To: All Member Banks of the Third Federal Reserve District

Subject: Nomination and Election of Reserve Bank Directors

In accordance with the provisions of Section 4 of the Federal Reserve Act and Circular Letter 5790, dated September 1, 2026, an election is being conducted to determine successors for the following directors:

  • Class A Director, Randall E. Black, president and chief executive officer, Citizens Financial Services, Inc., Mansfield, Pennsylvania, will be completing his term at the end of this year and is not eligible for reelection.
  • Class B Director, Bret Perkins, senior vice president, external and government affairs, Comcast Corporation, Philadelphia, Pennsylvania, will be completing his term at the end of this year and is not eligible for reelection.

Election Process:

Elections are now open for Third District Member Banks to elect directors of the Federal Reserve Bank of Philadelphia for terms that will begin January 1, 2027. Please note that Group 1 Banks, consisting of member banks having a combined capital and surplus of $100 million or greater, will not be participating in this election since there are no director terms up for election by this group.

Group 2 Banks, consisting of member banks having a combined capital and surplus of less than $100 million and greater than $10 million, will nominate and elect one Class A director for a three-year term. The following individual was nominated for this position:

  • Jeffrey A. Stopko, president and chief executive officer, AmeriServ Financial, Inc., Johnstown, Pennsylvania

Group 3 Banks, consisting of member banks having a combined capital and surplus of $10 million or less, will nominate and elect one Class B director for a three-year term. The following individual was nominated for this position:

  • Brian Schaller, president, Wawa, Inc., Wawa, Pennsylvania

Biographies of the candidates and names of the banks that nominated them are listed herein in Attachment 1. 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. A list of member banks in each classification can be found in the Member Bank Classifications section below. When two or more banks are subsidiaries of the same holding company, only one of them may vote in this election.

Each bank eligible to vote will receive an email that will contain a LOGIN ID and PASSWORD for online voting. Online voting will begin Thursday, October 1, 2026, and must be completed by 2:00 p.m. on Thursday, October 15, 2026, by a duly authorized officer of the bank. If you receive a message that your bank is ineligible, you may need to designate an authorized voter. To do so, please contact the Office of the Secretary to obtain a form for such purpose. After the polls close, the online ballots will be tallied, and results of the election will be announced.

While banks in Group 1 will not vote in this election, access to the election website is available for their information.

Sincerely,
Erin Mierzwa
Corporate Secretary

Additional Information:

Inquiries concerning this circular letter should be directed to the Office of the Secretary:

Member Bank Classifications

Group 1 — Combined Capital and Surplus $100 million or greater
Financial Institution Name City State
TD Bank USA, National Association Wilmington DE
TD Bank, National Association Wilmington DE
U.S. Bank Trust, National Association Wilmington DE
OceanFirst Bank, National Association Toms River NJ
Wells Fargo Delaware Trust Company, National Association New York NY
Citizens & Northern Bank Wellsboro PA
CNB Bank Clearfield PA
Customers Bank Malvern PA
First Citizens Community Bank Mansfield PA
Fulton Bank, National Association Lancaster PA
Orrstown Bank Harrisburg PA
Univest Bank and Trust Co. Souderton PA
The Bancorp Bank, National Association Sioux Falls SD
Group 2 — Combined Capital and Surplus less than $100 million and greater than $10 million
Financial Institution Name
 City State
ADP Trust Company, National Association Wilmington DE
Alvarez & Marsal Trust Company, National Association Wilmington DE
Citicorp Trust Delaware, National Association New Castle DE
Evercore Trust Company, National Association Wilmington DE
The Goldman Sachs Trust Company, National Association Wilmington DE
HSBC Trust Company (Delaware), National Association Wilmington DE
Stifel Trust Company Delaware, National Association Greenville DE
American Bank Allentown PA
AmeriServ Financial Bank Johnstown PA
Asian Bank Philadelphia PA
Atlantic Community Bankers Bank Camp Hill PA
The Bank of Landisburg Landisburg PA
Ephrata National Bank Ephrata PA
The Glenmede Trust Company, National Association Philadelphia PA
Vanguard National Trust Company, National Association Malvern PA
Woodlands Bank Williamsport PA
Group 3 — Combined Capital and Surplus $10 million or less
Financial Institution Name City State
Bessemer Trust Company of Delaware, National Association Wilmington DE
The Brown Brothers Harriman Trust Company of Delaware Wilmington DE
Key National Trust Company of Delaware Wilmington DE
Neuberger Berman Trust Co of Delaware, National Association Wilmington DE
First National Bank of Absecon Absecon NJ
Newfield National Bank Newfield NJ
Pennsville National Bank Pennsville NJ
The First National Bank of Elmer Elmer NJ
The First National Bank & Trust Company of Newtown Newtown PA
First Northern Bank and Trust Company Palmerton PA
Fleetwood Bank Fleetwood PA
The Haverford Trust Company Radnor PA
The Honesdale National Bank Honesdale PA
Jim Thorpe Neighborhood Bank Jim Thorpe PA
Milton Savings Bank Milton PA
The National Bank of Malvern Malvern PA
The Neffs National Bank Neffs PA
New Tripoli Bank New Tripoli PA
Turbotville National Bank Turbotville PA