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 5740, dated October 15, 2018, an election is being conducted to determine successors for the following directors:

David Hunsicker, President, Chairman and Chief Executive Officer, New Tripoli Bank, New Tripoli, PA, is completing his second term as a Class A, Group 3 director. He is not eligible for reelection. Group 3 banks will elect his successor to serve a three-year term beginning on January 1, 2019.

Carol Johnson, Retired President, AlliedBarton Security Services, Conshohocken, PA, is completing her first term as a Class B, Group 1 director. Johnson will not stand for reelection. Group 1 banks will elect the director to fill this position, which will begin a three-year term on January 1, 2019.

The names of the candidates nominated and the banks that made the nominations are listed herein.  (176 KB, 2 pages) A brief biographical sketch of each candidate is also provided. A ballot and envelope to use for voting are enclosed for banks in Groups 1 and 3. Voting using 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.  (104 KB, 3 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:

  1. Mark the preferential ballot.
  2. Place the ballot in the colored "ballot" envelope and seal the envelope. To keep the ballot confidential, the name of neither the bank nor the voting officer should be written on the ballot or the envelope.
  3. Place the colored "ballot" envelope inside the white voting envelope. Fill out the front of the white voting envelope and seal it.
  4. 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 19, 2018, and will close at 12:00 noon on December 4, 2018. For your vote to count, it must be received here at the Bank by the time the polls close.

At 12:00 noon on December 4, 2018, 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.

Additional information:

Inquiries concerning this circular letter should be directed to Marla Chazin, Office of the Secretary, at (215) 574-3838.