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Press Release

Michael P. Psyllos Appointed to New York Fed’s Community Depository Institutions Advisory Council

October 01, 2026

NEW YORK—The Federal Reserve Bank of New York today announced the appointment of Michael P. Psyllos to its Community Depository Institutions Advisory Council (CDIAC), effective today.

Psyllos is president and chief executive officer of Alma Bank, based in Long Island City, New York.

The Community Depository Institutions Advisory Council provides the New York Fed with information and insight from the perspective of community depository institutions. The council’s members are representatives from commercial banks, thrift institutions, and credit unions headquartered in the Federal Reserve's Second District with assets under $10 billion. Council members serve three-year terms.

The New York Fed's president and first vice president meet with the council twice a year to discuss regional economic and financial conditions, as well as other issues confronting community depository institutions. The next CDIAC meeting will take place on October 8.

For more information, including a list of the full membership, see Community Depository Institutions Advisory Council.

Contact
Ellen Simon
(347) 978-3036
Ellen.Simon@ny.frb.org

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