David E. Gillan appointed to Federal Reserve Bank advisory council

The Federal Reserve Bank of Philadelphia has announced the appointment of David E. Gillan, chairman and CEO of County Bank, Rehoboth Beach, to the bank’s Community Depository Institutions Advisory Council. Gillan will begin his three-year term Friday, March 22.

The 12-member council is composed of representatives from commercial banks, thrift institutions and credit unions. CDIAC convenes twice a year in Philadelphia to share insights on economic and business trends facing community depository institutions in their local markets. Subsequent to each local meeting, a representative from Philadelphia’s council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Federal Reserve Board of Governors in Washington, D.C.

Gillan has served as chairman and CEO of County Bank since 2011. Before that, he served as the bank’s vice president and COO. He joined County Bank as a loan officer after its inception in 1990. Previously, Gillan was the marketing director at Sussex Trust, Georgetown.  He began his career there in the bank’s branch network in 1984.

Gillan is the incoming chairman of the Delaware Banker’s Association as well as a member of the Governor’s Council on Banking. Formerly, he served on the board for the YMCA of Delaware, and as the state representative on the Independent Community Bankers of America Board of Directors. Gillan graduated from the Stonier Graduate School of Banking in 1989. He received a CFP designation from the College of Financial Planning in Denver, Colo., and his bachelor’s degree from the University of Delaware.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks, and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System.