Jeanne Crain and Sarah Walsh have been elected to the Federal Reserve Bank of Minneapolis’ board of directors for terms beginning January 1, 2019.
Crain is president and CEO of Bremer Financial Corp., St. Paul, Minn. She joined Bremer Financial Corp., in 2012 and was named CEO in 2016. Previously, she was president of the Minnesota region for BMO Harris Bank.
She was elected by the member banks in Group 1 as a Class A director. She will serve a three-year term. Crain is succeeding Class A director Randy Newman, chairman and CEO of Alerus Financial N.A. and Alerus Financial Corp., Grand Forks, N.D. Newman’s term will end Dec. 31.
Walsh is chief operating officer of PayneWest Insurance, Helena, Mont. She joined PayneWest Insurance in 1993 and is currently serving as the board chair for the Helena branch board of directors for the Minneapolis Fed.
She was elected by member banks in Group 1 as a Class B director and will serve a three-year term. She replaces Christine Hamilton, managing partner of Christiansen Land and Cattle Ltd., Kimball, S.D. Hamilton’s term will end Dec. 31.
The Class A group of directors is elected to the board of directors by member banks to represent member banks. It includes Catherine T. Kelly, Minneapolis-St. Paul regional president of PNC Bank, Pittsburgh, and Thomas Armstrong, president of First National Bank of Park Falls, Wis.
The Class B group of directors is elected by member banks to represent the public and includes David Emery, chairman and CEO of Black Hills Corp., Rapid City, S.D, and Kathleen Neset, president of Neset Consulting Service, Tioga, N.D.
The remaining three members of the Minneapolis Fed’s nine-person board are appointed by its board of governors to represent public financial interests.