Gabremariam Reappointed and Rowe Appointed to Federal Reserve Bank of Atlanta's Jacksonville Branch Board of Directors

For immediate release: Jan. 11, 2006

Fassil Gabremariam, president and founder of U.S.-Africa Free Enterprise Education Foundation, has been reappointed to serve on the board of directors of the Federal Reserve Bank of Atlanta’s Jacksonville Branch, and Alan Rowe, president and chief executive officer of First Commercial Bank of Florida, has been appointed to the board of directors of the Atlanta Fed’s Jacksonville Branch. Their terms began Jan. 1, 2006, and run through Dec. 31, 2008.

Gabremariam has more than 30 years of senior financial management experience in the telecommunications and information technology industry. He was vice president of finance and treasurer of intermedia communications. He served as vice president of finance with GTE Corp. for over 25 years in both domestic and international assignments. Gabremariam served as commissioner of the Tampa Port Authority from 1994 to 2001. He has served on the boards of the Technology Board of Enterprise Florida, the University Community Hospital and the United Way.

Gabremariam earned a bachelor’s degree in accounting from Brigham Young University and an MBA from the University of Chicago.

Rowe began his career in banking working for SunTrust and C&I Bank in various positions. He served as president and chief executive officer of Commercial State Bank of Orlando for almost five years. He joined United American Bank of Central Florida in 1993. In 1999, he helped charter First Commercial Bank of Florida. He is a director of the Florida Bankers Association, a member of the board of governors of the Orlando Regional Chamber of Commerce and a director of the Better Business Bureau of Central Florida Inc.

Rowe earned a bachelor’s degree in business from Liberty University and an MBA from the University of Memphis.

Federal Reserve Bank of Atlanta Branch directors provide economic information from the branch territory to the district Bank’s president and head office directors, who use the information in formulating monetary policy and making discount rate recommendations. Rowe was appointed by the Atlanta head office directors. Gabremariam was appointed by the Federal Reserve Board of Governors in Washington, D.C. The Board of Governors appoints three of the directors of the Jacksonville Branch, and the Atlanta head office directors appoint four.

Contact: Jean Tate 404-498-8035