Adams Appointed and Calligan and Carroll Reappointed to the Federal Reserve Bank of Atlanta's Nashville Branch Board of Directors

For immediate release: Dec. 19, 2013

Kent M. Adams, president and chief executive officer of Caterpillar Financial Services Corporation and a vice president of Caterpillar Inc., has been appointed to the board of directors of the Federal Reserve Bank of Atlanta's Nashville Branch. Kathleen Calligan, chief executive officer of the Better Business Bureau Middle Tennessee, and William (Billy) Young Carroll Jr., president and chief executive officer, SmartBank, have been reappointed to the Nashville Branch's board of directors. Adams is serving the remainder of an unexpired term, and his service began Dec. 12, 2013, and runs through Dec. 31, 2015. Calligan and Carroll's terms begin Jan. 1, 2014, and run through Dec. 31, 2016.

Adams joined Caterpillar in 1979 and has held various positions including assistant treasurer for Caterpillar Americas Co., region finance manager for North American Commercial Division, treasurer for Caterpillar Asia Pte. Ltd., and treasurer-controller for Caterpillar Brasil Ltda. In 1998, Adams was appointed vice president at Caterpillar Financial Services Corporation with responsibilities for operations in Europe and Marine divisions and, later, corporate support services, which included accounting, business excellence, human resources, information technology, risk management and corporate marketing, Caterpillar Redistribution Services Inc. and remarketing and treasury. He most recently served as executive vice president with responsibility for North American operations, including the U.S. Regions, Canada, FCC Equipment Financing Inc. and the Customer Business Center. On February 1, 2005, the Caterpillar Board of Directors named Adams a vice president, and on March 1, 2005, he was named president and chief executive officer of Caterpillar Financial Services Corporation.

Commencing January 2014, Adams will serve on the board of directors of the Financial Services Roundtable and the executive committee of the Financial Services Roundtable. Adams is the vice chair of the Nashville Area Chamber of Commerce and a member of the Nashville Agenda. He previously served as a trustee on the board of the United Way of the Middle Tennessee, the board of directors of the Adventure Science Center and the board of the Equipment Leasing and Finance Association.

Adams holds a bachelor's degree and master's degree in finance from the University of Illinois and completed the Pennsylvania State University Executive Management Program.

Calligan has served in her current position since 1995. She was president and chief executive officer of the Better Business Bureau in Huntsville, Ala., from 1985 to 1995.

Calligan is a member of Nashville Area Chamber of Commerce, National Federation of Independent Business, Music with Friends Nashville Chapter, Council of Better Business Bureaus International, Eagles Nest Fort Campbell, the American Advertising Federation and the Donelson-Hermitage Rotary. She attended Middle Tennessee State University and the University of Tennessee.

Carroll has served in his current role since 2006. He served as executive vice president and chief financial officer of Citizens National Bank in Sevierville, Tenn., from 1992 to 2006. From 1990 to 1992, he served with Kraft CPAs in Nashville, Tenn. As a licensed CPA, he worked with financial institutions on audit, tax, trust and loan review engagements.

Carroll is a member of the board of directors of SmartBank. He has served as a member of the Sevierville Planning Commission, the Sevier County Economic Development Council, the Sevierville Lions Club and East Tennessee State University Banking Advisory Board. He has been president of the Sevier County High School Foundation, the University of Tennessee Sevier County Alumni Chapter and the Sevierville Chamber of Commerce. He was chairman of United Way of Sevier County and a board member of the Mountain Hope Good Shepherd Clinic and Boys and Girls Club of the Smoky Mountains.

Carroll received his bachelor's degree in business administration with a major in accounting from the University of Tennessee in 1990.

Federal Reserve Bank of Atlanta Branch directors provide economic information from their industries and 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. Calligan was reappointed by the Federal Reserve Board of Governors in Washington, D.C. Adams was appointed and Carroll was reappointed by the Atlanta Fed's board of directors. The Board of Governors appoints three of the Nashville Branch directors, and the Atlanta head office directors appoint four.

Contact: Jean Tate 404-498-8035