Each depositor insured to at least $250,000 per insured bank

FOR IMMEDIATE RELEASE
PR-1-96 (1-19-96)

FDIC Chairman Ricki Helfer has appointed agency veteran Simona L. Frank as Associate Director for Capital Markets and Administration in the Division of Supervision (DOS) in Washington. Separately, Acting Regional Director Michael J. Zamorski of the FDIC's New York DOS office has been promoted to Regional Director.

Chairman Helfer said: "Simona Frank and Mike Zamorski bring superb management talents and extensive regulatory and supervisory experience to their new positions. They will continue to make significant contributions toward the FDIC's goal of keeping banks open and operating soundly and safely."

Mrs. Frank, Regional Director of the Chicago Office since January 1992, will direct the Division's administrative, capital markets, specialty examination, and financial reporting activities.

Joining the FDIC in 1965, Mrs. Frank first was assigned to Madison, Wisconsin, where she was an assistant bank examiner. She became a commissioned examiner in 1972. In 1978, Mrs. Frank was selected as the Madison Region's Consumer Affairs/Civil Rights Specialist. She transferred to Dallas in 1984, and in 1989 became chief of the FDIC's newly created Special Situations Unit, coordinating bank failure resolutions in the Dallas Region. She was promoted to Assistant Regional Director in Dallas later that year, then transferred to Chicago in 1992 as Regional Director.

A native of the Midwest, Mrs. Frank is a graduate of Lawrence University in Appleton, Wisconsin, and of The Graduate School of Banking at the University of Wisconsin.

Mr. Zamorski, Deputy Regional Director of the New York Office since 1989, had been Acting Regional Director since June 1995. He replaces Nicholas J. Ketcha Jr., newly appointed DOS Director in Washington.

Mr. Zamorski will oversee FDIC's bank examination/supervision and corporate application programs for the states of New York, New Jersey, Pennsylvania, Delaware, and Maryland, plus the District of Columbia, the Commonwealth of Puerto Rico, and the U.S. Virgin Islands.

Mr. Zamorski's FDIC career dates back to 1977, when he joined the agency as an assistant bank examiner in the Philadelphia Region. He became a commissioned examiner in 1981. Subsequent assignments took him to Kansas City, Washington, and Dallas. He was one of four managers selected for the FDIC's Executive Selection and Development Program in November 1985. As Assistant Regional Director in Dallas, beginning in 1986, Mr. Zamorski oversaw examination activity for numerous troubled banks in Texas. He transferred to the New York Office in 1989.

Mr. Zamorski, a native of Wayne, Pennsylvania, is a graduate (cum laude) of Villanova University, Villanova, Pennsylvania, with a B.S. degree in economics, and of The Stonier Graduate School of Banking at Rutgers University.

Congress created the Federal Deposit Insurance Corporation in 1933 to maintain public confidence in the nation's banking system. The FDIC insures deposits at the nation's 12,000 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.