Pat Mitchell Retires as FDIC Division Director

WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today announced the monumental retirement of Patrick (Pat) Mitchell, the esteemed director of the Division of Insurance and Research (DIR).

“Pat’s intellectual prowess, wide-ranging expertise, and deep understanding of economic, banking, and policy issues have been a tremendous resource for our agency,” said FDIC Acting Chairman Travis Hill. “Whether he was analyzing risks in the banking sector or managing the FDIC’s Deposit Insurance Fund (DIF), Pat always approached his work thoughtfully and proficiently.”

Mr. Mitchell joined the FDIC in 2010 as a financial analyst, ascending through several management roles before being named division director in May 2022. He oversaw the FDIC’s work monitoring existing and emerging risks to the DIF, leading DIR’s response to the 2023 regional bank failures.

During his illustrious 15-year tenure at the FDIC, Mr. Mitchell served as Deputy Director for Risk Analysis and Pricing, Associate Director of Asset Management in the Division of Resolutions and Receiverships (DRR), and Chief of DIR’s Large Bank Pricing section. A Chartered Financial Analyst, he holds a Master of Business Administration degree from the University of North Carolina at Chapel Hill and a Bachelor of Science degree in economics from the United States Military Academy. He furthered his education by attending the Senior Managers in Government program at the Harvard Kennedy School.

Pat Mitchell’s departure marks the end of an era for the FDIC, with Acting Chairman Travis Hill commending Mitchell for his invaluable contributions over the years.