To: All Member Banks and Others Concerned in the Third Federal Reserve District

Attention: Chief Executive Officer


In accordance with the provisions of Section 4 of the Federal Reserve Act and Circular Letter 5747, dated October 1, 2019, an election is being conducted to determine successors for the following directors:

William Aichele, Chairman, Univest Corporation, Souderton, PA, is completing his second term as a Class A, Group 1 director. He is not eligible for re-election. Group 1 banks will elect his successor to serve a three-year term beginning January 1, 2020.

Anthony Ibargüen, President and Chief Executive Officer, AquaVenture Holdings, Inc. and Quench USA, Inc., King of Prussia, PA, is completing his first term as a Class B, Group 2 director. Mr. Ibargüen will not stand for re-election as a Class B director. Group 2 banks will elect the director to fill this position, which will begin a three-year term on January 1, 2020.

The names of the candidates nominated and the banks that made the nominations are listed herein. A brief biographical sketch of each candidate is also provided. Please log on to the Electronic Election Tool to submit your ballots for nominees in Group 1 and Group 2 banks.

A list of banks in each group and the officers authorized to vote is included herein. 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.


The Federal Reserve Act allows 15 days for balloting. The polls will open on November 1, 2019, and will close at 12:00 noon on November 15, 2019.


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