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The St. Louis Fed in Your Community

The St. Louis Fed in Your Community

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Published by: Federal Reserve Bank of St. Louis on May 07, 2012
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The Federal Reserve
in Your Community
Making Connections within the Eighth District
THE EIGHTH FEDERAL RESERVE DISTRICT
8H
ARKANSAS 
 ILLINOIS 
 INDIANA 
 KENTUCKY 
 MISSISSIPPI 
 MISSOURI 
 TENNESSEE
 
STLOUISFED.ORG
|
1
LITTLE ROCk bRAnCH
 Board o Directors
Ray C. Dillo
Chairman
 
President and CEODeltic Timber Corp.El Dorado, Ark.
Michael A. Coo
 
Vice President andAssistant TreasurerWal-Mart Stores Inc.Bentonville, Ark.
Mary A Greewood
 
President andInvestment AdvisorGreenwood Gearhart Inc.Fayetteville, Ark.
kaleyra Morehead
VP or College Aairs/AdvancementSoutheast Arkansas CollegePine Blu, Ark.
Mar D. Ross
 
Vice Chairman andChie Operating OcerBank o the OzarksLittle Rock, Ark.
William C. Scholl
 
PresidentFirst Security BancorpSearcy, Ark.
 
Roert A. Hopis
Regional ExecutiveLittle Rock Branch
LOUISVILLE bRAnCH
Board o Directors
 barara A Popp
 
Chairman
PresidentSchuler Bauer RealEstate ServicesNew Albany, Ind.
Malcolm bryat
PresidentThe Malcolm Bryant Corp.Owensboro, Ky.
 
David P. Heitzma
 
Chairman and CEOStock Yards Bank & Trust Co.Louisville, Ky.
Jo A. Lawso
 
President, CEO and ChairmanBank o Ohio CountyBeaver Dam, Ky.
 
Gerald R. Marti
 
Vice PresidentRiver Hill Capital LLCLouisville, Ky.
 
Gary A. Rasdell
PresidentWestern Kentucky UniversityBowling Green, Ky.
kevi Shur
 
President and OwnerSuperior Maintenance Co.Elizabethtown, Ky.
Maria Gerwig Hampto
Regional ExecutiveLouisville Branch
MEMPHIS
 
bRAnCH
Board o Directors
 Charles S. blatteis
Chairman
 
Managing MemberBlatteis Law Firm PLLCMemphis, Tenn.
Allegra C. brigham
 
Vice President orUniversity Relationsand AdvancementMississippi Universityor WomenColumbus, Miss.
Roy Molitor Ford Jr.
 
Vice Chairman and CEOCommercial Bank and Trust Co.Memphis, Tenn.
Mar P. Fowler
 
Vice ChairmanLiberty Bank o ArkansasJonesboro, Ark.
Lawrece C. Log
 
PartnerSt. Rest Planting Co.Indianola, Miss.
Clyde Warre nu
 
Chairman and PresidentSecurity Bancorp oTennessee Inc.Halls, Tenn.
Charles E. Thomas III
 
Regional DirectorExternal/Legislative AairsAT&T TennesseeMemphis, Tenn.
 Martha Perie beard
Regional ExecutiveMemphis Branch
Ward M. klei
 
Chairman
 CEOEnergizer Holdings Inc.St. Louis
 Sharo D. Fiehler
 
Deputy Chair
Executive Vice Presidentand Chie Administrative OcerPeabody EnergySt. Louis
William E. Chappel
 President and CEOThe First National BankVandalia, Ill.
Gregory M. Ducett
 Senior Vice President andCorporate CounselBaptist Memorial Health Care Corp.Memphis, Tenn.
Soja Yates Huard
 CEOE-Z Mart Stores Inc.Texarkana, Texas
Roert G. Joes
 President and CEOOld National BancorpEvansville, Ind.
Cal McCastlai
PartnerDover Dixon Horne PLLCLittle Rock, Ark.
George Paz
 Chairman, President and CEOExpress ScriptsSt. Louis
Susa S. Stepheso
 
Co-Chairman and PresidentIndependent BankMemphis, Tenn.
ST. LOUIS
 
Board o Directors
DISTRICT HEADqUARTERSbRAnCH OFFICES
As chairman of the Federal Reserve Bank of St. Louis, I amproud to lead an organization that allows local communitiesto have a voice in terms of decisions being made at thenational level. It’s critical that ‘Main Street’ has this voice.It brings good balance to the Federal Reserve System.
Ward M. klei
Chairman o the Board, Federal Reserve Bank o St. Louis
T
he Federal Reserve serves many constituents across the countryin ormulating U.S. monetary policy, regulating banks, serving asthe ederal government’s bank and providing inormation about theeconomy to the public. The Fed’s regional structure—o 12 districtbanks plus a Board o Governors in Washington, D.C.—helps ensurethat the diverse views and economic conditions o all regions o thecountry are represented.Here in middle America, the St. Louis Fed works hard to build strongconnections and communications throughout our seven-state districtwith bankers, businesspeople, government ocials, educators,community development organizations, media and the public at large.These are the voices o “Main Street,” and all o us at the St. LouisFed take great pride in serving the Federal Reserve’s Eighth Districtwith inormation and resources.Feedback rom the District on business, economic and bankingconditions also helps inorm my analysis and discussion at FederalOpen Market Committee meetings in Washington, D.C.—making thisview rom Main Street one o the most important contributions aregional Reserve Bank can make in conducting monetary policy.Staying in touch with our audiences is an ongoing priority or us.To be successul, we never lose sight o our commitment to thepeople o the Eighth District. We look orward to working with you.
James bullard
President and CEOFederal Reserve Bank o St. Louis
Leadership
THE EIGHTH FEDERAL RESERVE DISTRICT
8H
ARKANSAS 
 ILLINOIS 
 INDIANA 
 KENTUCKY
 MISSISSIPPI 
 MISSOURI 
 TENNESSEE
 
2
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THE FEDERAL RESERVE
IN YOUR COMMUNITY
Reaching Out
and Convening
Staying in touch with the Eighth District is a priority in each o the District’sour oces. Engagement and collaboration help us better understand theeconomic conditions throughout the District’s communities. These sharedinsights oten lead to better decisions and solutions that help the economyas a whole perorm better.
Commuity Developmet
Promoting community and economic development and air and equal access to credit is themission o the St. Louis Fed’s Community Development department. Bank sta membersprovide fnancial institutions and others with inormation on the Community ReinvestmentAct (CRA), community and economic development, and issues related to credit access. Inaddition, the sta acilitates productive partnerships between lenders and their communitiesin the Eighth District to advance issues pertaining to community development fnance,neighborhood stabilization and household fnancial stability.Executives rom organizations throughout the District serve on the Bank’s CommunityDevelopment Advisory Council. The executives are all experts in community and economicdevelopment. The council was created to keep the St. Louis Fed’s president and CommunityDevelopment sta inormed about community development issues and to suggest ways theBank might support local development eorts.
>Learn more and subscribe ree o charge to the Bank’s Community Development newsletter,
bridges,
at www.stlouised.org/community_development. >Discover how the Bank encourages innovation in the eld o community development by visiting www.stlouised.org/community_development/exploringinnovation/index.cm.
Did you ow?
 On average each year,the St. Louis Fed conductsmore than 1,000 eventsthat reach more than40,000 people in EighthDistrict communities.
used with permissions
THE FEDERAL RESERVE BANK OF ST. LOUIS: CENTRAL TO AMERICA’S ECONOMY
PUBLISHED QUARTERLY BY THE COMMUNITY DEVELOPMENTDEPARTMENT OFTHE FEDERAL RESERVEBANK OF ST. LOUIS
LINKING LENDERS AND COMMUNITIESSPRING2011
BRIDGES
 www.stlouisfed.org
ByDanielP.Davis
S
ince2006,whenDr.MuhammadYunusandGrameenBankreceivedtheNobelPeacePrizeortheireortstocreateeconomicandsocialdevelopmentbyprovidingbankingservicestothepoorestcitizensoBangladesh,Ihavewatchedunold—withgreatcuriosity—thestoryomicro-nanceintheworld’smostdenselypopulatednation.ButIhavebeenevenmoreinterestedtouncoverhowmicronanceinBangladeshmayinfuenceeconomicdevelop-mentinourownnation.Itseemsthat,especiallyinatimeolimitednancingoreconomicdevelop-mentinitiatives,itmaybeagoodideatolookatmodelsoutside Americatounderstandhowdevelopmenthastakenplaceandevenprosperedwithewsourcesotraditionalnancing.SoIwelcomedtheopportunitytotravelwithcolleaguesromacrosstheU.S.toexaminehowmicronancehasservedasacatalysttoalleviatepovertyandnurturesocialentrepreneurshipinBangladesh.Ihopedtowitnessrsthandthecountry’sdevelop-mentachievementsandwaspreparedtobringbackaewkeytakeawaysromtheexperiencetoassistinmyworkhereathome. WhatIwasnotpreparedor,however,wastheoverarchingdiscoverythatallIreallyneedtoknowaboutmicronancewouldbelearnedinBangladesh.
KnowthePeopleYouServe
GrameenBankisheadquar-teredinDhakaandwastherstmodernmicronanceinstitu-tionintheworld.InBengali,“grameen”means“village,”andthebankwasdesignedwithanintentionalocustocontinuallyunderstandthepeopletheorgani-zationserves.ThisprincipleisattheheartotheworkbeingdonebyGrameen.Ihadthe
continued onPage 2
4
Insourcing theOutsourcedCampus Microinance Funds:Connecting Campuses toCommunities
6
Foreclosures in theEighth District: Onthe Rise Again?
All I Really Need To Know About MicrofnanceI Learned in Bangladesh
8
Ruralmicroloanborrowersgather for aweeklygroupmeeting.
 
      I      N      D      E      X
STLOUISFED.ORG
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3
Idustry Coucils
The St. Louis Fed’s industry councils are designed to build a consistent and dependabletwo-way line o communication about economic conditions between the St. Louis Fedand industry representatives throughout the District. Each council is based in one othe District’s our oces: St. Louis (real estate), Little Rock (agribusiness), Louisville(health care) and Memphis (transportation).
>See current council members at www.stlouised.org/about_us/industry.cm.
Commuity Depository Istitutios Advisory Coucil
The St. Louis Fed’s Community Depository Institutions Advisory Council (CDIAC) iscomposed o 12 executives o smaller fnancial institutions across the Eighth District.Council members meet twice a year to advise Bank President James Bullard on thecredit, banking and economic conditions acing their institutions and their communities.
>See current council members at www.stlouised.org/about_us/cdiac.cm.
Fiacial Istitutio Touch
Branch executives and other Bank ocials meet regularly with fnancial executives toreceive anecdotal inormation on local markets. This inormation is shared witheconomists and other Bank sta to better understand economic and banking conditionsin the region. In turn, our ocials share inormation about Fed resources and discussissues that bankers across the Eighth District have.
Dialogue with the Fed
Dialogue with the Fed events help clariy the oten-conusing economic inormation containedin news and data reports. At these orums, St. Louis Fed experts explain and take questionsabout current topics related to the economy.
>Learn more at www.stlouised.org.
Speaers bureau
St. Louis Fed ocials requently speak to business and civic groups around the Eighth Districtabout the purposes and unctions o the Federal Reserve, as well as banking issues andregional and national economic conditions.
© istockphoto

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