- Associated Press - Monday, January 5, 2015

NEW ORLEANS (AP) - The board of directors of the Federal Reserve Bank of Atlanta’s New Orleans Branch has two new members.

Art E. Favre, founder and president of Baton Rouge-based Performance Contractors Inc. since 1979, is filling an unexpired term ending Dec. 31. Fred T. Stimpson, III, chief executive officer of Mobile, Alabama-based Scotch Gulf Lumber Co., began his term Jan. 1 and it runs through Dec. 31, 2017.

Favre serves as director on LSU’s Construction Industry Advisory Council for the Department of Construction Management, the executive committee of the Louisiana Workforce Investment Council and secretary of the Louisiana Association of Business and Industry.

Stimpson has served in his current position since 2009. He is a founding board member of the Coastal Land Trust and chairman of the Alabama Forestry Association.

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