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 banks, which are defined as those with capital and surplus greater than $40 million but less than $2 billion. His term will last three years, ending 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 started his career at The Bank of New York leading retail banking operations. He later worked as executive vice president and chief administrative officer at Hudson Valley Bank, where he managed branch banking, trust services, and human resources.
He previously 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. He has also been involved with organizations such as the United Way of the Dutchess-Orange Region and the 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 directors composed of nine members who represent their district’s interests. These directors are divided into three classes: Class A represents member banks; Classes B and C represent public interests. The directors provide expertise that helps guide policy decisions by ensuring they reflect actual economic conditions.
For more information or inquiries regarding this announcement, contact Ellen Simon at (347) 978-3036 or Ellen.Simon@ny.frb.org.
