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Release Date: December 1, 2003

For immediate release

The Federal Reserve Board on Monday announced the names of four new members of its Thrift Institutions Advisory Council (TIAC) and designated a new President and Vice President of the Council for 2004.

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 Council President for 2004 is William J. Small, Chairman and CEO, First Federal Bank, Defiance, Ohio. The new Vice President is D. Tad Lowrey, Chairman, President, and CEO, Jackson Federal Bank, Brea, California.

The four new members, named for two-year terms beginning January 1, 2004 are:

H. Brent Beesley
Chairman and CEO
Heritage Bank
St. George, Utah

Douglas K. Freeman
Chairman and CEO
Alpharetta, Georgia

David H. Hancock
North American Savings Bank
Grandview, Missouri

Roy M. Whitehead
President and CEO
Washington Federal Savings
Seattle, Washington

Other TIAC members whose terms continue through 2004 are:

Michael J. Brown, Sr.
President and CEO
Harbor Federal Savings Bank
Ft. Pierce, Florida

Richard J. Driscoll
First Savings Bank, FSB
Arlington, Texas

Curtis L. Hage
Chairman and CEO
Home Federal Bank
Sioux Falls, South Dakota

Olan O. Jones, Jr.
President and CEO
Eastman Credit Union
Kingsport, Tennessee

Kirk Kordeleski
President and CEO
Bethpage Federal Credit Union
Bethpage, New York

George W. Nise
President and CEO
Beneficial Savings Bank
Philadelphia, Pennsylvania

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Last update: December 1, 2003