Manasquan Bank’s chair, CEO and president, James Vaccaro, has been named to the Federal Reserve Board’s Community Depository Institutions Advisory Council, the Wall Township-based bank announced Tuesday.
About Manasquan Bank
Manasquan Bank, a mutual community bank with consolidated assets of $2.8 billion, is headquartered in Wall Township. The bank has been serving New Jersey residents since 1874 and continues to pioneer the future of banking with both traditional and digital solutions. The bank offers a full line of personal & business services, and operates 15 branch locations throughout Middlesex, Monmouth & Ocean counties.
The CDIAC provides advice and guidance on the economy, lending conditions and other issues affecting institutions with assets of less than $10 billion. It is composed of representatives from commercial banks, thrifts and credit unions from the 12 Federal Reserve Banks throughout the U.S.
Vaccaro will serve a three-year term beginning in 2023.
“It is an honor to be appointed to this prestigious national council and represent Manasquan Bank and Federal Reserve District 2 within the Federal Reserve System,” Vaccaro said in a prepared statement. “I look forward to making meaningful contributions to this important advisory board.”