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News Release 2012-174 | December 12, 2012

OCC Renews Mutual Savings Association Advisory Committee, Will Host Inaugural Meeting on January 16

WASHINGTON — The Office of the Comptroller of the Currency has renewed the charter for the Mutual Savings Association Advisory Committee (MSAAC) and will host the first meeting of the MSAAC on Wednesday, January 16, 2013, in Washington, D.C.

The MSAAC will provide advice to the Comptroller of the Currency about mutual savings associations and will assess the current condition of mutual savings associations, regulatory changes that may ensure the health and viability of mutual savings associations, and other issues affecting these institutions.

The committee includes officers and directors of mutual savings institutions of all types, sizes, operating strategies, and geographic areas, as well as two representatives from Federal savings associations in a mutual holding company structure.  Members include: 

  • Martin Connors, President and Chief Executive Officer (CEO) of Rollstone Bank & Trust, Fitchburg, Massachusetts; 
  • David Ferries, a director, President and CEO of First Federal Savings Bank, Sheridan, Wyoming; 
  • C. Alan Horner, President, CEO, and Chairman of the board of First Federal Savings of Twin Falls, Twin Falls, Idaho; 
  • Thomas Kemly, President and CEO of Columbia Bank, Fair Lawn, New Jersey; 
  • Paul Mackin, President and CEO of Think Mutual Bank, Rochester, Minnesota; 
  • Martin Neat, President and CEO of First Shore Federal Savings and Loan Association, Salisbury, Maryland; 
  • Michael Nolan, Chairman and President of Fifth District Savings Bank, New Orleans, Louisiana; 
  • Margaret Smith, a director, President, and CEO of First Federal Savings of Middletown, Middletown, New York; 
  • Steve Swiontek, Chairman, President, and CEO of Gate City Bank, Fargo, North Dakota; and 
  • Paul Thompson, President of First Federal Savings and Loan Association, Newark, Ohio.

The agenda for the first MSAAC meeting includes discussing the status of the mutual savings association industry and current topics of interest to the industry.  The meeting will be held at OCC’s headquarters at 400 7th Street, SW, Washington, D.C. 20219.  The meeting is open to the public and will begin at 8:30 a.m.  Members of the public may submit written statements to the MSAAC no later than January 4, 2013, by: 

  • Emailing; or 
  • Mailing statements in triplicate to: Donna Deale, Designated Federal Official, Office of the Comptroller of the Currency, 400 7th Street, SW, Washington, DC  20219.  

The meeting will be held in a secured facility with limited space.  Members of the public who plan to attend or require assistance must contact the OCC by email at or by telephone at (202) 874-5020 by 5:00 p.m. (Eastern) on January 4, 2013, and provide their full name, email address, and organization.  Upon arrival on the day of the meeting, attendees will be required to present proof of identification (driver’s license or other government-issued photo identification).

The MSAAC was originally chartered by the Office of Thrift Supervision (OTS).  Responsibilities for supervising federal savings associations, including mutual savings associations, transferred to the OCC on July 21, 2011, in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.  The MSAAC will generally meet two to three times a year to discuss issues of importance to mutual savings associations and provide advice and recommendations to OCC.

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Bryan Hubbard
(202) 649-6870