Two community bank experts have been appointed to a Federal Reserve Bank of Minneapolis advisory council, effective immediately.
Dylan S. Clarkson, president and CEO of Pioneer Bank & Trust in Spearfish, S.D., and Jenny Hosfeld, president and chief banking officer of Think Bank in Rochester, Minn., will join nine other members of the Community Depository Institutions Advisory Council (CDIAC).
“I am excited to welcome the new members,” Minneapolis Fed President Neel Kashkari said. “This council provides valuable insight on the state of financial institutions in the Ninth District and important perspective on the region’s economy.”
The CDIAC provides information, advice, and recommendations to Kashkari from the perspective of thrifts, credit unions, and banks in the Ninth District with total assets of less than $10 billion. Members are appointed by the Minneapolis Fed president.
The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation’s central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin, and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.