Gerald Jacobson and Paul Williams have been elected to the Federal Reserve Bank of Minneapolis’ board of directors, for terms beginning Jan. 1, 2021.

Jacobson, president of Northwestern Bank in Chippewa Falls, Wis., was elected by the member banks as a Class A (banker) director and will serve a three-year term. Jacobson joined Northwestern Bank in 1978 as an auditor. Prior to becoming president of Northwestern Bank, Jacobson served as chief operating officer.

Jacobson is succeeding Class A director Tom Armstrong, senior vice president and market president of Forward Bank in Park Falls, Wis. Armstrong’s term will end on Dec. 31, 2020.

The Class A group of directors is elected to the board of directors by member banks to represent member banks and includes Jeanne Crain, president and chief executive officer of Bremer Financial Corp., St. Paul, and Brenda K. Foster, chairman, president, and chief executive officer of First Western Bank and Trust, Minot, N.D.

Williams, president and chief executive officer of Project for Pride in Living in Minneapolis, was elected by member banks as a Class B (nonbanker) director and will serve a three-year term. Prior to joining Project for Pride in Living, Williams served as deputy mayor of St. Paul.

Williams is succeeding Class B director Kathleen Neset, president of Neset Consulting Service, Tioga, N.D. Neset’s term will end on Dec. 31, 2020.

The Class B group of directors is elected by member banks to represent the public and includes David Emery, retired chairman and chief executive officer of Black Hills Corp., Rapid City, S.D., and Sarah Walsh, chief operating officer of PayneWest Insurance, Helena, Mont.