturing, Inc., Frederick, Colo., as the Kansas City Fed board of directors' chair for 2021 and designated as deputy chair Patrick A. Dujakovich, president, Greater Kansas City AFL-CIO, Kansas City, Mo.

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, 2021.

At the Denver Branch:

  • Rachel Gerlach, chief credit officer, Alpine Bank, Glenwood Springs, Colo., was appointed to serve a three year-term.
  • Jandel Allen-Davis, chief executive officer and president, Craig Hospital, Englewood, Colo., was appointed to serve an unexpired portion of a three-year term by the Board of Governors of the Federal Reserve System.

In addition, Navin Dimond, chief executive officer and chairman, Stonebridge Companies, Denver, Colo., was reappointed to serve a three-year term by the Board of Governors of the Federal Reserve System and designated Denver Branch board chair for 2021. Denver Branch directors represent Colorado, Wyoming and northern New Mexico.

At the Oklahoma City Brach:

  • Brady Sidwell, owner and principal, Sidwell Strategies, LLC, Enid, Okla., was reappointed to serve a three-year term.
  • Katrina Washington, owner, Stratos Realty Group, Oklahoma City, Okla., was reappointed to serve a three year-term by the Board of Governors of the Federal Reserve System.

In addition, Tina Patel, chief financial officer, Promise Hotels, LLC, Tulsa, Okla., was redesignated Oklahoma City Branch board chair for 2021.  Oklahoma City Branch directors represent the state of Oklahoma.

At the Omaha Branch:

  • Carmen Tapio, owner, president and chief executive officer, North End Teleservices, LLC, Omaha, Neb., was appointed to serve a three year-term by the Board of Governors of the Federal Reserve System.
  • Dwayne W. Sieck, commercial real estate executive, Omaha, Neb., was reappointed to serve a three-year term.

In addition, Kimberly A. Russel, chief executive officer, Russel Advisors, Lincoln, Neb., was redesignated Omaha Branch board chair for 2021.  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.

John B. Dicus, chairman, president and chief executive officer, Capitol Federal Financial, Topeka, Kan., was reappointed as the Kansas City Fed’s representative to the Federal Advisory Council for 2021.

More information on the role and structure of the Bank’s Board of Directors is available on the Kansas 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.