FARGO-The chairman of a bank headquartered here has accepted an appointment to a Federal Reserve Bank of Minneapolis advisory council.

Cornerstone Bank Chairman Gary Peterson was recently named to the Community Depository Institutions Advisory Council, which offers recommendations from the members who are representatives of thrifts, credit unions and banks in the 9th District. The district includes North Dakota, Minnesota, South Dakota, Montana, 26 counties in northwestern Wisconsin and Michigan's Upper Peninsula.

Peterson is chairman of the board for Cornerstone Bank as well as its parent company, Cornerstone Holding Co., which is an $820 million financial institution with locations in Bismarck, Dickinson, Fargo, Makoti, New Town, Parshall, Plaza and Watford City in North Dakota.

The company has North Dakota Cornerstone Mortgage offices in Grand Forks and Minot.

Peterson also serves on the Bank of North Dakota Advisory Board and in several committees and councils of the American Bankers Association.