The Federal Reserve Board reappointed Christopher Murphy III, 1st Source Bank chairman and chief executive officer, as a member of the 2019 Community Depository Institutions Advisory Council in Washington D.C. The CDIAC advises the board on the economy, lending conditions and other issues of interest to community depository institutions. Murphy is currently chair of the Chicago CDIAC, serving his second year of a three-year term. 

Council members are selected from representatives of commercial banks, thrift institutions and credit unions serving on local advisory councils at the 12 Federal Reserve District Banks. With more than 40 years as an employee and 45 years as a board member of 1st Source, Murphy 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 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. Murphy serves on multiple for-profit and not-for-profit boards at the local, state and national level.