Central Pacific’s Ngo appointed to Federal Reserve council

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Central Pacific Financial Corp. Chair Catherine Ngo has been appointed to the Federal Reserve Bank of San Francisco’s Community Depository Institutions Advisory Council.

Ngo, who also is chair of Central Pacific Bank, becomes only the third appointee from Hawaii to serve on the council. The two previous appointees from Hawaii were now-retired American Savings Bank President and CEO Rich Wacker, 2019-2021, and now-retired American Savings Chair Connie Lau, 2011-2014.

The 12-member CDIAC represents banks, thrift institutions and credit unions of various sizes within the Twelfth Federal Reserve District. The council offers input to the senior management of all member banks in the district on a variety of topics, including economic and banking conditions, regulatory policies, payment issues and other issues of interest to community depository institutions.

“I am honored to be appointed to the Council and serve as a voice for Hawaii,” Ngo said. “I believe our state is well represented on the federal level, which is positive for our people and our communities.”

The Twelfth District is headquartered in San Francisco and includes Hawaii, Alaska, Arizona, California, Idaho, Nevada, Oregon, Utah, Washington, Guam, American Samoa and the Commonwealth of the Northern Marianas Islands. The district includes one-fifth of the nation’s population.