Department of Financial Institutions
Four Appointed to Financial Institutions Board
FRANKFORT, KY (Jan. 26, 2009) – Gov. Steven L. Beshear has appointed four new members to the Financial Institutions Board – an advisory board made up of 12 representatives from various segments of Kentucky’s financial industry and the public-at-large. The board reviews and discusses reports regarding the Department of Financial Institutions (DFI) and the financial services industries in Kentucky.
The appointments include three banking industry representatives: Frank Ramsey Jr., Mark A. Gooch and William Frederick Brashear II; and one public-at-large representative: David S. Beck. All four members will serve terms expiring Oct. 10, 2012.
Frank Ramsey Jr., of Madisonville, has been the president of Dixon Bank since 1972. He brings to the board his banking experience, as well as experience from other businesses he managed throughout his career. As president and CEO of a small bank – about $65 million in assets – he said he can bring a perspective to the board regarding issues small banks face. Mr. Ramsey has a business degree from the University of Kentucky. He and his wife, Jean, have three grown children.
Mark A. Gooch, of Pikeville, is the president and CEO of Community Trust Bank Inc. and executive vice president and secretary of Community Trust Bancorp Inc. After obtaining his bachelor’s in business administration from the University of Kentucky, he started his banking career at First Security Bank & Trust in 1981. He remained with the bank after it was acquired by Pikeville National Corporation in 1987, which became Community Trust Bank in 1997. Among his community service activities, Mr. Gooch is past chairman and director of the Pike County Chamber of Commerce, past director of Leadership Pike County and past director of the Kentucky Bankers Association. He and his wife, Patricia, have three children, Gabriel, Natalie and Stacie.
“I feel strongly about assisting our regulatory authority, whether that’s state or federal,” Mr. Gooch said. “I am always willing to learn more regarding banking, finance and insurance and share my experiences regarding the financial services industry. … I consider serving on this board a civic opportunity and responsibility.”
William Frederick Brashear II, of Hyden, is president and chief executive officer of Hyden Citizens Bank. A third-generation banker, he feels strongly about the important role community banks play on a local level. He currently serves on a number of boards, including: the Middlefork Financial Group (holding company), Farmers State Bank, Farmers & Traders Bank, Middlefork Insurance Agency and various community groups. From 1997 to present, he has held several positions with the Kentucky Bankers Association, including board member, chairman and treasurer. He has served on the Kentucky Bankers Association Insurance Board of Directions since 1992 and is currently chairman. Mr. Brashear earned a bachelor’s in accounting from Georgetown College. He and his wife, Rhonda, have two children, Joel and Rachel, and two grandchildren, Tripp and Julianna.
“I’m very proud of our banking industry in Kentucky. It’s one of the very best in the United States,” he said. “We have a strong industry and a great relationship with our regulator.”
David S. Beck, of Louisville, is chief executive officer of the Kentucky Farm Bureau Federation. The Lyon County native started his career with Kentucky Farm Bureau in 1977 as an area field service director in central Kentucky. Today he has overall administrative responsibility for Kentucky Farm Bureau’s programs and services, and he manages the organization’s staff and its finances. Mr. Beck received a bachelor’s degree in agriculture from Murray State University, and he is currently active in his church, St. Matthews Baptist Church, and several civic groups, including Kentucky Society of Association Executives, Kentucky Export Trade Corporation, Kentucky Council on Economic Education, Friends of Kentucky 4-H and others. He and his wife, Nancy, have three children, Matthew, Allison and Natalie.
“It’s going to be interesting,” said Mr. Beck, who will represent the public-at-large. “I view it personally as an educational opportunity for me, and hopefully I’ll be able to contribute.”
The other members of the Financial Institutions board include banking industry representatives Charles Beach III, of Beattyville, and Katherine Reese Capps, of Pineville; consumer finance representative Robert I. Stafford Jr., of Corbin; credit union representative Alla Sue Holland, of Fort Wright; public-at-large representatives Monti Rhea Collins, of Benton, and William Edward Hesch, of Taylor Mill; and securities representative Kevin P. Walsh, of Walton. DFI Commissioner Charles Vice serves as the chairman of the board.
“The board members Gov. Beshear has selected are knowledgeable and experienced, and they will provide perspective to the board and to our agency,” said Vice. “I look forward to working with them in my commitment to keep Kentucky’s financial institutions safe and sound for our citizens.”
The board meets at the discretion of the commissioner, who intends to continue having an annual meeting in the fall. For more information about the board and member duties, visit DFI’s Web site at www.kfi.ky.gov/aboutus/board.htm.
DFI is an agency in the Public Protection Cabinet. It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.