The Federal Reserve Board has selected Christopher Murphy to serve as a member of the 2018 Community Depository Institutions Advisory Council in Washington, D.C. The CDIAC advises the Federal Reserve Board on local economic conditions, the impact of regulations and the Federal Reserve’s operational services and oversight of community depository institutions. Murphy just completed a three-year term on the Federal Reserve Board of Chicago’s CDIAC and was reappointed to an additional term to serve as the council’s chairman.
He is chairman and chief executive officer at 1st Source Bank. Murphy has served as a board member of 1st Source for more than 45 years and was named president and CEO of the Bank in 1977, CEO of the corporation in 1979 and chairman in 1998. He received a B.A. in Government from the University of Notre Dame, a Juris Doctor from the University of Virginia Law School and an M.B.A. (with Distinction) from Harvard University Business School.
Council members are selected from representatives of commercial banks, thrift institutions, and credit unions serving on local advisory councils at each of the 12 Federal Reserve Banks. The chair of each council then represents that Federal Reserve District in Washington.