Pioneer Bank & Trust President/CEO Named to the National Community Depository Institutions Advisory Council
Washington, DC (April 2023) – Dylan S. Clarkson, President and CEO of Pioneer Bank & Trust, has been named to the national Community Depository Institutions Advisory Council, which meets directly with the Board of Governors of the Federal Reserve, including its Chair, Jerome Powell.
Mr. Clarkson, who was appointed to the Federal Reserve Bank of Minneapolis Community Depository Institutions Advisory Council in 2021 and now serves as its Chair, will represent that district at the Federal Reserve. In this capacity, Clarkson will provide important insights on issues and conditions that affect community depository institutions with assets of less than $10 billion.
“I am honored to serve at the national level, in a similar role to the work we do in the 9th District,” commented, Clarkson. “Community banks are the financial life-blood of this country. It is a privilege to have a seat at the table, representing our region and meeting directly with the Fed.”
The Community Depository Institutions Advisory Council (CDIAC) was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues. The seven Board Members of The Federal Reserve comprise the Federal Open Market Committee (FOMC) along with the President of the Federal Reserve Bank of New York and four of the nine Federal Reserve Bank district Presidents.
Pioneer Bank & Trust was founded by brothers F.M. and H.W. Clarkson in Buffalo, South Dakota in 1913. Today, it serves five communities at eight locations in Western South Dakota including Belle Fourche, Buffalo, Spearfish, Sturgis and Rapid City. Dylan S. Clarkson, its fourth-generation President/CEO, is also Vice Chair of the South Dakota Bankers Association, The Chair of the Board of Directors of OneHeart Rapid City, and the Conference of State Bank Supervisors – Banker Advisory Board member.