The Federal Reserve Bank of San Francisco announced that West Mathison, president of Wenatchee-based Stemilt Growers LLC, has been redesignated chairman of the Seattle Branch Board of Directors for 2019. In addition, Mr. Mathison was reappointed to the Seattle Branch Board by the Board of Governors to a second three-year term. Cheryl B. Fambles, CEO of Pacific Mountain Workforce Development Council in Tumwater, WA, has been reappointed to the board of directors to a three-year term. Both terms end December 31, 2021.
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Mr. Mathison is part of the fifth generation of Mathison family farmers and has led the family-owned company since 2005. Stemilt is a leading grower, packer and shipper of fresh fruits. Mr. Mathison oversees agricultural operations in Washington and California. He holds a bachelor’s degree in international business from the University of Puget Sound.
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Ms. Fambles is CEO of Pacific Mountain Workforce Development Council (PacMtn), a 501(c)(3), and has served in that capacity since joining the organization in 2012. Prior to joining PacMtn, Ms. Fambles was most recently executive director of Washington Workforce Association. Ms. Fambles holds degrees from The Evergreen State College and The City University of New York. She is a graduate of the Senior Executives in Government program at Harvard University.
The balance of the Seattle Branch Board of Directors includes:
Elaine S. Couture, executive vice president and CEO, Washington and Montana region, Providence St. Joseph Health, Spokane, WA
Craig Dawson, president and CEO, Retail Lockbox, Inc., Seattle, WA
Sophie Minich, president and CEO, Cook Inlet Region, Inc. (CIRI), Anchorage, AK
Laura Lee Stewart, president and CEO, Sound Community Bank and Sound Financial Bancorporation, Seattle, WA
Andrew Wolff, CFO, International and Channel Development, Starbucks Coffee Company, Seattle, WA
About the Boards of Directors
The Federal Reserve Act of 1913 requires each of the 12 Reserve Banks to operate under the supervision of a board of directors. The Federal Reserve Bank of San Francisco’s head office is governed by nine directors who represent the interests of the 12th Reserve District and whose experience provides the Bank with a wider range of expertise that helps it fulfill its policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A directors represent the member banks in the District; Class B directors and Class C directors represent the interests of the public. In the case of the Federal Reserve Bank of San Francisco, its four branches in Los Angeles, Portland, Salt Lake City and Seattle each have a separate seven-member branch board.
The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.