September 24, 2022

Boston Fed Names Essex Savings Bank Exec. to New Advisory Board

Greg R. Shook, President & Chief Executive Officer of Essex Savings Bank

The Federal Reserve Bank of Boston has appointed 12 members, including  local bank executive Greg R. Shook, President & Chief Executive Officer of Essex Savings Bank, to an adisory council formed in response to new regulations.

Each Federal Reserve Bank across the country is establishing a First District Community Depository Institutions Advisory Council (CDIAC) in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The councils will represent the perspective of smaller financial institutions and provide input on the economy and lending conditions, among other issues, according to a statement.

The First District’s 12 CDIAC members represent commercial banks, thrift institutions and credit unions with assets less than $10 billion. Members, which are from each of the six New England states, will meet three times annually.

The following members were appointed:

  • Gregory Shook, president/CEO, Essex Savings Bank, Essex
  • James W. Blake, president/CEO, HarborOne Credit Union; Brockton, Mass.
  • Tom Caron, president/CEO, Bank of Easton; North Easton, Mass.
  • Christopher Oddleifson, president/CEO, Rockland Trust Co.; Rockland, Mass.
  • Bill Stapleton, president/CEO, Northampton Co-Operative Bank; Northampton, Mass.
  • Jane Walsh, president/CEO, Northmark Bank; North Andover, Mass.
  • John J. Dwyer, Jr., president/CEO, New England Federal Credit Union (NEFCU); Williston, Vt.
  • Michael L’Ecuyer, president/CEO, Bellwether Community Credit Union; Manchester, N.H.
  • Gregg R. Tewksbury, president/CEO, Savings Bank of Walpole; Walpole, N.H.
  • Peter Judkins, president/CEO, Franklin Savings Bank; Farmington, Maine
  • Joseph J MarcAurele, president/CEO, Washington Trust; Westerly, R.I.
  • Merrill Sherman, president/CEO, Bank Rhode Island; Providence, R.I.

Stapleton will serve as District One’s representative to the national CDIAC, which will meet twice a year to advise the Federal Reserve Board in Washington, D.C., according to a statement. The Federal Reserve Board announced in October it was forming the CDIAC to replace the Thrift Institutions Advisory Council.

The first meeting of the District One CDIAC was held on March 1.