To: All Member Banks in the Third Federal Reserve District

Attention: Chief Executive Officer

Subject: Nomination and Election of Reserve Bank Directors

As provided by Section 4 of the Federal Reserve Act, an election will be held to choose successors for the directors whose terms expire on December 31, 2015.

Patrick Harker, President of the University of Delaware, Newark, DE, resigned from his position on the Board as Class B, Group 3 director to accept the position of president and CEO of the Federal Reserve Bank of Philadelphia. Group 3 banks will elect the director to fill Harker’s unexpired term, which will end December 31, 2017.

David Hunsicker, Chairman, President and CEO, New Tripoli Bank, New Tripoli, PA, is completing his first term as a Class A, 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, 2016.

Action required to nominate:

Each bank in Group 3 can nominate one candidate for Class A director and one candidate for Class B director. The nomination must be made by an authorized officer and be received on or before November 2, 2015. A form for that purpose is enclosed.

For a nomination or ballot to be counted, it must be executed by an authorized officer. The voting authorizations that have been certified are shown for the banks in Groups 1, 2, and 3 in Attachment II. Any member bank that has not designated an officer or officers, or any bank that desires to change its authorization, should do so by resolution of its Board of Directors.

Eligibility criteria for Class A and Class B directors are summarized in Attachment I.

The banks comprising Groups 1, 2, and 3 are listed in Attachment II. Group 1 consists of banks having capital and surplus greater than $100,000,000. Group 2 consists of banks having capital and surplus of $10,000,000 but less than $100,000,000. Group 3 consists of banks having capital and surplus less than $10,000,000. 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 nominate and vote in this election. See Attachment III for details.

Action required to vote:

On November 6, 2015, a list of the candidates (indicating who nominated them) and a preferential ballot will be mailed to each bank in the voting group. The polls will open on November 9, 2015, and will close at 12 noon on November 23, 2015. At that time, the ballot box will be opened at this Bank, the votes counted, and the results of the election announced.

Additional information:

Inquiries concerning this circular letter should be directed to Linda O’Donnell, Office of the Secretary, at (215) 574-6389.