Magazine article American Banker

Miss. Seen Naming Interim Commissioner as Incumbent Moves toward an FDIC Seat

Magazine article American Banker

Miss. Seen Naming Interim Commissioner as Incumbent Moves toward an FDIC Seat

Article excerpt

John Allison, deputy director of Mississippi's banking commission, is expected to become the state's acting commissioner once Joseph H. Neely joins the board of the Federal Deposit Insurance Corp.

Mac Deaver, executive director of the Mississippi Bankers Association, said he expects Mr. Allison - who has years of experience within the department - to serve as acting director through the coming legislative session, which begins in January. A permanent director will likely be named after the session, he said.

Mr. Neely's nomination to the FDIC's five-person board won approval from the Senate Banking Committee in September and is awaiting action by the full Senate. The former community banker from Vicksburg has been Mississippi's bank commissioner since 1992.

Though the Senate has not scheduled a vote, the office of Mississippi's governor has begun considering potential candidates to replace Mr. Neely. The commissioner's position is a political appointment.

"Sure, there are a number of names under consideration for that position, none of which I would list at this time," said Larry Daniel, director of public affairs for Gov. Kirk Fordice, a Republican who was reelected two weeks ago.

"We don't have a timetable yet as to when we'll have a selection," he said. "We just have the election behind us, and this is one of things the governor will have to consider."

Candidates for the post are required by state law to have either 10 years of banking experience, including five in a policy-making position, or 15 years of service in a state or federal regulatory post. …

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