Clayton Legear, President and CEO of Merchants & Marine Bank, has been appointed to the Federal Reserve Bank of Atlanta’s Community Depository Institutions Advisory Council (CDIAC). He’s been tapped to serve a three-year term, expiring in 2025, alongside fellow new appointees Jose R. Vazquez Jr., Macke Mauldin, and Alden J. McDonald Jr., and new chair Tyler Clinch.
The Atlanta Fed’s Board of Governors established the CDIAC in 2010 as a way to gather expert input on the economy, lending conditions, and other issues of interest to community depository institutions.
As an active member of numerous professional, civic, and charitable organizations, Legear brings a wealth of advisory experience to the CDIAC. The Merchants & Marine Bank leader is a governor-appointed member of the Mississippi State Board of Banking Review and serves as Education Chair and ex-officio Board Member for the Mississippi Banker’s Association. He has been recognized as one of the Top 10 Business Leaders Under 40 by the Mississippi Gulf Coast Chamber of Commerce and is an alumnus of Leadership Jackson County and Leadership Mississippi.
“Being appointed to the Atlanta Fed’s Community Depository Institutions Advisory Council is an honor, a responsibility, and most of all, an opportunity to be a voice for Merchants & Marine Bank’s communities in a conversation that has national reach,” says Legear. “I’m humbled and excited by this appointment.”
Appointment to the CDIAC is a testament to Clayton Legear’s expertise and his commitment to furthering the mission of community banking.
The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which includes Alabama, Florida, Georgia, and sections of Louisiana, Mississippi, and Tennessee. As part of the United States’ central banking system, it plays a role in how national monetary policy is set, provides financial services to depository institutions and the U.S. government, and supervises a number of commercial banking institutions.
New Community Depository Institutions Advisory Council members are selected from leading banks, thrift institutions, and credit unions serving on local advisory councils at the 12 Federal Reserve Banks.