To: All Member Banks in the Third Federal Reserve District

Attention: Chief Executive Officer

Subject: Election Results and Other Appointments

Summary:

We are pleased to announce the following election results:

  • Eugene W. Rogers, CEO & Director, Newfield National Bank, Newfield, New Jersey, has been elected a Class A director by member banks in Electoral Group 3.
    Mr. Rogers' term will begin January 1, 2004.

We are pleased to announce the following appointments that were made by the Board of Governors of the Federal Reserve System and are effective January 1, 2004:

  • Ronald J. Naples, Chairman & CEO, Quaker Chemical Corporation, Conshohocken, Pennsylvania, has been appointed Chairman of the Board of Directors.
  • Doris M. Damm, President & CEO, ACCU Staffing Services, Cherry Hill, New Jersey, has been appointed Deputy Chairman of the Board of Directors.
  • William F. Hecht, Chairman, President & CEO, PPL Corporation, Allentown, Pennsylvania, has been appointed a Class C director.

Our Board of Directors made the following re-appointment:

  • Rufus A. Fulton, Jr., Chairman and Chief Executive Officer, Fulton Financial Corporation, Lancaster, Pennsylvania, has been re-appointed by the Board of Directors of this Reserve Bank to represent the Third District on the Federal Advisory Council during 2004.

FEDERAL RESERVE BANK OF PHILADELPHIA BOARD OF DIRECTORS 2004

  • Ronald J. Naples, Chairman
    Chairman & CEO
    Quaker Chemical Corporation
  • Doris M. Damm, Deputy Chairman
    President & CEO
    ACCU Staffing Services
  • Robert E. Chappell
    Chairman & CEO
    The Penn Mutual Life Insurance Company
  • Walter E. Daller, Jr.
    Chairman, President & CEO
    Harleysville National Corporation
  • William F. Hecht
    Chairman, President & CEO
    PPL Corporation
  • Garry L. Maddox
    CEO
    A. Pomerantz & Company
  • Eugene W. Rogers
    CEO & Director
    Newfield National Bank
  • Kenneth R. Shoemaker
    President, CEO & Director
    Orrstown Bank
  • P. Coleman Townsend, Jr.
    Chairman & CEO
    Townsends, Inc.

Additional Information: Inquiries concerning this circular letter should be directed to Linda O’Donnell, Assistant to the Corporate Secretary, at (215) 574-6439 or Linda.ODonnell@phil.frb.org.