The Federal Deposit Insurance Corp. may finally be getting a fifth member, who would bring its board to full strength for the first time since 1992.

Joe Neely, Mississippi's banking commissioner, is the front-runner, though no nomination has been announced by the White House. Mr. Neely's name first surfaced in December, but his selection now would make sense. There are two bills pending in Congress that would expand the board to six seats by adding a state regulator.

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