|
FEDERAL RESERVE BANK
OF KANSAS CITY Bankers from Missouri and Oklahoma and two business leaders from Oklahoma are candidates for election to the Federal Reserve Bank of Kansas City's Board of Directors. In the first election, to fill the vacancy created by the retirement of Dennis E. Barrett, vice chairman of FirstBank Holding Company of Colorado, Lakewood, Colorado, Rick L. Smalley, president and CEO of Dickinson Financial Corp, Kansas City, Missouri, and Stanley R. White, president of Stillwater National Bank and Trust Company's Tulsa division, Tulsa, Oklahoma, have each been nominated by Group 1 member banks for a three-year term as a Class A director, effective Jan. 1, 2003. Group 1 banks consist of member banks having a combined capital and surplus of $10 million and over as of Sept. 25, 2002. In the second election, to fill the vacancy created by the retirement of Paula Marshall-Chapman, CEO of the Bama Companies, Inc. of Tulsa, Oklahoma, Cheryl McMurry Choumbakos, president, Emergent Technologies, Oklahoma L.P., Oklahoma City, Oklahoma, and Dan L. Dillingham, CEO of Dillingham Insurance and InServices, Inc., Enid, Oklahoma have each been nominated by Group 2 banks for a three-year term as a Class B director, effective Jan. 1, 2003. Group 2 banks consist of member banks having a combined capital and surplus of $2.5 million to $10 million as of Sept. 25, 2002. The balloting is done by mail and will end Nov. 19. The Board includes nine directors, six of whom are elected by member banks in the seven states of the Tenth Federal Reserve District. The remaining three directors are appointed by the Board of Governors of the Federal Reserve System in Washington, D.C. to represent the general public. Reserve Bank directors meet monthly to confer on economic and banking developments to advise the Bank on its operations and policies. Among the directors' responsibilities is establishing the Bank's discount rate, subject to review and determination by the Federal Reserve Board. ###
|