Philadelphia Fed Appoints New Members to Community Depository Institutions Advisory Council

For immediate release

Contact: Kelly Antonacci, Media Relations

Philadelphia, PA — The Federal Reserve Bank of Philadelphia today announced the appointment of Janak M. Amin, president and CEO of Presence Bank, and Dave Hanrahan, president and CEO of Century Savings Bank, to its Community Depository Institutions Advisory Council (CDIAC). Amin and Hanrahan begin their three-year terms in October 2023.

The 12-member council is composed of representatives from commercial banks, thrift institutions, and credit unions. The group convenes twice a year with officials from the Federal Reserve Bank of Philadelphia to share insights about economic and business trends facing community depository institutions in their local markets. After each local meeting, a representative from the Philadelphia council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Board of Governors of the Federal Reserve System in Washington, D.C.

After starting his career in London, Amin has gained more than 30 years of banking experience, predominantly in the central Pennsylvania region. Before joining Presence Bank, he was CEO of LeTort Trust, copresident of Sunshine Bank in Florida, and cofounder of Graystone Bank, where he served as president and CEO.

Hanrahan has been a community banker in South Jersey for more than 35 years. Before joining Century in 2020, Hanrahan was president and CEO of Capital Bank of New Jersey for 13 years, from its 2006 beginning to its sale to OceanFirst Bank in 2019. Prior to Capital, Hanrahan spent 16 years at the Bank of Gloucester County, which is now part of Fulton Financial Corporation.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy; supervises state member banks, bank holding companies, and savings and loan holding companies; and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.