Bank of Ann Arbor is pleased to announce that its President and CEO, Timothy G. Marshall, has been approved by the Board of Governors of the Federal Reserve Bank to serve as Chair of the Federal Reserve Bank of Chicago’s Community Depository Institution Advisory Council (CDIAC). Marshall was originally appointed to serve as one of the twelve council members representing the five state Chicago Federal Reserve region in early 2011.
In his new role as Chair of the Chicago region, Mr. Marshall will also attend meetings of the national CDIAC hosted by the Federal Reserve in Washington, DC. Marshall is the only community banker representing the State of Michigan on both the Chicago and national CDIAC.
“I am quite humbled by this appointment as the new Chair and look forward to presenting the Board of Governors and other representatives from the Federal Reserve in Washington who participate in the CDIAC meetings with meaningful economic and banking updates from our region of the country”, explained Tim Marshall. “Bank of Ann Arbor has operated quite successfully throughout the economic downturn and this appointment is recognition of the strong performance of the bank in addition to a positive reflection on the oversight provided by an exceptional board of directors. I am thankful to be associated with such a great board and a wonderful group of colleagues here at Bank of Ann Arbor of whom I regularly refer to as “The World’s Best Bankers”. Everyone associated with Bank of Ann Arbor should feel a sense of accomplishment with this recognition.”
About the Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks across the United States that, together with the Board of Governors in Washington, D.C., serves as the central bank for the United States. The CDIAC provides an avenue for the Federal Reserve Bank to learn more about specific financial sectors throughout the Seventh Federal Reserve District, which encompasses Illinois, Indiana, Wisconsin, Michigan and Iowa. Further, CDIAC meetings provide an opportunity for council members to discuss their concerns and views on economic, financial, and regulatory matters with key decision makers.
Council members serve staggered terms lasting up to three years and meet twice annually to provide their views on current business and economic conditions to Chicago Fed President Charles Evans and other senior officials of the Federal Reserve Bank. Input from Council members on regional banking conditions helps contribute to the Federal Reserve System's formulation of national supervisory and monetary policy.
About Bank of Ann Arbor
Bank of Ann Arbor is a locally owned and operated bank with total assets and assets under management of over $1.4 billion, serving people and businesses in the Ann Arbor area with offices at the corner of Fifth Avenue and Washington Street in downtown Ann Arbor, in the Traver Village Shopping Center, across from the Arborland Mall, at the corner of Stadium and Liberty streets, on West Ellsworth Road in Pittsfield Township, and on West Michigan Avenue in downtown Ypsilanti. Its newest office is on Ann Arbor Road in Plymouth. The web site is www.boaa.com. Visit us on Facebook, Twitter, and LinkedIn.
About Tim Marshall
Tim Marshall is President and CEO of Arbor Bancorp, Inc. and Bank of Ann Arbor, a locally owned and operated full-service community bank with seven locations in the Ann Arbor, Michigan area. The bank was founded in 1995 and has grown to $773 million in total assets. The trust and investment management group was formed in late 1997 and has total assets under administration of $658 million. Combined bank and trust assets exceed $1.4 billion. The December 31, 2011 fiscal year end represents the second consecutive year of record-level assets, deposits, and earnings. In addition to supporting the lending and deposit needs of our local businesses and consumers, Bank of Ann Arbor is very active in the entrepreneurial community and has built one of the premier Technology and Life Science Banking Groups in the Midwest.
Tim is a graduate of Purdue University, where he received a B.S. in Industrial Management from the Krannert School of Business and a M.B.A. from Butler University.
His banking career spans 27 years starting in 1981 at Indianapolis based American Fletcher National Bank. In 1994, he moved to Indianapolis headquartered Salin Bank & Trust Co. where his management responsibilities ranged from serving as the Chief Credit Officer to managing all functional business lines as the President, Chief Operating Officer, and a Board Director of Salin. The bank grew from approximately $200 million in assets to nearly $1 billion under his direction. Trust assets were $34 million in 1998 and grew to $431 million prior to his departure in June 2004 when he joined Bank of Ann Arbor in his current role.
Active in his community, Tim is a board director for the Washtenaw County Shelter Association, as well as a board member for the Affordable Housing Partners, Inc., Great Lakes Capital Fund Nonprofit Housing Corporation, an affiliate of the Great Lakes Capital Fund for Housing, and the Ann Arbor Economic Development Corporation. Tim was appointed in 2011 to the Federal Reserve Bank of Chicago’s Community Depository Institution Advisory Council (CDIAC) and will serve as its Chair in 2012. Bank of Ann Arbor was a founding member of Ann Arbor SPARK, an economic development organization in southeast Michigan, where he serves as Vice Chairman of the Board and is on the Executive Committee. He also is a member of the Downtown Rotary Club and has volunteered his time on numerous initiatives with the United Way, American Red Cross, Arbor Hospice, Ann Arbor Area Transportation Authority and Chamber of Commerce.