MINNEAPOLIS, June 1, 2011—The Federal Reserve Bank of Minneapolis has named Dorothy Bridges its senior vice president responsible for community development and outreach, effective July 29, 2011. Bridges, most recently president and CEO of City First Bank in Washington, D.C., served in the same role at Franklin National Bank in Minneapolis from 1999 to 2008.
“We are very fortunate to have someone with Dorothy’s background and interests to lead our community development and outreach efforts,” said Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis. “She is well known in the Twin Cities as a successful community leader with a strong track record of building alliances at the local level. This experience fits nicely with our role at the bank, which is to facilitate interaction and provide analytical support on issues ranging from the inner city to rural areas and to American Indian reservations. With Dorothy’s leadership, we look to enhance those efforts.”
Bridges has over 30 years of banking experience, much of it centered on local lending and development markets. Prior to joining Franklin National Bank, Bridges was a senior consultant for Barefoot, Marrinan & Associates, a bank regulatory compliance firm, where she focused on issues related to the Community Reinvestment Act and the Fair Lending Act. In 1995, Bridges joined the Community Reinvestment Fund, a private nonprofit corporation that securitizes economic development loans for secondary market investments.
While serving as president and CEO of Franklin National Bank in Minneapolis, she received the Women of Achievement Award from the TwinWest Chamber of Commerce in 2000 and was recognized as one of the most influential women in business and finance by local business publications.
Bridges, who began her banking career in 1979, has served on the board of directors of the Federal Reserve Bank of Minneapolis and as a member of the Federal Reserve System’s Consumer Advisory Council. She has also served on community banking councils for the American Bankers Association and the Federal Deposit Insurance Corporation. She is currently chair of the board of directors of the Northwest Area Foundation.
Download a photograph of Dorothy Bridges. [JPG, 90k]