NEW YORK—The Federal Reserve Bank of New York today announced the appointment to its Community Depository Institutions Advisory Council (CDIAC) of Martin K. Birmingham, president and chief executive officer of Five Star Bank and Financial Services Inc. in Warsaw, New York.
The appointment to the council is effective immediately and Mr. Birmingham will complete the unexpired term of James Fulmer of Tompkins Bank of Castile, who retired as CEO at the end of 2014 and left the council.
In addition, two current members’ terms were extended three years, Saleem Iqbal of HAB Bank, New York, NY and John Buran of Flushing Bank, Lake Success, NY.
Council members are representatives from commercial banks, thrift institutions and credit unions with assets under $10 billion and headquartered in the Second Federal Reserve District (New York, northern New Jersey; Fairfield County, Connecticut; Puerto Rico and the U.S. Virgin Islands). The purpose of the council is to provide information and insight to the New York Fed from the perspective of community depository institutions.
The New York Fed’s president and first vice president meet with the council twice a year to discuss regional, economic and financial conditions and other issues confronting community depository institutions. Subsequent to each local meeting, a representative from the New York council joins counterparts from other Federal Reserve Bank councils at a meeting hosted by the Federal Reserve Board of Governors in Washington, D.C.