Darrin Williams, CEO of Southern Bancorp Inc., was appointed Tuesday (June 8) to the board of directors of the Little Rock branch of the Federal Reserve Bank of St. Louis.
Williams will fill the unexpired portion of a three-year term ending Dec. 31, 2023.
Members of the St. Louis Fed’s board of directors and those of its branch boards in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn., provide insight to federal policy makers on the state of economic and credit conditions of their respective regions.
Their observations, along with the economic data and information gathered and analyzed by St. Louis Fed staff, are used to assist the Federal Open Market Committee’s deliberations in Washington, D.C. on a broad range of monetary and business policy decisions.
A full list of the board of directors for the St. Louis Fed and the Little Rock branch can be found here.
The St. Louis Fed, which includes the Little Rock branch, serves the states that comprise the Federal Reserve’s Eighth 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 financial literacy, economic education, and community development.