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March 31, 2015 9:29 PM ET

Diversified Financial Services

Company Overview of Federal Deposit Insurance Corporation

Company Overview

Federal Deposit Insurance Corporation is a United States federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. The FDIC provides coverage for deposits in national banks, in state banks that are members of the Federal Reserve System, and in other qualified state banks. Federal Deposit Insurance Corporation also supervises the Savings Association Insurance Fund, the agency that was created to provide coverage for savings and loan associations. The institution was founded in 1933 and is headquartered in Washington, District Of Columbia. It has regional offices all over the United States.

550 17th Street, NW

Washington, DC 20429-0002

United States

Founded in 1933

Phone:

202-393-8400

Fax:

202-898-3772

Key Executives for Federal Deposit Insurance Corporation

Deputy to the Chairman and Chief Financial Officer
Chief Operating Officer
Chief Risk officer
Chief Learning Officer and Director of Corporate University
Chief Information Officer
Compensation as of Fiscal Year 2014.

Federal Deposit Insurance Corporation Key Developments

Summit Bank to Submit an Application to the FDIC to Open an Office in Bend, Oregon

Summit Bank announced that they will submit an application to the FDIC to open an office in Bend, Oregon. This will be Summit's second Oregon location. The proposed office will be located at 560 SW Columbia Street, on the corner of Colorado and Columbia. With this expansion, Summit Bank also plans to add up to 2 additional board members from the Bend area.

The Federal Deposit Insurance Corporation Announces Board Appointments

The Federal Deposit Insurance Corporation (FDIC) announced the selection of seven new members for its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around the country. The Advisory Committee on Community Banking discusses and provides input to the FDIC on a wide variety of topics, including current examination policies and procedures, credit and lending practices, deposit insurance assessments, insurance coverage and regulatory compliance. The new members of the Advisory Committee are: Roger Busse, President & CEO, Pacific Continental Bank; Christopher W. Emmons, President & CEO, Gorham Savings Bank; Jack A. Hartings, President/CEO, The Peoples Bank Co; Arvind A. Menon, President & CEO, Meadows Bank; Mary Ann Scully, Chairperson, President & CEO, Howard Bank; Gwen M. Thompson, President & CEO, Clover Community Bank; John Tolomer, President & CEO, The Westchester Bank.

Federal Deposit Insurance Corporation Appoints Charles Yi as General Counsel

Federal Deposit Insurance Corporation announced that Charles Yi has been appointed as the agency's general counsel. Yi previously served as staff director and chief counsel for the Senate Banking Committee. He succeeds Michael Krimminger, who stepped down as general counsel in May 2012. The FDIC said Richard Osterman, who has been leading the legal division on an acting basis, will return to his former position as deputy general counsel. Yi has held numerous positions both in the public and private sectors. Before working for the Banking Committee, he was deputy assistant secretary for banking and finance at the Treasury Department. Yi was also counsel for the House Financial Services Committee.

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