Mississippi's former banking commissioner, Joseph H. Neely,
today became a member of the Board of Directors of the Federal
Deposit Insurance Corporation (FDIC) in an official ceremony
administered by the FDIC's Executive Secretary.
"I am delighted to welcome Joe Neely to membership on the FDIC
Board," said FDIC Chairman Ricki Helfer. "Not only will Joe give
us the benefit of his community banking experience, but his
expertise as a state bank regulator will also prove invaluable. It
is terrific to have the Board now operating at full strength."
Mr. Neely said: "I am honored to join the FDIC Board. My
perspective on banking was formed at the grassroots level of the
nation's financial institutions -- in the lobbies and on the front
lines of community banks. I look forward to bringing that
perspective to the FDIC Board."
Mr. Neely began his banking career in 1977 with the Grenada
Sunburst Banking System, Grenada, Mississippi. In 1980, he joined
Merchants National Bank of Vicksburg, Mississippi, where he served
as Senior Vice President.
Mr. Neely was appointed Commissioner of the Department of
Banking and Consumer Finance for the State of Mississippi in 1992
and served in that capacity until he resigned to accept his
position on the FDIC Board. As Commissioner, he was the primary
regulator and supervisor of state-chartered banking and thrift
institutions, and also supervised state-chartered credit unions and
consumer finance companies.
A native of Grenada, Mississippi, Mr. Neely received a
Bachelor of Science degree in Business Administration and a Master
of Business Administration degree from the University of Southern
Mississippi. He is also a graduate of the Stonier Graduate School
of Banking. From 1993 to 1995, Mr. Neely served on the faculty of
the Mississippi School of Banking.
Mr. Neely and his wife, Linda, have a son, Joel, and a
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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.