South Bend-based 1st Source Corp. (Nasdaq: SRCE) Chief Executive Officer Christopher Murphy was elected to the board of directors of the Federal Reserve Bank of Chicago. Murphy will serve on the board through 2021.
He was elected by banks in the Seventh Federal Reserve District with capital and surplus of $16.6 million to $460 million.
“I am pleased to serve my fellow bankers by representing them on the Board of The Federal Reserve Bank of Chicago and look forward to helping the Fed in a very small way to deliver on its Mission to ‘help foster a strong economy and a stable financial system.’ We are blessed in the Seventh Reserve District, made up of portions of Illinois, Indiana, Michigan, Wisconsin and all of Iowa to have strong banks serving their clients and communities.” Murphy said in a news release.
Murphy has over 40 years as an employee and 45 years as a Board member of 1st Source. He has served as president and CEO of the bank since 1977.
Murphy received his B.A. in Government from the University of Notre Dame in 1968, a Juris Doctor from the University of Virginia Law School in 1971, and an M.B.A. (with Distinction) from Harvard University Business School in 1973.