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For immediate release
Contact: Katherine Dibling, senior media representative, (215) 574-4119
Philadelphia, Pa. - The Federal Reserve Bank of Philadelphia announced today it has established the Community Depository Institutions Advisory Council (CDIAC) and appointed 12 members who represent commercial banks, thrift institutions, and credit unions. The council will provide information, advice, and recommendations to the Federal Reserve Bank of Philadelphia from the perspective of community depository institutions.
The CDIAC will convene twice a year in Philadelphia to share insight on economic and business trends facing community depository institutions in their local markets. Subsequent to each local meeting, a representative from Philadelphia’s council will then meet with counterparts from other Federal Reserve Banks at a council hosted by the Federal Reserve Board of Governors in Washington, D.C.
Each of the following 12 council members will serve a three-year term:
Steven C. Ackmann
Steven C. Ackmann joined The Bank of Princeton as president in August 2010. Before joining the bank, Ackmann was president and CEO at the Fidelity Deposit and Discount Bank. Prior to that, he was the senior executive vice president and COO at First National Bank of Pennsylvania. Before that, he served as president and COO of Promistar Financial Corporation and president of Promistar Bank. Ackmann did his undergraduate work at Robert Morris College, Washington and Jefferson College, and the University of Washington. He earned an MBA from the University of Pittsburgh’s Katz School. He also holds degrees from Oklahoma University’s National School of Commercial Lending.
Martin J. Banecker
Martin J. Banecker is president and CEO of Campbell Employees Federal Credit Union, Cherry Hill, N.J. He previously served on the Bank’s Credit Union Advisory Council. Banecker began his career with the National Credit Union Administration, where he was a principal examiner based in Philadelphia. He holds a bachelor’s degree in economics from Rutgers University.
Stephen Cimo has been president and CEO of the Delaware State Police Federal Credit Union, Georgetown, Del., since 2002. Cimo is a CPA and the former finance director of Kent County. He is a member of the AICPA and holds a bachelor’s degree in accounting from Delaware State University.
Dennis D. Cirucci
Dennis D. Cirucci is the president, CEO, and director of both Alliance Bancorp Inc. of Pennsylvania, and its wholly owned subsidiary, Alliance Bank. Since joining Alliance Bank in 1983, Cirucci has served in various positions, including executive vice president and COO, treasurer, and CFO. Prior to joining Alliance Bank, Cirucci worked for Deloitte & Touche, LLP, where he was a national industry specialist on financial institutions. He is a member of the AICPA and the Pennsylvania Institute of Certified Public Accountants. He is the treasurer of the Pennsylvania Association of Community Bankers and a member of the Financial Managers Society. He supports community events, including Heat for the Holidays and the Delco Run for Heroes. Cirucci holds a bachelor’s degree in accounting from Drexel University.
Gerard P. Cuddy
Gerard P. Cuddy has been president and CEO of Beneficial Bank since January 2007. He also serves as CEO and president of Beneficial Bancorp, Inc. Cuddy directs Beneficial’s efforts to provide its customers with education and resource tools to help them make financially sound decisions. Prior to joining Beneficial Savings Bank, he served as senior loan officer for commercial lending in Pennsylvania for the former Commerce Bank. Before joining Commerce, Cuddy served as senior vice president and regional managing director for Fleet Bank’s private banking operations in Pennsylvania, southern New Jersey, and Delaware from 2002 to 2005. Cuddy earned a bachelor’s degree in economics from Villanova University and an MBA from St. Joseph’s University.
Robert A. Dorsey
Robert A. Dorsey has served as president, CEO, and a member of the board of directors of Audubon Savings Bank, Audubon, N.J., since 2004. Dorsey had joined Audubon Savings Bank in 1992 as the chief lending officer. In 1989, Dorsey joined Farmers & Mechanics Bank, where he developed a commercial lending department. Prior to that, Dorsey was regional vice president with responsibility for two commercial lending groups for First Jersey National Bank. He started his banking career in 1975 with Burlington County National Bank in Medford, N.J. Dorsey attended Wake Forest University and earned an associate’s degree in business administration from Burlington County College.
Richard J. Green
Richard J. Green has been vice chairman and CEO of Firstrust Bank since August 2008. Prior to that, Green was president and CEO, a position he had held since 1995. He has served on Firstrust’s board of directors since 1986. Green joined the bank in 1978 as general counsel. He is president, CEO, and vice chairman of Semperverde Holding Co., which owns Firstrust Bank. He was a member of the former Federal Reserve Board of Governors’ Thrift Institutions Advisory Council. Green is also a limited partner of the Philadelphia Eagles of the National Football League. He earned a bachelor’s degree from Tufts University and an MBA from the Wharton School at the University of Pennsylvania. He also attended SMU’s law school and the University of Pennsylvania’s law school.
David M. Lobach, Jr.
David M. Lobach, Jr. is co-founder, chairman, and CEO of Embassy Bank for the Lehigh Valley. During his banking career, he started Ambassador Bank as a founding stockholder and COO. During his 19-year tenure with First Valley Bank, he oversaw private banking, commercial services, corporate business development, consumer lending functions, and holding-company activities. Lobach is the chairman of St. Luke’s Hospital Network. He graduated from Churchman’s College and the University of Delaware’s Stonier Graduate School of Banking.
Lynda Messick is president and CEO of Community Bank Delaware in Lewes, Del. She is a board member of Nanticoke Health Services in Seaford, Del., where she chairs the compliance and risk management committee and serves on the governance and executive compensation committees. Messick is also a board member of the American Red Cross of the Delmarva Peninsula. She has more than 35 years of involvement in civic and charitable organizations. Messick has also served on the American Bankers Association Community Bankers Council.
Vito S. Pantilione
Vito S. Pantilione has served as the president and CEO of Parke Bank since its formation in 1999. He was previously the president and owner of Eagle Valley Financial Services, Philadelphia. From 1991 to 1994, he was president of First Commercial Bank of Philadelphia. Pantilione previously was the president and owner of Interstate Mortgage Management and was the executive vice president of First Federal Savings of Hammonton. He also serves as a member of the foundation board of directors of Rowan University’s Business College. Pantilione attended Mount St. Mary’s College and Philadelphia College of Textiles and Sciences.
Evelyn F. Smalls
Evelyn F. Smalls has served as president and CEO of United Bank of Philadelphia since June 2000. Prior to that, Smalls served as partner and consultant with the Community Development Services Group of Philadelphia, and as vice president and consultant to executive management at First Pennsylvania Bank of Philadelphia. She serves on several boards, including United Bancshares, Inc., where she is a member of both the executive committee and asset, liability and loan committee. She also serves on the boards for the Forum for Executive Women, the United Way of Southeastern Pennsylvania, the Committee of Seventy, the Philadelphia Authority for Industrial Development, and the National Liberty Museum. Smalls is a member of the National Bankers Association. She has a bachelor’s degree in business from North Carolina Central University.
Deb Takes is chairman and CEO of First Priority Bank and executive vice president of First Priority Financial Corp. She serves on First Priority Bank’s and First Priority Financial Corporation’s boards of directors. Takes also serves on the boards of North Penn United Way, the Montgomery County Lands Trust, the Philadelphia Boys Choir & Chorale, the North Penn Valley Boys & Girls Club, Gwynedd Mercy Academy High School, and Peter Becker Community. She is vice chairman of the board of trustees at Cabrini College and chairman of the business advisory council of Rosemont College. She is also a board member of the Pennsylvania Association of Community Banks. She received a bachelor’s degree in economics from Vassar College and a master’s degree in the science of management from Rosemont College.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank 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 Pennsylvania, southern New Jersey, and Delaware.