Department of Financial Institutions
Financial Institutions Board Gains New Members
FRANKFORT, Ky. – (Jan. 27, 2012) – Gov. Steven L. Beshear has appointed two new members to the Financial Institutions Board and reappointed another member. The advisory board is 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.
Charles Beach III was reappointed to represent the banking industry, which also will be represented by new member Dale Sights. Joe Roberts was appointed to represent the securities industry. All three will serve terms expiring Oct. 10, 2015.
Roberts, of Lexington, has been involved with the family business of Roberts Insurance and Investments in Richmond for 14 years. He is a Chartered Financial Consultant. Roberts attended Centre College and the University of Kentucky and holds a degree in business.
“I’m really honored and excited to be a part of this board. And I’m looking forward to contributing,” he said.
Sights, of Henderson, is president of the Bank of Henderson and was previously associated with Ohio Valley National Bank. He attended Evansville College and Murray State University. In addition to his banking knowledge, he brings years of experience running a family business. He and his wife, Margaret Ann, have four grown children and seven grandchildren.
“I’m indeed honored to have been appointed to the position by Gov. Steve Beshear,” he said. “A healthy and vibrant banking and financial system is vital to the welfare of our communities and to that of our state. I look forward to participating in that process.”
Beach, of Beattyville, was reappointed to a second term on the financial institutions board. He is chairman of the board of the Peoples Exchange Bank, Stanton, and a director at People’s Bank, Lebanon. Beach previously was mayor of Beattyville for 34 years, and past president of the Kentucky League of Cities. He graduated from the University of Kentucky and Harvard Business School. He and his wife, Helen, have two children, Charles Beach IV and Susan Taylor Beach Moloney.
“I’m grateful to Gov. Beshear and Commissioner Vice for reappointing me to the board,” he said. “It’s an honor to serve one of the strongest state banking systems in the country.”
The other members of the Financial Institutions Board include banking industry representatives W. Fred Brashear II, of Hyden; Mark A. Gooch, of Pikeville; and Frank Ramsey Jr., of Madisonville; consumer finance representative Jerry Pyle, of Crofton; credit union representative Valerie Brown, of Bowling Green; and public at large representatives David Beck, of Louisville; Branden Gross, of Lexington; and Bill Tatum Jr., of Lebanon. 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 guidance to the successful operation of 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 http://kfi.ky.gov/about/Pages/board.aspx.
DFI, which traces its origin to the Banking Act of 1912, is an agency in the Public Protection Cabinet. For 100 years it has supervised 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 and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.