First Commonwealth CEO to Serve on Community Bank Advisory Board of the Federal Reserve
INDIANA, PA (September 21, 2018) - Michael Price, President and CEO of First Commonwealth Financial Corporation, has been selected to serve on the National Community Depository Institutions Advisory Council (CDIAC) for the Federal Reserve Board of Governors in Washington, D.C. Price currently serves on the CDIAC of the Federal Reserve Bank of Cleveland.
The CDIAC, which includes one member from each of the country’s twelve Federal Reserve Bank Advisory Councils, will meet twice a year with the Federal Reserve Board in Washington to discuss insights and conditions that affect community banks with assets of less than $10 billion.
“Our District CDIAC provides us with a wealth of information on the state of banking and business conditions throughout our territory,” said Guhan Venkatu, Group Vice President of Regional Analysis and Outreach at the Cleveland Reserve Bank. “Mr. Price has been a valued member of our District Council since 2016, and will now have an opportunity to share his insights at a national level.”
Price was selected to the position in September 2018. He will officially begin his service at the CDIAC’s first meeting in 2019.
With more than 30 years of management experience in the financial services industry, Price has served as President and Chief Executive Officer of First Commonwealth Financial Corporation since March 2012. He first joined the company in November 2007 as President of First Commonwealth Bank. Prior to his role at First Commonwealth, Price worked at a larger financial institution in Ohio, where he held various titles, including Branch Manager, Commercial Lender, Head of Business Banking and Regional CEO.
About The Federal Reserve System’s Community Depository Institutions Advisory Council (CDIAC)
The CDIAC was established in 2010 by the Board of Governors of the Federal Reserve System (the Board) to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of banks, thrift institutions, and credit unions serving on local advisory councils at the twelve Federal Reserve Banks.
About First Commonwealth Financial Corporation
First Commonwealth Financial Corporation (NYSE:FCF), headquartered in Indiana, Pennsylvania, is a financial services company with 140 banking offices in 22 counties throughout western and central Pennsylvania and Ohio, as well as Corporate Banking Centers in Pittsburgh, Pennsylvania and Cleveland and Columbus, Ohio. The company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Dublin, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. It is through these services that the company strives to execute on its mission to improve the financial lives of its neighbors and their businesses.
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