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Monday, Sep 26, 2022
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Sanborn Appointed to Fed’s Advisory Council

The Federal Reserve Bank of San Francisco announced that it has appointed Richard M. Sanborn, president and CEO of San Diego’s Seacoast Commerce Bank, to the Twelfth District’s Community Depository Institutions Advisory Council.

The 12 members of the council advise the Federal Reserve Bank of San Francisco and the members of the Federal Reserve Board. Greg Garrabrants, president and CEO of San Diego-based BofI Federal Bank, is also a member of the council.

Sanborn, who has more than 20 years of experience in the banking industry, has been running Seacoast since October of 2007. The bank had $569.5 million in assets as of Dec. 31.

Previous to joining Seacoast, Sanborn was executive vice president and chief banking officer for Pacific Western Bank, a Los Angeles-based commercial bank with $21 billion in assets.

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He has an associate’s degree in computer science and a bachelor’s degree in accounting from Bentley College in Waltham, Mass., and an MBA from California Pacific University.

Sanborn was one of five new appointments announced earlier this year.

Others appointed to the advisory council, on which members typically serve three-year terms, were Robert D. Ramirez, president and CEO of VantageWest Credit Union in Tucson, Andrew J. Ryback, president and CEO of Plumas Bank in Quincy, Calif., and Joseph M. Schierhorn, president and CEO of Northrop Bank in Anchorage, Alaska. Jason A. Meyerhoeffer, president and CEO of First Federal Savings Bank of Twin Falls, Idaho, was appointed to a one-year term to fulfill the term of C. Alan Horner, former president and CEO of First Federal.

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