Hewitt shares small town banking perspective as member of the Federal Reserve Bank of Chicago

 Mark Hewitt takes pride in being a local banker. He also takes pride in his recent service to a larger financial entity, serving as a board member of the Federal Reserve Bank of Chicago.

 The Federal Reserve is actually the nation’s central bank, helping to formulate 

national monetary policy while also servicing and regulating state-chartered banks that are members of the Federal Reserve System.
Hewitt describes his election to the Federal Reserve Board as “a big honor and fantastic role” although it was not one he envisioned or strongly pursued.
His predecessor, Jeff Plagee, was also an Iowa banker. As Plagge’s term was ending on the Board, he encouraged Hewitt, president and CEO of Clear Lake Bank & Trust, to consider making a run for the position. In a contested election, Hewitt won the three-year board term over two Illinois bankers. A short time later he was at the Board Room table sitting beside business moguls such as the chairman of All-State Insurance, Motorola, USG Corp. and others.
“It was fun to rub elbows with them,” said Hewitt, one of only three bankers on - Read More Via e-Edition