St. Louis Fed Announces Changes to Board of Directors

St. Louis (Vocus) January 20, 2010 -- The Federal Reserve Bank of St. Louis announced the following changes to its board of directors:

Steven H. Lipstein, president and CEO of BJC HealthCare in St. Louis, was redesignated chairman of the St. Louis Fed’s board of directors. Lipstein is also a member of the board of trustees of Washington University in St. Louis, and a member of the board of directors of the Association of American Medical Colleges, the Missouri Hospital Association and the St. Louis Regional Chamber and Growth Association.

Ward M. Klein, CEO of Energizer Holdings Inc., was redesignated deputy chairman of the St. Louis Fed’s board of directors. Klein is also a member of the boards of directors of Brown Shoe Co., Eden Seminary, the St. Louis region of Teach for America and the United Way of Greater St. Louis, and is chair of the education committee of St. Louis Civic Progress.

William E. Chappel, president and CEO of the First National Bank in Vandalia, Ill., was elected to the St. Louis Fed’s board of directors. Chappel is also president and a member of the board of directors of First Vandalia Corp. and a trustee of Kaskaskia College Foundation.

Sonja Yates Hubbard, CEO of E-Z Mart Stores, Inc. in Texarkana, Texas, was elected to the St. Louis Fed’s board of directors. Hubbard is also a member of the board of directors of the Texarkana Regional Arts & Humanities Council and the immediate past chairman of the National Association of Convenience Stores.

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, provides payment services to financial institutions and the U.S. government, and promotes community development and financial education.

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