“The Federal Reserve Board would be well-served by someone with community bank experience,” – Senator King, May 2014

WASHINGTON, D.C. – U.S. Senator Angus King (I-Maine) today applauded the President’s announcement that he intends to nominate Allan R. Landon, a candidate with strong community bank experience, to serve on the Board of Governors of the Federal Reserve System. Senator King had previously urged the President to nominate an individual with such experience, and last May, Senator King secured an endorsement of the idea from the Chairman of the Federal Reserve Janet Yellen.

“Community banks are often the financial cornerstones of small towns and cities across America, providing much of the capital that helps power our economy forward. That’s why it’s so important that their interests – and the interests of the millions of Americans they serve every year – are well-represented on the Federal Reserve Board,” Senator King said. “I applaud the President’s decision to nominate Mr. Landon. His community banking experience will surely go a long way in helping promote a thriving financial system that benefits all Americans. I hope the Senate will quickly consider and approve his nomination.”

Last April, Senator King, along with several of his colleagues, urged President Obama in a letter to nominate a candidate with strong community bank experience. Senator King also expressed his support for such a move to Janet Yellen, the Chairman of the Federal Reserve Board, during a Senate Budget Committee hearing last May, in which she agreed with Senator King and endorsed the idea of having someone with community bank experience serve on the Board.

President Obama announced today his intention to nominate Allan R. Landon to serve on the Board of Governors of the Federal Reserve System. Landon is a Partner in Community BanCapital and served as Chairman and Chief Executive Officer of Bank of Hawaii Corporation from 2004 to 2010. 

He served in various positions at Bank of Hawaii from 2000 to 2004, including President, Chief Operating, Financial, and Risk Officer. He served as the Chief Financial Officer of First American Corp. and its subsidiary, First American National Bank, from 1998 to 2000.  Mr. Landon worked at Ernst & Young LLP from 1970 to 1998, where he became partner in 1984.  Mr. Landon received a B.S. from Iowa State University.

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