Promoting strength and fairness in
the financial services marketplace

  • Contact Information
  • History
  • Our Leadership
  • State Banking Commission
  • Work With Us

Our Leadership


Ray Grace

Ray Grace

Ray Grace, Commissioner of Banks

Ray Grace is North Carolina Commissioner of Banks and oversees the regulation of banks, savings and loans, trust companies, mortgage lending, consumer finance lending, and other non-bank lenders. Grace was appointed Commissioner in 2013, after serving as Acting Commissioner since 2012.

Grace joined the U.S. Marine Corps in 1966, served in the Vietnam War from 1967 to 1968, and was honorably discharged in 1969. He graduated from Niagara University, Niagara Falls, New York, in December 1973, with a B.S. in Commerce, and began his career at the N.C Office of the Commissioner of Banks (NCCOB) as an examiner trainee on July 1, 1974. For more than forty-five years, he has dedicated his service to North Carolina, serving in various capacities at NCCOB, including Commercial Bank Examiner, Special Supervisory Examiner (responsible for supervision of troubled banks), Director of Bank Applications, Chief Deputy Commissioner and his current role - Commissioner. Until recently, he was a member of the Board of Directors of the Conference of State Bank Supervisors (CSBS), an organization of state bank supervisors in which he has long been active in various capacities, including current service on the CSBS Legislative Committee. In addition, he recently completed a two-year term as the states’ representative on the U.S. Department of the Treasury’s Financial Stability Oversight Council. Effective January 1, 2020, he agreed to serve an initial two-year term on the FDIC’s newly-formed Advisory Committee of State Regulators.


Stephanie Ryals

Stephanie Ryals

Stephanie Ryals, Chief Deputy Commissioner of Banks

Stephanie Ryals is North Carolina Chief Deputy Commissioner of Banks, overseeing Non-Depository Entities and the Banking Division. Ryals was appointed Deputy in 2017 and Chief Deputy in 2019, after serving as Director of Bank Supervision and Money Transmitters.

Ryals received a B.A. in Accounting from North Carolina State University, Raleigh, North Carolina. She was a North Carolina certified public accountant and is a graduate of the Graduate School of Banking at Louisiana State University, Baton Rouge, Louisiana. Ryals joined NCCOB in 2003 as a bank examiner. Since joining the agency, she has participated in all aspects of the examination process, including but not limited to, serving as Team Supervisor, Director of Bank Applications and Special Supervision, and Director of Bank Supervision with oversight of the Money Transmission Division. Prior to joining NCCOB, Ryals was employed for more than 12 years with a North Carolina-chartered bank, where she held various positions, including Supervisor in Retail Risk Management.


Katherine Bosken

Katherine Bosken

Katherine Bosken, Deputy Commissioner of Banks

Katherine Bosken is North Carolina Deputy Commissioner of Banks for Legal Affairs. Bosken was appointed Deputy in 2016, after serving as Bank Supervision Attorney since 2013.

Bosken graduated from the Johns Hopkins University, Baltimore, Maryland with a B.A. in Computer Science and International Relations, and from Wake Forest University School of Law, with a J.D. She has been licensed to practice law in North Carolina since 2006 and is an inactive member of the Maryland bar. Bosken started her career in private practice, handling a wide range of litigation matters with a North Carolina law firm, and has litigated matters in federal and state courts in both North Carolina and Maryland. She has focused her practice on depository issues since 2010 and is responsible for advising and counseling the Commissioner and staff on policy matters regarding depository and non-depository supervision.

State Banking Commission Members

The State Banking Commission supervises, directs and reviews the activities of the Office of the Commissioner of Banks under the North Carolina Banking Laws. The State Banking Commission, which consists of the State Treasurer and 14 appointed members, meets routinely to review any matters before the Office of the Commissioner of Banks.

Portraits by: Jimmy Allen Photography