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Last Updated: 01/31/11

News Release

Chicago Fed Announces New Community Banking Advisory Council

CHICAGO - The Federal Reserve Bank of Chicago today announced the 12 new members of its Community Depository Institution Advisory Council (CDIAC).


Council members represent banks, thrifts and credit unions throughout the Seventh Federal Reserve District, which consists of most of Illinois, Indiana, Wisconsin, and Michigan, as well as Iowa. They will meet twice a year at the FRBC to discuss community banking issues such as local economic conditions, the state of small business lending, current banking conditions and state regulatory perspectives.
In addition the council chairperson, Barrie G. Christman, will be a member of a national CDIAC, which will meet in Washington with members of the Federal Reserve Board of Governors.

"I think these regional councils will be an additional tool to help us keep well informed about community banking in different regions of the United States," said Chicago Fed President Charles Evans.


All council members will serve staggered terms through 2013.  The first meeting of the Federal Reserve Bank of Chicago council is slated for March 18, 2011.  For more information about the CDIAC, log onto www.chicagofed.org/webpages/people/cdiac.cfm

The following is a list of the new CDIAC members: 


Micah R. Bartlett
President and Chief Executive Officer
Town and Country Bank, Springfield, IL


Barrie G. Christman
Chairman of the Board
Principal Bank, Des Moines, IA
Steven M. Eldred
President and Chief Executive Officer
First National Bank and Trust, Beloit, WI

William M.  Farrow, III
President and Chief Executive Officer
Urban Partnership Bank, Chicago, IL


David M. Findlay
Lake City Bank, Warsaw, IN


David W. Heeter
President and Chief Executive Officer
Mutual Bank, Muncie, IN


Sandra Jelinski
Chief Executive Officer
Lake Michigan CU, Grand Rapids, MI


Timothy G. Marshall
President, Chief Executive Oficer and Board Director
Bank of Ann Arbor, Ann Arbor, MI


Jeff Plagge
Northwest Financial Corp. Spencer, IA


Michael L. Scudder
President and Chief Executive Officer of First Midwest Bancorp, Inc. and
Vice Chairman of the Board of First Midwest Bank
First Midwest Bancorp, Inc., Itasca, IL


Catherine Tierney, President
President and Chief Executive Officer
Community First, Appleton, WI


Jean Trainor
President and Chief Executive Officer
Veridian CU, Waterloo, IA


Federal Reserve Bank of Chicago Background

The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.

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