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To: Richard Mazzarella who wrote (62734)	1/17/2001 8:21:34 AM
From: long-gone	Read Replies (1) \| Respond to of 116764

He'll assure the loans are to risky Amarillo, Texas, Bank CEO May Be Choice to Lead FDIC MoneyNews.com Wires January 16, 2001 The magazine American Banker is reporting that Don Powell, president and CEO of the First National Bank of Amarillo, is President-elect Bush's choice to lead the Federal Deposit Insurance Corp. Despite repeated attempts to reach him, Powell was unavailable for comment by press time, but others in the banking community said they hope the reports are true. "I surely hope they are because I just think Don is an exceptional individual," said C.C. Burgess, chairman of the board of Herring Bancorp Inc. "I think he'll do an excellent job. Don is known at doing a good job at whatever position he functions in," he said. If Powell does get the nomination, Burgess said, it would mean good things for Amarillo and Texas. "I think it brings an image to Amarillo that would be fantastic. Don Powell has been a very important force in Amarillo, and I think he'll do an excellent job at heading the FDIC. He represents the community well, he represents the state well, and he is recognized and respected by all banking circles," he said. The current FDIC chairman is Donna Tanoue, who had been a partner in a Hawaiian law firm, specializing in banking, real estate finance and governmental affairs. She was a state banking official in Hawaii. She took office May 26, 1. She oversees an agency that manages deposit insurance funds totaling more than $40 billion. The agency operates with a budget of $1.1 billion, primarily to examine and supervise nearly 5,700 banks from its nearly 100 offices around the country. The agency was created in 133 to maintain public confidence in the banking system after runs on banks to withdraw deposits during the Depression created numerous economic problems. The agency now insures deposits in banks and thrift institutions up to $100,000. An aide in the Bush transition office in Washington said the office does not comment on speculation about appointments. Then-Gov. Bush appointed Powell to the Texas A&M University System board in 15. Powell was elected chairman in 17 and re-elected in 1. Powell's banking career started in 163 with First Federal Savings & Loan Association of Amarillo. He moved to the former First National Bank in 171 and rose through the ranks to chairman and chief executive in 17, holding that post until 17 when the bank, then Boatmen's First National Bank, was acquired by NationsBank Corp., which later merged into Bank of America. A few months after that, he purchased Fritch State Bank, changed its name and charter to First National Bank of Amarillo and moved the main office to Amarillo. (c) 2001, Amarillo Globe-News, Texas. Distributed by Knight Ridder/Tribune Business News. newsmax.com