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Release Date: December 11, 2002

For immediate release

The Federal Reserve Board on Wednesday announced the names of seven new members of its Thrift Institutions Advisory Council (TIAC) and designated a new President and Vice President of the Council for 2003.

The Council is an advisory group made up of twelve representatives from thrift institutions. The panel was established by the Board in 1980 and includes savings and loan, savings bank, and credit union representatives. The Council meets three times each year with the Board of Governors to discuss developments relating to thrift institutions, the housing industry, mortgage finance, and certain regulatory issues.

The new President of the Council for 2003 is Karen L. McCormick, President and CEO, First Federal Savings and Loan Association, Port Angeles, Washington. The new Vice President is William J. Small, Chairman and CEO, First Federal Bank, Defiance, Ohio.

The seven new members, named for two-year terms beginning January 1, 2003 are:
Michael J. Brown, Sr.
President and CEO
Harbor Federal Savings Bank
Ft. Pierce, FL
Richard J. Driscoll
First Savings Bank, FSB
Arlington, TX
Curtis L. Hage
Chairman and CEO
Home Federal Bank
Sioux Falls, SD
Olan O. Jones, Jr.
President and CEO
Eastman Credit Union
Kingsport, TN
D. Tad Lowrey
Chairman, President, and CEO
Jackson Federal Bank
Brea, CA
George W. Nise
President and CEO
Beneficial Savings Bank
Philadelphia, PA
Robert F. Stoico
Chairman, President, and CEO
Swansea, MA
Council members whose terms continue through 2003 are:
John B. Dicus
Capitol Federal Savings Bank
Topeka, KS
Karen L. McCormick
President and CEO
First Federal Savings and Loan Association
Port Angeles, WA
Kevin E. Pietrini
President and CEO
Queen City Federal Savings Bank
Virginia, MN
William J. Small
Chairman and CEO
First Federal Bank
Defiance, OH
David L. Vigren
President and CEO
ESL Federal Credit Union
Rochester, NY

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Last update: December 11, 2002