For immediate release: January 16, 2019
Katherine A. Crosby, chairman of Fidelity Bank, and David T. Darragh, president and chief executive officer of Reily Foods Company, have been appointed, and Art E. Favre, founder, president, and chief executive officer of Performance Contractors Inc., has been reappointed to the board of directors of the Federal Reserve Bank of Atlanta's New Orleans Branch. Their terms began January 1, 2019, and run through December 31, 2021.
Crosby has served as chairman of Fidelity Bank since 2010 and a director of Fidelity Bank since 2003. She was president of Homestead Title Corporation from 2007 to 2009. She began her career as a congressional correspondent for former United States Congresswoman Lindy Boggs. She then worked as a portfolio assistant at Waters Parkerson & Co. Inc.
Crosby earned a bachelor's degree in business administration from Vanderbilt University in 1983 and an MBA from Tulane University in 2007.
Crosby is board chair of LCMC Health and serves on the boards of Children's Hospital of New Orleans, Poydras Home, Touro Infirmary, and WYES-TV. She is a former board chair of Habitat for Humanity and former president of the Junior League of New Orleans. Crosby was named to the New Orleans CityBusiness Women of the Year list in 2006 and 2013. She was named YLC Role Model in 2011 and was named to the New Orleans Magazine Top 10 Female Achievers in 2011. She received the New Orleans CityBusiness Money Makers Award in 2011 and was a New Orleans Regional Leadership Institute Graduate in 2001.
Darragh has served as president and chief executive officer of Reily Foods Company since 2006. Before joining Reily Foods, he was with Zatarain's as president from 2003 to 2006 and director of marketing from 1998 to 2003. Darragh was senior marketing manager for Nestle from 1993 to 1998, marketing manager for E&J Gallo Winery in 1993, and assistant marketing manager for Quaker Oats from 1998 to 1991.
Darragh earned his bachelor's degree in 1988 and his MBA in 1993, both from Northwestern University.
Darragh is vice chairman of the Business Council of New Orleans and the River Region as well as the Metropolitan Crime Commission. He is a board member of the Grocery Manufacturers Association, the National Coffee Association of USA Inc., and Isidore Newman School. Darragh is on the advisory board for IBERIABANK Corporation and a former chairman of The Idea Village and the Preservation Resource Center.
Favre has served as founder, president, and chief executive officer of Performance Contractors Inc. since 1979 and vice president of Universal Corporation in Baton Rouge from 1973 to 1979.
Favre serves as director on the LSU Construction Industry Advisory Council for the Department of Construction Management and director and vice chair of the Mary Bird Perkins-Our Lady of the Lake Cancer Center Board of Directors and the Pennington Biomedical Research Center Foundation Board. He is also an executive committee member and past chair of the Louisiana Association of Business and Industry. He is a member of the Dean's Advisory Council of the LSU College of Engineering, the American Association of Cost Engineers, Associated Builders and Contractors, Blueprint Louisiana, and the Louisiana Construction Education Foundation.
Favre received his bachelor's degree in construction management from Louisiana State University and was selected the 2018 LSU Alumnus of the Year. He has won the Associated Builders & Contractors Pinnacle Award, the National Safety Award, and the Associated Builders & Contractors National Excellence in Construction Award. He was Junior Achievement Business Person of the Year and won the Baton Rouge Business Award, entering its Hall of Fame in 2012.
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 discussing monetary policy options and making discount rate recommendations. Darragh and Crosby were appointed by the Atlanta Fed's board of directors. Favre was reappointed by the Board of Governors to serve a three-year term after completing an unexpired term. The Board of Governors appoints three of the directors of the New Orleans Branch, and the Atlanta head office directors appoint four.