Manasquan Bank Chair, President & CEO Appointed to the National Federal Reserve Board Council
WALL TOWNSHIP, NJ (March 14, 2023) -- Manasquan Bank is proud to announce that its Chair, President and Chief Executive Officer, James S. Vaccaro, has been appointed to the Community Depository Institutions Advisory Council (CDIAC) of the Federal Reserve Board. This council provides advice and guidance on the economy, lending conditions, and other issues of interest to community depository institutions with assets of less than $10 Billion.
The CDIAC is composed of representatives from commercial banks, thrift institutions, and credit unions from twelve Federal Reserve Banks throughout the nation. Mr. Vaccaro joins this esteemed group for a three-year term beginning in 2023.
“It is an honor to be appointed to this prestigious national council and represent Manasquan Bank and Federal Reserve District 2 within the Federal Reserve System," said Mr. Vaccaro. "I look forward to making meaningful contributions to this important advisory board."
The CDIAC meets twice a year with members of the Federal Reserve Board in Washington D.C., where they discuss current economic conditions as well as regulatory policies affecting community depository institutions nationwide. The council also gathers input from local advisory councils at each Federal Reserve Bank before making recommendations to the Board's leadership.
"As we continue navigating through these unparalleled times," continued Mr. Vaccaro, "it is essential that we remain committed towards providing best-in-class service while keeping our clients top priority; this appointment allows me to do just that."
As Chair, President & CEO of Manasquan Bank since 2012, Mr. Vaccaro has overseen significant growth in deposits during his tenure as well as managed strategic expansion through acquisitions and organic growth initiatives throughout New Jersey communities. His strong background combined with his unwavering commitment towards advocating sound banking practices make him an ideal candidate for this role on CDIAC's board of members.
For additional information, please click here: Federal Reserve Board - Federal Reserve announces members of its Community Depository Institutions Advisory Council (CDIAC) for 2023.
About Manasquan Bank:
Manasquan Bank, a mutual community bank with consolidated assets of $2.8 Billion, is headquartered in Wall Township, NJ. The Bank has been serving New Jersey residents since 1874 and continues to pioneer the future of banking with both traditional and digital solutions. The Bank offers a full line of personal & business services, and operates fifteen branch locations throughout Middlesex, Monmouth & Ocean Counties. Manasquan Bank proudly supports community-focused, non-profit initiatives through the Manasquan Bank Charitable Foundation. For more information, visit www.manasquan.bank.