Century Savings CEO tapped for Philly Fed post.

Byline: Jessica Perry

The Federal Reserve Bank of Philadelphia announced two appointments to its Community Depository Institutions Advisory Council, which meets twice yearly to offer insights into the business and economic trends affecting community banks.

Vineland-based Century Savings Bank President and CEO Dave Hanrahan will share insights into South Jersey, following the Oct. 17 appointment which also included Janak Amin, president and CEO of Coatesville, Pa.-based Presence Bank.

According to the Philly Fed, the 12-member CDIAC features representatives from commercial banks, thrift institutions and credit unions. Following their two local meetings, a representative from the council meets with counterparts from other Federal Reserve Banks at a meeting in Washington, D.C., hosted by the Board of Governors of the Federal Reserve System.

"It's really good that the Federal Reserve prioritizes first-hand input from local institutions across the country," Hanrahan told NJBIZ. "I'm honored to be helping with South Jersey, community bank perspective."

A banker in the southern part of New Jersey for more than 35 years, Hanrahan assumed the CEO post at Century Savings Bank in the beginning of 2023. He joined the bank as president in 2020. Previously, he was president and CEO of Capital Bank of New Jersey for 13 years, until its sale to OceanFirst Bank in 2019.

...