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For immediate release
Contact: Katherine Dibling, Public Affairs Specialist, (215) 574-4119
Philadelphia, Pa. — The Federal Reserve Bank of Philadelphia announced today that it has appointed Gerald L. Reeves, president, CEO, and director of Sturdy Savings Bank, to the Community Depository Institutions Advisory Council (CDIAC) for a three-year term.
The 12-member council is composed of representatives from commercial banks, thrift institutions, and credit unions. CDIAC convenes twice a year in Philadelphia to share insights on economic and business trends facing community depository institutions in their local markets. Subsequent to each local meeting, a representative from Philadelphia’s council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Federal Reserve Board of Governors in Washington, D.C.
Reeves has served in his current role at Sturdy Savings Bank since 2008. He joined the bank as vice president in 1991. In that role, he developed Sturdy’s commercial lending department. Before that, he served as a regional vice president with Chemical Bank, overseeing its commercial lending activities in Cape May County. Reeves began his banking career in 1981 at the former Marine National Bank in Wildwood, NJ. Chemical Bank merged with Marine National Bank’s holding company, Horizon Bancorp Bank, in 1989.
Reeves is on the board of the New Jersey Bankers Association and a member of its executive committee and serves on the Cape May County Fishing Loan Committee. He has also served on the boards of several community organizations, including the Mid-Atlantic Center for the Arts in Cape May, the West Cape May Board of Education, and the Green Creek Community Church.
Reeves has a bachelor’s degree in business administration from the University of Delaware and an M.B.A. from Monmouth University, located in West Long Branch, NJ.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank 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 Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.