FEDERAL RESERVE BANK
ANNOUNCES DIRECTOR ELECTIONS RESULTS, The Federal Reserve Bank of Kansas City announces the results of recent elections for two positions on the Bank's Board of Directors. Rick L. Smalley, CEO, Dickinson Financial Corp., Kansas City, Missouri, will serve a second three-year term as a Class A director, effective Jan. 1, 2006, representing Group 1 member banks. Group 1 includes member banks having a combined capital and surplus of $10 million and over. Dan L. Dillingham, CEO, Dillingham Insurance, Enid, Oklahoma, will serve a second term as a Class B director, effective Jan. 1, 2006, representing Group 2 member banks. Group 2 includes member banks having a combined capital and surplus of $2.5 million to $10 million. Also, the Board of Governors of the Federal Reserve System recently named the 2006 chairman and deputy chairman of the Federal Reserve Bank of Kansas City’s Board of Directors. Robert A. Funk, Chairman of the Board and CEO, Express Personnel Services International, Oklahoma City, Oklahoma, was renamed chairman. Lu M. Cordova, Chairman, CTEK Angels, Denver, Colorado, was named deputy chairman. The Reserve Bank's Board includes nine directors, six of whom are elected by the member banks in the seven states of the Tenth Federal Reserve District: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri. Three of the directors are appointed by the Federal Reserve Board in Washington, D.C., to represent the general public. Reserve Bank directors meet monthly to oversee the Bank's operations and policies, and to confer on economic and banking developments. Among directors' responsibilities is establishing the Bank's discount rate, subject to review and determination by the Federal Reserve Board. ###Return to
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