Michael J. Gilfeather, president and chief executive officer of Orange Bank and Trust Company, has been elected as a Class A Director to the board of directors of the Federal Reserve Bank of New York. He will represent Group 2, which includes banks with capital and surplus between $40 million and $2 billion. His term will last three years, ending on December 31, 2028.
Orange Bank and Trust Company is an independent financial institution based in Middletown, New York. The bank provides commercial lending, business banking, and wealth management services to clients in Orange, Westchester, and Bronx counties.
Gilfeather began his career at The Bank of New York where he led retail banking operations. He later worked as executive vice president and chief administrative officer at Hudson Valley Bank with responsibilities for branch banking, trust services, and human resources.
He has served as chairman of both the New York Bankers Association and the Orange County Partnership. Currently, he is an executive committee member of the bankers’ association and a board member of the partnership. Gilfeather has also served on the boards of United Way of the Dutchess-Orange Region and the Orange Regional Hospital Foundation (now Garnet Health Foundation).
Gilfeather holds degrees from Union College and Pace University, including a Master of Business Administration.
According to the Federal Reserve Act of 1913, each Reserve Bank operates under a board of nine directors who represent their district’s interests. These directors are divided into three classes: Class A Directors represent member banks; Class B Directors and Class C Directors represent public interests. The board helps ensure that monetary policy decisions are informed by real economic conditions through their link between the Federal Reserve and the private sector.
“Ellen Simon
(347) 978-3036
Ellen.Simon@ny.frb.org”
