John H. Buhrmaster Reelected as a Class A Director to New York Fed Board of Directors

NEW YORK-The Federal Reserve Bank of New York announced that John H. Buhrmaster, chairman and chief executive officer of 1st National Bank of Scotia, has been reelected as a Class A Director representing Group 3. Class A directors represent banks in the New York Fed's region. Buhrmaster was reelected by member banks in Group 3, which are member banks with capital and surplus of less than $40 million. Buhrmaster will serve a three-year term ending December 31, 2029.

Buhrmaster is the chairman and chief executive officer of 1st National Bank of Scotia, a 103-year-old community bank located in Scotia, NY, serving urban, suburban, and rural consumers and businesses in the Capital Region of New York State. Buhrmaster is a fourth-generation banker who joined the bank in 1986 as a teller. Since then, he has served the bank in many capacities, including indirect lending manager, credit administration manager, compliance officer, senior technology officer, senior lending officer, and president.

Buhrmaster served as chairman of the Consumer Financial Protection Bureau's Community Bank Advisory Council (CBAC) and chair of the CBAC's Mortgage and Small Business Subcommittee. He is a former national chairman of the Independent Community Bankers of America (ICBA) and previously served as chairman of various ICBA committees, including many years on the Payments & Technology Committee and as chairman of ICBA Bancard. He is a current board member and a past chairman of the Independent Bankers Association of New York State and is an active member of the New York Bankers Association currently serving on the Legislative & Regulatory Policy Committee.

An original mentor for the Little Rock Venture Center's community bank technology accelerator programs for Fidelity Information Services (FIS) and ICBA, Buhrmaster is active in the fintech community as an advisor and as a presenter at industry events. He sits on the FIS Core Banking Strategic Planning Advisory Council and serves as a director of ICBA CRA Solutions and the Senior Housing Crime Prevention Foundation Investment Corporation, which provides programs to low- and moderate-income senior housing, veterans, and Housing and Urban Development (HUD) properties to prevent elder abuse. He served as a director of TCM Bank NA, a credit-card-only bank, as a judge for his alma mater Syracuse University's annual Capstone presentations, and has testified multiple times before the House and Senate regarding community bank and consumer issues.

Buhrmaster remains active in his community, currently serving on, or having served on numerous community boards and committees. He is a dedicated advocate for financial literacy, a former school board member for the Niskayuna Central School District, and a current and founding board member of Better Community Neighborhoods Inc., a nonprofit organization that promotes financial literacy and home ownership in underserved areas.

About the Reserve Banks' Boards of Directors
The Federal Reserve Act of 1913 requires each of the Reserve Banks to operate under the supervision of a board of directors. Each Reserve Bank has nine directors who represent the interests of their Reserve District and whose experience provides the Reserve Banks with a wider range of expertise that helps them fulfill their policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A Directors represent the member banks in the District; Class B Directors and Class C Directors represent the interests of the public. The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Fed's decisions on monetary policy are informed by actual economic conditions.