The Federal Reserve Board has chosen Janet Garufis, president and CEO of Montecito Bank & Trust, as president of the national Community Depository Institutions Advisory Council (CDIAC) for 2017. That council is composed of reps from the 12 regional Federal Reserve Bank CDIACs; in 2015, Garufis chaired the one for the 12th District, headquartered in San Francisco and representing a nine-state area. The national CDIAC she will preside over advises the Board of Governors of the Federal Reserve on lending conditions, the area economy, and other issues relevant to community banks in meetings held twice annually in Washington, D.C.