Circular
New Members of Thrift Institutions Advisory Council
December 2, 2003
Circular No. 11557

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

In a press release, the Federal Reserve Board 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, NetBank, Alpharetta, Georgia; David H. Hancock, CEO, North American Savings Bank, Grandview, Missouri; and Roy M. Whitehead, President and CEO, Washington Federal Savings, Seattle, Washington.

Press release OFFSITE