For immediate release

Contact: Daneil Mazone, Media Relations

Philadelphia, PA — The Federal Reserve Bank of Philadelphia announces the reappointment of Anthony Ibargüen, chief executive officer of Quench USA, Inc., as chair of the board of directors. Sharmain Matlock-Turner, president and chief executive officer of the Urban Affairs Coalition, was renamed deputy chair.

Randall E. Black, president and chief executive officer of Citizens Financial Services, was reappointed as a Class A director. Bret Perkins, senior vice president of external and government affairs at Comcast Corporation, was reappointed as a Class B director. William Lo, president and founder of Crystal Steel Fabricators, Inc., was reappointed as a Class C director.

The Federal Reserve Bank of Philadelphia’s nine-member board of directors oversees Bank operations, offers observations on economic conditions, establishes the Bank’s discount rate, and is a link between the Federal Reserve and the communities in the Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware. In keeping with the Federal Reserve Act, District member banks elect three Class A directors to represent banking and three Class B directors to represent the public, while the Board of Governors appoints three Class C directors, including the chair and deputy chair of the board, to represent the public. Neither Class B nor Class C directors may be directors or officers of a bank or bank holding company, and Class C directors may not have any financial interests in such organizations.