Citizens Bank of Edmond President and CEO Jill Castilla has been appointed to the Federal Reserve's 12-member Federal Advisory Council.
She will represent the Fed's Kansas City District, which includes Oklahoma, Colorado, Kansas, Nebraska, Wyoming and parts of Missouri and New Mexico.
The Federal Advisory Council meets four times a year in Washington, D.C., to consult with and advise the Federal Reserve Board of Governors on matters under the board’s jurisdiction. Castilla said she wants to bring a small-bank perspective to the Fed's decision-making.
"From an asset size standpoint, we're dominated by the larger institutions and so as a result, the political capital and and influence that the larger institutions have can exceed ours," Castilla said. "When communities unite and and we're able to really represent the voices of the communities that we represent, we can be very effective."
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Castilla is well known in the Oklahoma City metro area as the founder of the Heard on Hurd festival. She became more visible nationwide during the COVID-19 pandemic when she partnered with Mark Cuban to help small businesses apply for pandemic relief loans.
She worked various positions at the Kansas City Fed 25 years ago before leading Citizens Bank.
"I've done every job in the bank and other CEOs sitting on that council probably haven't had that same journey. So whenever we're able to talk about regulations related to cash availability or examination processes, or for credit requirements, compliance around consumer credit, I can speak to the real-world implications of that pretty easily without having to refer to staff," Castilla said. "Small bank CEOs typically have made that journey through the institution and know kind of all of the impacts immediately."