Beach Business Bank (OTCBB: BBBC) is pleased to announce that the Federal Deposit Insurance Corporation (FDIC) has appointed the Bank's chairman, Jim Gray, as one of only 14 members on its Advisory Committee on Community Banking.
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The Advisory Committee was recently established by the FDIC Board of Directors in May. The Advisory Committee members represent a cross-section of community bankers from around the nation, including a member from academia. The Advisory Committee will provide the FDIC with advice and recommendations on a broad range of policy issues that have particular impact on small community banks from around the nation. On September 18, 2009, FDIC Chairman Sheila Bair was quoted as saying, "I look forward to working with the Advisory Committee members on this important endeavor to get valuable contributions and viewpoints to help community banks -- large and small -- to continue to weather the challenging business environment." The 14 individuals selected for the Advisory Committee represent a full spectrum of interests and perspectives on community banking. The FDIC received more than 200 applications from interested individuals to participate on the committee. The committee's first meeting is scheduled for Thursday, October 15, 2009, at FDIC headquarters in Washington, D.C. The committee will meet at least two times a year with Members serving a two-year term.
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