To: All Member Banks in the Third Federal Reserve District
Attention: Chief Executive Officer
Subject: Nomination and Election of Reserve Bank Directors
In accordance with the provisions of Section 4 of the Federal Reserve Act and Circular Letter 5720, dated October 9, 2014, an election is being conducted to determine successors for the following directors:
Rosemary Turner, President, UPS-Oakland, is completing her first term as Class B, Group 1 director. Due to Ms. Turner's relocation to Oakland, CA, she will not run for reelection. Group 1 banks will elect the director to fill this position, which will fill the unexpired term ending December 31, 2015, and fill a three-year term beginning on January 1, 2016.
Patrick Harker, President of the University of Delaware, is completing his first term as Class B, Group 3 director. He is eligible for reelection and is willing to continue service if elected. Group 3 banks will elect the director to fill this position, which will begin a three-year term on January 1, 2015.
Frederick "Ted" Peters III, Chairman, President, and CEO, The Bryn Mawr Trust, Bryn Mawr, PA, is completing his second term as a Class A, Group 2 director. He is not eligible for reelection. Group 2 banks will elect the director to fill this position, which will begin a three-year term on January 1, 2015.
The names of the candidates nominated and the banks that made the nominations are listed herein. (56 KB, 3 pages) A ballot and two envelopes to use for voting are enclosed for each bank in Groups 1, 2, and 3. The ballot and white voting envelope must be executed by an officer of your bank who has been authorized to vote.
A list of banks in each group and the officers authorized to vote is included herein. (36 KB, 4 pages) The group in which a member bank is entitled to vote is determined by its classification using the most recent quarterly data available, even though its capital and surplus may change before the polls close. When two or more banks are subsidiaries of the same holding company, only one of them may vote in this election.
Action required to vote:
- Mark the preferential ballot.
- Place it in the colored "ballot" envelope and seal. To keep the ballot confidential, the name of neither the bank nor the voting officer should be written on the ballot.
- Place the colored "ballot" envelope in the white voting envelope. Fill out the front of the white voting envelope and seal it.
- Return the white voting envelope containing the colored "ballot" envelope to this Bank. For your convenience, a self-addressed envelope is enclosed.
The Federal Reserve Act allows 15 days for balloting. The polls will open on November 17, 2014, and will close at noon on December 2, 2014. For your vote to count, it must be received here at the Bank by the time the polls close.
At noon on December 2, 2014, the ballot box will be opened, and the envelopes containing the ballots will be opened. The votes will be counted, and the results of the election will be announced. The candidates are invited to be present or represented on that occasion.
Inquiries concerning this circular letter should be directed to Linda O’Donnell, Assistant to the Corporate Secretary, at (215) 574-6389.