ST. LOUIS - St. Louis Fed President James Bullard today announced the appointments of 12 executives of smaller financial institutions to the Bank’s new Community Depository Institution Advisory Council (CDIAC).  The council, drawn from communities across the Eighth District, will meet twice a year at the St. Louis Fed to advise Bullard on local credit, banking and economic conditions.

The Eighth District includes the state of Arkansas, and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.

Dennis M. Terry, president and chief executive officer, First Clover Leaf Bank, Edwardsville, Ill., was named to a two-year term as the first chairman of the council.  As part of his responsibilities, Terry will also report twice yearly to the Federal Reserve Board of Governors in Washington, D.C.

Larry Ziglar, president, First National Bank in Staunton, Staunton, Ill., will serve a two-year term as a member of the council. 

“Community financial institutions are vital in creating and sustaining economic growth in our nation’s communities,” said Bullard. “As a key source of credit for small businesses, these institutions provide an important perspective on the relative health of the U.S. economy.  The 12 appointees to our council are leaders in their communities and bring with them a diverse range of backgrounds and experiences that will help us paint a more complete economic picture of our region. I greatly appreciate their willingness to serve in this key role for the St. Louis Fed and for the Federal Reserve System.”

The St. Louis Fed CDIAC council will hold its inaugural meeting March 1-2, 2011.  For more information, see the St. Louis Fed’s CDIAC site , or for more information about all of the Federal Reserve System CDIAC councils, see the Federal Reserve Board of Governors’ web site.

St. Louis Fed CDIAC Appointments/2

2011 St. Louis Fed Community Depository Institution Advisory Council

(Length of term in parentheses)

Dennis M. Terry | President & CEO, First Clover Leaf Bank FSB, Edwardsville, Ill. (Chair-2 years)

Kirk P. Bailey | CEO, Magna Bank, Memphis, Tenn. (1 year)

Glenn Barks | CEO, First Community Credit Union, Chesterfield, Mo.  (3 years)

H. David Hale | Chairman, President & CEO, First Capital Bank of Kentucky, Louisville, Ky.  (1 year)

D. Keith Hefner | President & CEO, Citizens Bank & Trust Company, Van Buren, Ark.   (2 years)

Gary E. Metzger | President, Liberty Bank, Springfield, Mo.   (3 years)

William J. Rissel | President  & CEO, Fort Knox Federal Credit Union, Radcliff, Ky. (2 years)

Mark A. Schroeder | Chairman & CEO, German American Bancorp, Jasper, Ind.  (1 year)

Gordon Waller | President & CEO, First State Bank & Trust, Caruthersville, Mo.  (3 years)

Larry T. Wilson | President & CEO, First Arkansas Bank & Trust, Jacksonville, Ark.  (1 year)

Vance Witt | CEO & Chairman, BNA Bank, New Albany, Miss.  (3 years)

Larry Ziglar | President, First National Bank in Staunton, Staunton, Ill.  (2 years)

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