1st Security Bank CEO Joins Federal Reserve Bank of San Francisco's Seattle Board

Matthew Mullet appointed to the Seattle Branch Board of Directors for the Federal Reserve Bank of San Francisco.

Published on Feb. 12, 2026

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1st Security Bank of Washington announced that its CEO, Matthew Mullet, has been appointed to the Seattle Branch Board of Directors for the Federal Reserve Bank of San Francisco. Mullet will provide guidance and expertise to the board, which helps shape monetary policy for community banks and their customers in the Twelfth Federal Reserve District.

Why it matters

Mullet's appointment to the Federal Reserve's Seattle Branch Board is a recognition of his leadership and expertise in the banking industry. As a member of the board, he will have a direct influence on the monetary policies that impact 1st Security Bank and other community banks in the region, which is important for supporting the local economy.

The details

Matthew Mullet joined 1st Security Bank in 2011 as Chief Financial Officer and was promoted to CEO in 2025. Prior to 1st Security, he held the CFO role at Golf Savings Bank. Mullet started his banking career in 2000 as a financial examiner with the Washington State Department of Financial Institutions.

  • Mullet was appointed to the Seattle Branch Board of Directors for the Federal Reserve Bank of San Francisco in February 2026.

The players

Matthew Mullet

CEO and President of 1st Security Bank of Washington.

1st Security Bank of Washington

A community bank with 27 branches across Washington and Oregon, providing loan, deposit, mortgage, commercial lending, and treasury management services.

Federal Reserve Bank of San Francisco

One of 12 Reserve Banks in the Federal Reserve System that work to advance the nation's monetary, financial, and payment systems.

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What they’re saying

“It's a great honor to be chosen to sit on a board which has such an impact on the monetary policy for our community banks and their customers in our federal reserve district. I hope to provide guidance and lend my expertise to future decisions the board makes which affect our local banking community.”

— Matthew Mullet, CEO and President, 1st Security Bank (Globe Newswire)

What’s next

Mullet will begin his term on the Seattle Branch Board of Directors for the Federal Reserve Bank of San Francisco immediately.

The takeaway

Mullet's appointment to the Federal Reserve's Seattle Branch Board is a testament to his leadership and expertise in the banking industry, and will allow him to directly influence the monetary policies that impact 1st Security Bank and other community banks in the region, supporting the local economy.