Press Release
New York Fed Announces Creation of Community Depository Institutions Advisory Council
March 4, 2011
NEW YORK—The Federal Reserve Bank of New York today announced the creation of a Community Depository Institutions Advisory Council (CDIAC) and the appointment of new members. Council members are representatives from commercial banks, thrift institutions and credit unions in the Second District. The purpose of the council is to provide information and insight to the New York Fed from the perspective of community depository institutions. The council will replace the New York Fed’s Thrift Institutions Advisory Panel.

The New York Fed president and first vice president will meet with the council twice a year to discuss regional economic and financial conditions, and other issues confronting community depository institutions.

Council members will generally serve three-year terms, which may be extended.

One member from the New York Fed’s council will also join counterparts from councils across the Federal Reserve System for twice yearly meetings of the Community Depository Institutions Advisory Council of the Federal Reserve Board of Governors in Washington, D.C. Peter G. Humphrey, president and chief executive officer of Five Star Bank and Financial Institutions, Inc., will serve as the representative from the Second District.

The newly appointed members of the New York Fed’s council are listed below:

Robert G. Allen
President and Chief Executive Officer
Teachers Federal Credit Union
Farmingville, New York
Michael J. Castellana
President and Chief Executive Officer
SEFCU
Albany, New York  
José Rafael Fernández
President, Chief Executive Officer and Vice Chairman
Oriental Bank and Trust and Oriental Financial Group
San Juan, Puerto Rico
Peter G. Humphrey
President and Chief Executive Officer
Five Star Bank and Financial Institutions Inc.
Warsaw, New York
Frank A. Kissel 
Chairman and Chief Executive Officer
Peapack-Gladstone Bank and Peapack-Gladstone Financial Corp.
Bedminster, New Jersey 

Mary D. Madden
President and Chief Executive Officer
Hudson Valley Federal Credit Union
Poughkeepsie, New York

Paul P. Mello 
President and Chief Executive Officer
Solvay Bank and Solvay Bancorp
Solvay, New York
Ross J. Prossner 
President and Chief Executive Officer
Beacon Federal and Beacon Federal Bankcorp
East Syracuse, New York
Thomas J. Shara
President and Chief Executive Officer
Lakeland Bank and Lakeland Bancorp, Inc.
Oak Ridge, New Jersey
George Strayton 
President and Chief Executive Officer
Provident Bank and Provident New York Bancorp
Montebello, New York
John F. Trentacosta
President and Chief Executive Officer
Newtown Savings Bank
Newtown, Connecticut

Contact:
Eric Pajonk
(212) 720-1735
(636) 720-1735
eric.pajonk@ny.frb.org

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