For immediate release

Contact: Kelly Antonacci, Media Relations

Philadelphia, PA — The Federal Reserve Bank of Philadelphia today announced the appointment of two new members to its Community Depository Institutions Advisory Council (CDIAC).

Mark W. Jaindl, chief executive officer and chairman of the board of American Bank, and Gregory Matuson, president and chief executive officer of Sturdy Savings Bank, began three-year terms on the CDIAC in October 2024.

About Mark W. Jaindl

Jaindl has been chief executive officer of American Bank since 1997, chairman of the board of American Bank Incorporated and American Bank since April 2004, and president and chief executive officer of American Bank Incorporated since its formation in 2001. American Bank is a locally owned community bank, headquartered in Allentown, PA, with approximately $929 million in assets.

Jaindl is trustee for the Jaindl Foundation, a philanthropic organization benefiting charitable causes in the Lehigh Valley.

About Gregory Matuson

Matuson has been with Sturdy Savings Bank in Stone Harbor, NJ, for 24 years. He was promoted to president and chief executive officer in January 2023. Matuson was originally hired as an internal auditor and has served as finance department manager, vice president and controller, executive vice president and chief financial officer, and executive vice president and chief operating officer.

Matuson began his career in finance and accounting at Ford, Scott & Associates in Ocean City, NJ.

About CDIAC

The 12-member advisory council is composed of representatives from commercial banks, thrift institutions, and credit unions. The group convenes twice a year with officials from the Federal Reserve Bank of Philadelphia to share insights about economic and business trends facing community depository institutions in their local markets. After each local meeting, a representative from the Philadelphia council joins counterparts from other Federal Reserve Banks at a meeting hosted by the Board of Governors of the Federal Reserve System in Washington, D.C.

About the Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy; supervises state member banks, bank holding companies, and savings and loan holding companies; and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.