Berne, Ind. - Kent Liechty, President and CEO of First Bank of Berne, was selected to join the Federal Reserve's Community Depository Institutions Advisory Council (CDIAC) for 2021. The CDIAC advises the Federal Reserve Board on the economy, lending conditions, and other issues of interest to community depository institutions. Council members represent banks, thrifts and credit unions throughout all 12 Federal Reserve Bank Districts.
Liechty has worked at First Bank of Berne for over 20 years and has been acting President and CEO for the last 10. He has been a member of the CDIAC since 2019. Liechty has also served on the board for organizations like Youth for Christ, Swiss Village Retirement Community and Berne Community Development Corporation.
"Being a member of the CDIAC will provide the opportunity to have a positive impact on the financial services industry through meaningful first-hand input to the Federal Reserve Bank Board on the economy, lending conditions, and other market factors impacting individuals and business interests," said Liechty. "This role will also include interaction and collaboration with other financial leaders throughout the country representing the 12 separate Federal Reserve Bank Districts. It is a great honor."
Liechty says the role of the CDIAC will allow the Federal Reserve Bank Board to understand and evaluate the economic and financial conditions of the First Bank of Berne market areas and surrounding Federal Reserve Districts. The council is meant to aid in future policies that will impact growth, stability and economic development.