Directors of Federal Reserve Banks and Branches

357

Directors of Federal Reserve Banks and Branches

The following list presents directors of Federal Re-serve Banks and Branches as of March 31, 1985, and shows the class of directorship, the principal business affiliation, and the date the term expires for each director. Each Reserve Bank has nine members on its board of directors: three Class A and three Class B directors elected by the stockholding member banks, and three Class C directors appointed by the Board of Governors of the Federal Reserve System. Directors are chosen without discrimination as to race, creed, color, sex, or national origin.

Class A directors represent the stockholding mem-ber banks in each Federal Reserve District. Class B and Class C directors represent the public and are chosen with due, but not exclusive, consideration to the interests of agriculture, commerce, industry, ser-vices, labor, and consumers; they may not be officers, directors, or employees of any bank. In addition, Class C directors may not be stockholders of any bank.

For election of Class A and Class B directors, the Board of Governors classifies the member banks of each Federal Reserve District into three groups of similar capitalization. Each group then elects one Class A and one Class B director. The Board of Governors designates one Class C director as chair-man of the board of directors and Federal Reserve Agent of each District Bank, and another as deputy chairman.

Federal Reserve Branches have either five or seven directors, a majority of whom are appointed by the board of directors of the parent Reserve Bank; the others are appointed by the Board of Governors. One of the directors appointed by the Board is designated annually as chairman of the board of that Branch in a manner the Federal Reserve Bank prescribes.

In the following list, note 1 denotes a chairman of the board; note 2, a deputy chairman; and note 3, a director whose service began in 1985.

DISTRICT 1—BOSTON

Class A

William W. Treat William S. Edgerly

Homer B. Ellis, Jr.3

President, Bank Meridian, N.A. , Hampton, New Hampshire Chairman and President, State Street Bank and Trust Company,

Boston, Massachusetts President, Factory Point National Bank, Manchester Center,

Vermont

Term expires

Dec. 31

1985 1986

1987

Class B

Matina S. Horner Richard M. Oster3

George N. Hatsopoulos

Class C

Thomas I. Atkins2

Michael J. Harrington Joseph A. Baute1

President, Radcliffe College, Cambridge, Massachusetts President and Chief Executive Officer, Cookson America, Inc.

Providence, Rhode Island Chairman of the Board and President, Thermo Electron

Corporation, Waltham, Massachusetts

Attorney, Brooklyn, New York Harrington Company, Peabody, Massachusetts Chairman and Chief Executive Officer, Markem Corporation,

Keene, New Hampshire

1985 1986

1987

1985 1986 1987

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

May 1985

358 Federal Reserve Bulletin • May 1985

DISTRICT 2—NEW YORK

Class A

Alfred Brittain III

T. Joseph Semrod

Robert W. Moyer3

Class B

William S. Cook

John R. Opel

John F. Welch, Jr.3

Class C

John Brademas1

Clifton R. Wharton, Jr.2

Virginia A. Dwyer3

Chairman of the Board, Bankers Trust Company, New York, New York

Chairman of the Board, United Jersey Bank, Hackensack, N e w Jersey

President and Chief Executive Officer, Wilber National Bank, Oneonta, New York

President and Chief Executive Officer, Union Pacific Corporation, New York, New York

Chairman of the Board, International Business Machines Corporation, Armonk, New York

Chairman of the Board, General Electric Company, Fairfield, Connecticut

President, New York University, New York, N e w York Chancellor, State University of New York System, Albany,

New York Senior Vice President-Finance, American Telephone and

Telegraph Company, New York, New York

—BUFFALO BRANCH

Appointed by Federal Reserve Bank

William Balderston III

Donald I. Wickham Herbert Fort Ross B. Kenzie3

President and Chief Executive Officer, Chase Lincoln First Bank, N.A. , Rochester, New York

President, Tri-Way Farms, Inc., Stanley, New York President, The Bath National Bank, Bath, New York Chairman of the Board, Goldome FSB, Buffalo, New York

Appointed by Board of Governors

M. Jane Dickman1

Laval S. Wilson

Joseph Yantomasi3

Partner, Touche Ross & Co., Buffalo, New York Superintendent, Rochester City School District, Rochester,

New York Western New York Area Director, United Auto Workers, Buffalo,

New York

Term expires

Dec. 31

1985

1986

1987

1985

1986

1987

1985 1986

1987

1985

1985 1986 1987

1985 1986

1987

DISTRICT 3—PHILADELPHIA

Class A

JoAnne Brinzey Chief Executive Officer and Cashier, The First National Bank at 1985 Gallitzin, Gallitzin, Pennsylvania

John H. Walther Chairman of the Board, New Jersey National Bank, Pennington, 1986 New Jersey

Ronald H. Smith3 President and Chief Executive Officer, CCNB Bank, N .A. , N e w 1987 Cumberland, Pennsylvania


May 1985

Directors of Federal Reserve Banks and Branches 359

DISTRICT 3—Continued

Class B

Eberhard Faber IV

Carl E. Singley

Charles F. Seymour3

Class C

Nevius M. Curtis2

Robert M. Landis1

George E. Bartol III

Chairman of the Board and Chief Executive Officer, Eberhard Faber, Inc., Wilkes-Barre, Pennsylvania

Dean and Professor of Law, Temple University Law School, Philadelphia, Pennsylvania

Chairman and Chief Executive Officer, Jackson-Cross Company, Philadelphia, Pennsylvania

Chairman and Chief Executive Officer, Delmarva Power & Light Company, Wilmington, Delaware

Partner, Dechert, Price and Rhoads, Philadelphia, Pennsylvania Chairman of the Board, Hunt Manufacturing Company,

Philadelphia, Pennsylvania

Term expires

Dec. 31

1985

1986

1987

1985

1986 1987

DISTRICT 4—CLEVELAND

Class A

William A. Stroud J. David Barnes

Raymond D. Campbell

Class B

John W. Kessler John R. Hall

Richard D. Hannan

President, First-Knox National Bank, Mount Vernon, Ohio Chairman and Chief Executive Officer, Mellon Bank, Pittsburgh,

Pennsylvania President and Chief Executive Officer, Independent State Bank of

Ohio, Columbus, Ohio

President, John W. Kessler Company, Columbus, Ohio Chairman of the Board and Chief Executive Officer, Ashland Oil,

Inc., Ashland, Kentucky Chairman of the Board and President, Mercury Instruments, Inc.,

Cincinnati, Ohio

Class C

Lewis R. Smoot, Sr.

W. H. Knoell1

E. Mandell de Windt2

—CINCINNATI BRANCH


Clement L. Buenger

Vernon J. Cole

President and Chief Executive Officer, The Sherman R. Smoot Company, Columbus, Ohio

President and Chief Executive Officer, Cyclops Corporation, Pittsburgh, Pennsylvania

Chairman of the Board, Eaton Corporation, Cleveland, Ohio

Sherrill Cleland Jerry L. Kirby3

President and Chief Executive Officer, The Fifth Third Bank, Cincinnati, Ohio

Executive Vice President and Chief Executive Officer, Harlan National Bank, Harlan, Kentucky

President, Marietta College, Marietta, Ohio Chairman of the Board, President, and Chief Executive Officer,

Citizens Federal Savings and Loan Association, Dayton, Ohio

1985 1986

1987

1985 1986

1987

1985

1986

1987

1985

1986

1987 1987


May 1985


DISTRICT 4—Continued Term

expires

—CINCINNATI BRANCH—Continued Dec' 1


Vacancy 1985 Robert E. Boni1 President and Chief Executive Officer, Armco Inc., Middletown, 1986

Ohio Don Ross Owner, Dunreath Farm, Lexington, Kentucky 1987

—PITTSBURGH BRANCH


A. Dean Heasley President and Chief Executive Officer, Century National Bank & 1985 Trust Co., Rochester, Pennsylvania

G. R. Rendle President and Chief Executive Officer, Gallatin National Bank, 1986 Uniontown, Pennsylvania

Charles L. Fuellgraf, Jr.3 Chief Executive Officer, Fuellgraf Electric Company, Butler, 1987 Pennsylvania

James S. Pasman, Jr. Vice Chairman, Aluminum Company of America, Pittsburgh, 1987 Pennsylvania


Robert S. Kaplan

Milton G. Hulme, Jr.1

Milton A. Washington

Professor of Industrial Administration, Graduate School of 1985 Industrial Administration, Carnegie-Mellon University, Pittsburgh, Pennsylvania

President and Chief Executive Officer, Mine Safety Appliances 1986 Company, Pittsburgh, Pennsylvania

President and Chief Executive Officer, Allegheny Housing 1987 Rehabilitation Corporation, Pittsburgh, Pennsylvania

DISTRICT 5—RICHMOND

Class A

Willard H. Derrick

Robert S. Chiles, Sr.

Robert F. Baronner3

Class B

George Dean Johnson, Jr.

Thomas B. Cookerly

Floyd D. Gottwald, Jr.3

President and Chief Executive Officer, Sandy Spring National 1985 Bank and Savings Institution, Sandy Spring, Maryland

President and Chief Executive Officer, Greensboro National Bank, 1986 Greensboro, North Carolina

President and Chief Executive Officer, One Valley Bancorp of 1987 West Virginia, Inc. and Kanawha Valley Bank, N .A. , Charleston, West Virginia

Partner, Johnson, Smith, Hibbard, Cleveland, Wildman and 1985 Dennis, Spartanburg, South Carolina

President, Broadcast Division, Allbritton Communications, 1986 Washington, D.C.

Chairman and Chief Executive Officer, Ethyl Corporation, 1987 Richmond, Virginia


May 1985



expires ^ Dec. 31 Class C

Robert A. Georgine2 President, Building and Construction Trades Department, 1985 AFL-CIO, Washington, D.C.

Leroy T. Canoles, Jr.1 President, Kaufman and Canoles, Norfolk, Virginia 1986 Vacancy 1987

—BALTIMORE BRANCH


Howard I. Scaggs Chairman of the Board, American National Building and Loan 1985 Association, Baltimore, Maryland

Hugh D. Shires Senior Vice President (Retired), The First National Bank of 1985 Maryland, Baltimore, Maryland

Charles W. Hoff III President and Chief Executive Officer, Farmers and Mechanics 1986 National Bank, Frederick, Maryland

Raymond V. Haysbert, Sr.3 President and Chief Executive Officer, Parks Sausage Company, 1987 Baltimore, Maryland


Edward H. Covell President, The Covell Company, Easton, Maryland 1985 Robert L. Tate1 Chairman, Tate Industries, Baltimore, Maryland 1986 Vacancy 1987

—CHARLOTTE BRANCH


J. Donald Collier President and Chief Executive Officer, First National Bank, Orangeburg, South Carolina

1985

James G. Lindley3 Chairman and Chief Executive Officer, South Carolina National Bank, Columbia, South Carolina

1985

John A. Hardin Chairman of the Board and President, First Federal Savings and Loan Association, Rock Hill, South Carolina

1986

James M. Culberson, Jr.3 President and Chairman, The First National Bank of Randolph County, Asheboro, North Carolina

1987


G. Alex Bernhardt President, Bernhardt Industries, Inc., Lenoir, North Carolina 1985 Wallace J. Jorgenson1 President, Jefferson-Pilot Broadcasting Company, Charlotte, North 1986

Carolina Robert L. Albright3 President, Johnson C. Smith University, Charlotte, North Carolina 1987


May 1985


DISTRICT 6—ATLANTA

Class A

Dan B. Andrews Mary W. Walker E. B. Robinson, Jr.3

Class B

Bernard F. Sliger Harold B. Blach, Jr. Horatio C. Thompson

President, First National Bank, Dickson, Tennessee President, The National Bank of Walton County, Monroe, Georgia Chairman and Chief Executive Officer, Deposit Guaranty National

Bank, Jackson, Mississippi

President, Florida State University, Tallahassee, Florida President, Blach's Inc., Birmingham, Alabama President, Horatio Thompson Investments, Inc., Baton Rouge,

Louisiana

Term expires

Dec. 31

1985 1986 1987

1985 1986 1987

Class C

John H. Weitnauer, Jr.1

Bradley Currey, Jr.2

Jane C. Cousins

Chairman and Chief Executive Officer, Richway, Atlanta, Georgia 1985 President, Rock-Tenn Company, Norcross, Georgia 1986 President and Chief Executive Officer, Merrill Lynch Realty/ 1987

Cousins, Miami, Florida

—BIRMINGHAM BRANCH


G. Mack Dove Grady Gillam Charles L. Peery

Willard L. Hurley3

President, AAA Cooper Transportation Company, Dothan, Alabama 1985 Chairman, AmSouth Bank, Gadsden, Alabama Chairman, The First National Bank of Florence, Florence,

Alabama Chairman and Chief Executive Officer, First Alabama Bancshares,

Inc., Birmingham, Alabama

1985 1986

1987


Martha A. Mclnnis1

Vacancy A. G. Trammell3

Executive Vice President, EnviroSouth, Inc., Montgomery, Alabama

President, Alabama Labor Council, AFL-CIO, Birmingham, Alabama

1985

1986 1987

—JACKSONVILLE BRANCH


George C. Boone, Jr. President and Chief Executive Officer, Security First Federal 1985 Savings and Loan Association, Daytona Beach, Florida

E. F. Keen, Jr. Vice Chairman, NCNB Bancorporation, Bradenton, Florida 1985 John D. Uible Chairman and Chief Executive Officer, Florida National Banks of 1986

Florida, Inc., Jacksonville, Florida Joel R. Wells, Jr.3 President and Chief Executive Officer, Sun Banks, Inc., Orlando, 1987

Florida


May 1985


DISTRICT 6—Continued Term expires

Dec 31 —JACKSONVILLE BRANCH—Continued


E. William Nash, Jr.1

JoAnn Doke Smith Andrew A. Robinson3

President, South Central Operations, The Prudential Insurance 1985 Company of America, Jacksonville, Florida

Co-Owner, Smith Brothers, Micanopy, Florida 1986 Dean, College of Education and Human Services, University of 1987

North Florida, Jacksonville, Florida

—MIAMI BRANCH


D. S. Hudson, Jr. Chairman, First National Bank and Trust Company of Stuart, 1985 Stuart, Florida

Robert L. Kester Vice Chairman, Barnett Bank of South Florida, N.A., Pompano 1986 Beach, Florida

James P. Hermes3 President and Chief Executive Officer, Bank of the Islands, 1987 Sanibel, Florida

Robert D. Rapaport Principal, The Rapaport Companies, Palm Beach, Florida 1987


Sue McCourt Cobb Attorney, Greenberg, Traurig, Askew, Hoffman, Lipofif, Rosen, 1985 and Quentel, P.A., Miami, Florida

Eugene E. Cohen1 Chief Financial Officer and Treasurer, Howard Hughes Medical 1986 Institute, Coconut Grove, Florida

Robert D. Apelgren3 Vice President, Sugar Cane Growers Cooperative of Florida, Inc., 1987 Pahokee, Florida

—NASHVILLE BRANCH


Samuel H. Howard Vice President and Treasurer, Hospital Corporation of America, Nashville, Tennessee

1985

Owen G. Shell, Jr. President and Chief Executive Officer, First American National Bank of Nashville, Nashville, Tennessee

1985

Robert W. Jones Chairman and President, First National Bank, McMinnville, Tennessee

1986

Will A. Hildreth3 President and Chief Executive Officer, First National Bank of Loudon County, Lenoir City, Tennessee

1987


Condon S. Bush1 President, Bush Brothers & Company, Dandridge, Tennessee 1985 Patsy R. Williams Partner, Rhyne Lumber Company, Newport, Tennessee 1986 C. Warren Neel Dean, College of Business Administration, The University of 1987

Tennessee, Knoxville, Tennessee


May 1985



Dec. 31 —NEW ORLEANS BRANCH


Philip K. Livingston

Tom Burkett Scott, Jr.

Carl E. Jones, Jr.

James G. Boyer3

Vice Chairman, President and Chief Executive Officer, Citizens 1985 National Bank, Hammond, Louisiana

President and Chief Executive Officer, Unifirst Bank for Savings, 1985 F.A., Jackson, Mississippi

President, Chairman and Chief Executive Officer, Merchants 1986 National Bank of Mobile, Mobile, Alabama

Chairman, President and Chief Executive Officer, Gulf National 1987 Bank at Lake Charles, Lake Charles, Louisiana


Sharon A. Perlis President, Sharon A. Perlis Law Corporation, Metairie, Louisiana 1985 Leslie B. Lampton1 President, Ergon, Inc., Jackson, Mississippi 1986 Roosevelt Steptoe Professor of Economics, Southern University, Baton Rouge 1987

Campus, Baton Rouge, Louisiana

DISTRICT 7—CHICAGO

Class A

President, First National Bank of Logansport, Logansport, Indiana 1985 President, The Citizens National Bank of Charles City, Charles 1986

City, Iowa Chairman of the Board, First National Bank of Chicago, Chicago, 1987

Illinois

Patrick E. McNarny Ollie Jay Tomson

Barry F. Sullivan3

Class B

Mary Garst Manager, Cattle Division, Garst Company, Coon Rapids, Iowa 1985 Leon T. Kendall Chairman and Chief Executive Officer, Mortgage Guaranty 1986

Insurance Corporation, Milwaukee, Wisconsin Edward D. Powers3 President and Chief Executive Officer, Mueller Company, Decatur, 1987

Illinois

Class C

Stanton R. Cook1 President, Tribune Company, Chicago, Illinois 1985 Robert J. Day2 President and Chief Operating Officer, USG Corporation, Chicago, 1986

Illinois Marcus Alexis3 Chairman, Department of Economics, Northwestern University, 1987

Evanston, Illinois


May 1985



expires Dec. 31

—DETROIT BRANCH


Charles T. Fisher III Chairman and President, National Bank of Detroit, Detroit, Michigan

1985

Ronald D. Story President, The Ionia County National Bank of Ionia, Ionia, Michigan

1986

Richard Gillett3 Chairman, Old Kent Financial Corporation and Old Kent Bank and Trust Company, Grand Rapids, Michigan

1987

Thomas R. Ricketts Chairman and President, Standard Federal Savings and Loan Association, Troy, Michigan

1987


Russell G. Mawby1

Karl D. Gregory

Robert E. Brewer

President and Trustee, W. K. Kellogg Foundation, Battle Creek, 1985 Michigan

Professor, Management and Economic Consultant, School of 1986 Economics and Management, Oakland University, Rochester, Michigan

Executive Vice President-Finance, K Mart Corporation, Troy, 1987 Michigan

DISTRICT 8—ST. LOUIS

Class A

Donald L. Hunt President, First National Bank of Marissa, Marissa, Illinois 1985 Clarence C. Barksdale Chairman of the Board, Centerre Bank, N.A. , St. Louis, Missouri 1986 H. L. Hembree IIP Chairman of the Board and Chief Executive Officer, Arkansas Best 1987

Corporation, Fort Smith, Arkansas

Class B

Robert J. Sweeney

Frank A. Jones, Jr. Jesse M. Shaver, Jr.

President and Chief Executive Officer, Murphy Oil Corporation, 1985 El Dorado, Arkansas

President, Dietz Forge Company, Memphis, Tennessee 1986 President, JMS Corporation, Louisville, Kentucky 1987

Class C

Robert L. Virgil, Jr. Dean, School of Business, Washington University, St. Louis, 1985 Missouri

Mary P. Holt2 President, Clothes Horse, Little Rock, Arkansas 1986 W. L. Hadley Griffin1 Chairman of the Executive Committee, Brown Group, Inc., 1987

St. Louis, Missouri


May 1985



—LITTLE ROCK BRANCH


D. Eugene Fortson

William H. Kennedy, Jr.

Wilbur P. Gulley, Jr.

W. Wayne Hartsfield3

Chairman and Chief Executive Officer, Worthen Bank and Trust Company, N.A., Little Rock, Arkansas

Chairman of the Executive Committee, National Bank of Commerce of Pine Bluff, Pine Bluff, Arkansas

Chairman of the Board and Chief Executive Officer, Savers Federal Savings and Loan Association, Little Rock, Arkansas

President and Chief Executive Officer, First National Bank, Searcy, Arkansas


Shirley J. Pine Professor, Department of Communicative Disorders, University of Arkansas at Little Rock, Little Rock, Arkansas

Richard V. Warner Group Vice President, Wood Products Group, Potlatch Corporation, Warren, Arkansas

Sheffield Nelson1 Partner, House, Wallace, Nelson and Jewell, P.A., Little Rock, Arkansas

—LOUISVILLE BRANCH


Allan S. Hanks

Frank B. Hower, Jr.

John E. Darnell, Jr.

R. I. Kerr, Jr.

President, The Anderson National Bank of Lawrenceburg, Lawrenceburg, Kentucky

Chairman and Chief Executive Officer, Liberty National Bank and Trust Company of Louisville, Louisville, Kentucky

Chairman of the Board, The Owensboro National Bank, Owensboro, Kentucky

Chairman of the Board, President, and Chief Executive Officer, Great Financial Federal, Louisville, Kentucky


Henry F. Frigon1 President and Chief Operating Officer, BATUS, Inc., Louisville, Kentucky

William C. Ballard, Jr. Executive Vice President, Finance and Administration, Humana, Inc., Louisville, Kentucky

Raymond M. Burse3 President, Kentucky State University, Frankfort, Kentucky

—MEMPHIS BRANCH


William H. Brandon, Jr. President, First National Bank of Phillips County, Helena, Arkansas

Wayne W. Pyeatt President, Memphis Fire Insurance Company, Memphis, Tennessee

Edgar H. Bailey Chairman and Chief Executive Officer, Leader Federal Savings and Loan Association, Memphis, Tennessee

John P. Dulin3 President, First Tennessee Bank, Memphis, Tennessee

Term expires

Dec. 31

1985

1986

1987

1987

1985

1986

1987

1985

1986

1987

1987

1985

1986

1987

1985

1986

1987

1987


May 1985



—MEMPHIS BRANCH—Continued Dec' 31


Patricia W. Shaw President and Chief Executive Officer, Universal Life Insurance 1985 Company, Memphis, Tennessee

Donald B. Weis1 President, Tamak Transportation Corporation, West Memphis, 1986 Arkansas

G. Rives Neblett Attorney, Neblett, Bobo, Chapman, and Heaton, Shelby, 1987 Mississippi

DISTRICT 9—MINNEAPOLIS

Class A

Curtis W. Kuehn President, The First National Bank in Sioux Falls, Sioux Falls, 1985 South Dakota

Burton P. Allen, Jr. President, First National Bank, Milaca, Minnesota 1986 Thomas M. Strong3 President and Chief Executive Officer, Citizens State Bank, 1987

Ontonagon, Michigan

Class B

Richard L. Falconer District Manager, Northwestern Bell, Bismarck, North Dakota 1985 Harold F. Zigmund Chairman, Blandin Paper Company, Grand Rapids, Minnesota 1986 William L. Mathers President, Mathers Land Company, Inc., Miles City, Montana 1987

Class C

Sister Generose Gervais Administrator, St. Mary's Hospital, Rochester, Minnesota 1985 John B. Davis, Jr.2 Interim Executive Director, Children's Theatre Company and 1986

School, Minneapolis, Minnesota William G. Phillips' Chairman, International Multifoods, Minneapolis, Minnesota 1987

—HELENA BRANCH


Roger H. Ulrich President, First State Bank, Malta, Montana 1985 Dale W. Anderson3 President and Chief Executive Officer, Norwest Bank Great Falls, 1986

N.A. , Great Falls, Montana Seabrook Pates President and Chief Executive Officer, Midland Implement 1986

Company, Inc., Billings, Montana


Gene J. Etchart1 Past President, Hinsdale Livestock Company, Glasgow, Montana 1985 Marcia S. Anderson3 President, Bridger Canyon Stallion Station, Inc., Bozeman, 1986

Montana


May 1985


DISTRICT 10—KANSAS CITY TERM expires

Class A Dec• 31

Howard K. Loomis President, The Peoples Bank, Pratt, Kansas 1985 Wayne D. Angell Chairman of the Board, The First State Bank of Pleasanton, 1986

Pleasanton, Kansas

Donald D. Hoffman Chairman of the Board, Central Bank of Denver, Denver, Colorado 1987

Class B Ralph F. Cox Chief Operating Officer-Resources, and Director, Atlantic 1985

Richfield Company, Denver, Colorado Richard D. Harrison Chairman and Chief Executive Officer, Fleming Companies, Inc. 1986

Oklahoma City, Oklahoma Duane C. Acker President, Kansas State University, Manhattan, Kansas 1987

Class C

Irvine O. Hockaday, Jr.1 Executive Vice President and Member of the Office of the Chairman, Hallmark Cards, Inc., Kansas City, Missouri

Vacancy Robert G. Lueder2 Chairman of the Board, Lueder Construction Company, Omaha,

Nebraska

—DENVER BRANCH


George S. Jenks President and Chief Executive Officer, Sunwest Financial Services, Inc., Albuquerque, New Mexico

Kenneth C. Naramore Chairman of the Board and Chief Executive Officer, Stockmen's Bank and Trust Company, Gillette, Wyoming

Roger L. Reisher Co-Chairman, FirstBank Holding Company of Colorado, Lake wood, Colorado

Junius F. Baxter3 President and Chairman, Midland-Western Federal Savings, Denver, Colorado


Anthony W. Williams President, Williams, Turner & Holmes, P.C., Grand Junction, Colorado

James C. Wilson3 President and Chief Executive Officer, Rocky Mountain Energy, Broomfield, Colorado

James E. Nielson1 President and Chief Executive Officer, JN Incorporated, Cody, Wyoming

—OKLAHOMA CITY BRANCH


William H. Crawford President and Chief Executive Officer, First National Bank and Trust Company, Frederick, Oklahoma

William O. Alexander President and Chief Executive Officer, Continental Federal Savings & Loan Association, Oklahoma City, Oklahoma

Marcus R. Tower Vice Chairman of the Board and Chairman of the Credit Policy Committee, Bank of Oklahoma, N.A. , Tulsa, Oklahoma

1985

1986 1987

1985

1986

1986

1987

1985

1986

1987

1985

1986

1986


May 1985



Dec 31

—OKLAHOMA CITY BRANCH—Continued

Appointed by Board of Governors Patience S. Latting1 Oklahoma City, Oklahoma 1985 John F. Snodgrass President and Trustee, Samuel Roberts Noble Foundation, Inc., 1986

Ardmore, Oklahoma

—OMAHA BRANCH


William W. Cook, Jr. President, The Beatrice National Bank and Trust Company, 1985 Beatrice, Nebraska

Charles H. Thorne Chairman of the Board and Chief Executive Officer, First Federal 1985 Savings and Loan Association of Lincoln, Lincoln, Nebraska

Donald J. Murphy Director, Norwest Bank Omaha, N.A. , Omaha, Nebraska 1986


Kenneth L. Morrison1 President, Morrison-Quirk Grain Corporation, Hastings, Nebraska 1985 Janice D. Stoney3 Vice President, Northwestern Bell Telephone Company, Omaha, 1986

Nebraska

DISTRICT 11—DALLAS

Class A

John P. Gilliam

Miles D. Wilson

Gene Edwards3

Class B

Robert Ted Enloe III

Kent Gilbreath

Robert L. Pfluger3

Class C

Robert D. Rogers1

Hugh G. Robinson3

Bobby R. Inman2

Chairman of the Board and Chief Executive Officer, First National 1985 Bank in Valley Mills, Valley Mills, Texas

Chairman of the Board and Chief Executive Officer, The First 1986 National Bank of Bellville, Bellville, Texas

Chairman of the Board, First Amarillo Bancorporation, Inc., 1987 Amarillo, Texas

President, Lomas & Nettleton Financial Corporation, Dallas, 1985 Texas

Associate Dean, Hankamer School of Business, Baylor University, 1986 Waco, Texas

Rancher, San Angelo, Texas 1987

President and Chief Executive Officer, Texas Industries, Inc., 1985 Dallas, Texas

Vice President for Real Estate Development, Southland 1986 Corporation, Dallas, Texas

Chairman of the Board, President, and Chief Executive Officer, 1987 Microelectronics and Computer Technology Corporation, Austin, Texas


May 1985



—EL PASO BRANCH


Hector Holguin3 Founder and Chairman, Holguin Corporation, El Paso, Texas 1985 David L. Stone President, The Portales National Bank, Portales, New Mexico 1986 Tony A. Martin Chairman of the Board, First City National Bank of Midland, 1987

Midland, Texas Gerald W. Thomas President Emeritus and Professor of Animal Range Science, Center 1987

for International Programs, New Mexico State University, Las Cruces, New Mexico

Term expires

Dec. 31


Peyton Yates President, Yates Drilling Company, Artesia, New Mexico 1985 John Sibley1 President, Delaware Mountain Enterprises, Carlsbad, New Mexico 1986 Mary Carmen Saucedo Associate Superintendent, Central Area Office, El Paso 1987

Independent School District, El Paso, Texas

—HOUSTON BRANCH


Will E. Wilson Chairman of the Executive Committee, First City National Bank of Beaumont, Beaumont, Texas

1985

Marcella D. Perry President and Chief Executive Officer, Heights Savings Association, Houston, Texas

1986

Thomas B. McDade Vice Chairman, Texas Commerce Bancshares, Inc., Houston, Texas

1987

David E. Sheffield3 President and Chief Executive Officer, First Victoria National Bank, Victoria, Texas

1987


Robert T. Sakowitz1 Chairman of the Board and President, Sakowitz, Inc., Houston, 1985 Texas

Walter M. Mischer, Jr.3 President, The Mischer Corporation, Houston, Texas 1986 Andrew L. Jefferson, Jr.3 Attorney, Jefferson, Mims, and Plummer, Houston, Texas 1987

—SAN ANTONIO BRANCH


George Brannies Chairman of the Board and President, The Mason National Bank, 1985 Mason, Texas

C. Ivan Wilson Chairman of the Board and Chief Executive Officer, First City 1986 Bank of Corpus Christi, Corpus Christi, Texas

Joe D. Barbee President and Chief Executive Officer, Barbee-Neuhaus Implement 1987 Company, Weslaco, Texas

Robert T. Rork3 Chairman of the Board and Chief Executive Officer, RepublicBank 1987 San Antonio, N.A., San Antonio, Texas


May 1985



—SAN ANTONIO BRANCH—Continued Dec' 31


Robert F. McDermott1 Chairman of the Board and President, United Services Automobile 1985 Association, San Antonio, Texas

Lawrence L. Crum Professor of Banking and Finance, The University of Texas at 1986 Austin, Austin, Texas

Ruben M. Garcia3 President, Modern Machine Shop, Inc., Laredo, Texas 1987

DISTRICT 12—SAN FRANCISCO

Class A

Spencer F. Eccles

Rayburn S. Dezember Donald J. Gehb3

Class B

Togo W. Tanaka John C. Hampton

George H. Weyerhaeuser

Class C

Carolyn S. Chambers Fred W. Andrew2

Alan C. Furth1

Chairman, President, and Chief Executive Officer, First Security Corporation, Salt Lake City, Utah

Chairman, Central Pacific Corporation, Bakersfield, California President and Chief Executive Officer, Alameda First National

Bank, Alameda, California

Chairman, Gramercy Enterprises, Inc., Los Angeles, California Chairman and President, Willamina Lumber Company, Portland,

Oregon President and Chief Executive Officer, Weyerhaeuser Company,

Tacoma, Washington

President, Chambers Cable Co., Inc., Eugene, Oregon Chairman, President, and Chief Executive Officer, Superior

Farming Company, Bakersfield, California Vice Chairman, Santa Fe Southern Pacific Corporation and

President, Southern Pacific Company, San Francisco, California

—Los ANGELES BRANCH


1985

1986 1987

1985 1986

1987

1985 1986

1987

Bram Goldsmith Chairman and Chief Executive Officer, City National Bank, 1985 Beverly Hills, California

William L. Tooley Chairman, Tooley and Company, Investment Builders, Los 1985 Angeles, California

Harvey J. Mitchell President and Chief Executive Officer, Escondido National Bank, 1986 Escondido, California

Robert R. Dockson Chairman and Chief Executive Officer, CalFed, Inc., Los Angeles, 1987 California


Thomas R. Brown, Jr. Lola M. McAlpin-Grant Richard C. Seaver1 3

Chairman of the Board, Burr-Brown Corporation, Tucson, Arizona 1985 Attorney, Ingle wood, California 1986 President, Hydril Company, Los Angeles, California 1987


May 1985



Dec. 31 —PORTLAND BRANCH


Herman C. Bradley, Jr. President and Chief Executive Officer, Tri-County Banking 1985 Company, Junction City, Oregon

William S. Naito Vice President, Norcrest China Company, Portland, Oregon 1986 John A. Elorriaga Chairman of the Board and Chief Executive Officer, United States 1987

National Bank of Oregon, Portland, Oregon G. Dale Weight3 Chairman and Chief Executive Officer, Benjamin Franklin Savings 1987

and Loan Association, Portland, Oregon


G. Johnny Parks Northwest Regional Director, International Longshoremen's & 1985 Warehousemen's Union, Portland, Oregon

Paul E. Bragdon1 President, Reed College, Portland, Oregon 1986 Sandra A. Suran3 Partner, Suran and Company, Beaverton, Oregon 1987

—SALT LAKE CITY BRANCH


John A. Dahlstrom Chairman of the Board, Tracy-Collins Bank and Trust Company, Salt Lake City, Utah

1985

Fred C. Humphreys Chairman, President and Chief Executive Officer, The Idaho First National Bank and Moore Financial Group, Boise, Idaho

1985

Albert C. Gianoli President and Chairman of the Board, First National Bank of Ely, Ely, Nevada

1986

Lela M. Ence Executive Director, University of Utah Alumni Association, Salt Lake City, Utah

1987


Vacancy 1985 Robert N. Pratt President, Moriah Enterprises, Inc., Bountiful, Utah 1986 Don M. Wheeler13 President, Wheeler Machinery Company, Salt Lake City, Utah 1987

—SEATTLE BRANCH


William W. Philip Chairman of the Board and President, Puget Sound National Bank, 1985 Tacoma, Washington

Lonnie G. Bailey Executive Vice President, Farmers & Merchants Bank of 1986 Rockford, Spokane, Washington

John N. Nordstrom Co-Chairman of the Board, Nordstrom, Inc., Seattle, Washington 1987 William S. Randall3 President and Chief Executive Officer, First Interstate Bank of 1987

Washington, N.A., Seattle, Washington


Byron I. Mallott President and Chief Executive Officer, Sealaska Corporation, 1985 Juneau, Alaska

Carol A. Birkholz Managing Partner, Laventhol & Horwath, Seattle, Washington 1986 John W. Ellis1 President and Chief Executive Officer, Puget Sound Power & Light 1987

Company, Bellevue, Washington


May 1985

393


Regional decentralization and a combination of gov-ernmental and private characteristics are important hallmarks of the uniqueness of the Federal Reserve System. Under the Federal Reserve Act, decentraliza-tion was achieved by division of the country into 12 Federal Reserve Districts and the establishment in each District of a separately incorporated Federal Reserve Bank with its own board of directors. The member banks in each District own the stock of their Reserve Bank and elect a majority of the board of directors of that Bank. The Board of Governors, an agency of the federal government, exercises general supervision over the Reserve Banks and also appoints a minority of each board of directors of the Reserve Banks and their Branches. Thus, the Federal Reserve relies importantly in the conduct of the System's affairs on the regional participation and counsel of the directors of the Federal Reserve Banks and Branches.

The following list of directors of Federal Reserve Banks and Branches shows for each director the class of directorship, the principal business affiliation, and the date the current term expires. Each Federal Re-serve Bank has nine members on its board of direc-tors: the member banks elect the three Class A and three Class B directors, and the Board of Governors appoints the three directors in Class C. Directors are chosen without discrimination as to race, creed, color, sex, or national origin.

Class A directors of each Reserve Bank represent the stockholding member banks of the Federal Re-serve District. Class B and Class C directors represent the public and are chosen with due, but not exclusive, consideration to the interests of agriculture, com-merce, industry, services, labor, and consumers; they may not be officers, directors, or employees of any bank. In addition, Class C directors may not be stockholders of any bank. The Board of Governors designates annually one Class C director as chairman of the board of directors of each District Bank and designates another Class C director as deputy chair-man.

Each of the 25 Branches of the Federal Reserve Banks has a board of either seven or five directors, a majority of whom are appointed by the parent Federal Reserve Bank; the others are appointed by the Board of Governors. One of the Board's appointees is desig-nated annually as chairman of the board of that Branch in a manner prescribed by the parent Federal Reserve Bank.

The names of the chairman and deputy chairman of the board of directors of each Reserve Bank and of the chairman of each Branch are published monthly in the FEDERAL RESERVE B U L L E T I N . 1

1. The current list appears on page A89 of this BULLETIN.

DISTRICT 1—BOSTON

Class A

Homer B. Ellis, Jr.

Harry R. Mitiguy Robert L. Newell

Class B

Ralph Z. Sorenson

Matina S. Horner Richard M. Oster

Director, Factory Point National Bank, Manchester Center, Vermont

President, Howard Bancorp, Burlington, Vermont Chairman, Hartford National Corporation, Hartford, Connecticut

Chairman, President, and Chief Executive Officer, Barry Wright Corporation, Newton Lower Falls, Massachusetts

President, Radcliffe College, Cambridge, Massachusetts President and Chief Executive Officer, Cookson America, Inc.,

Providence, Rhode Island

Term Expires Dec. 31

1987

1988 1989

1987

1988 1989


May 1987



Class C

Joseph A. Baute Chairman and Chief Executive Officer, Markem Corporation, Keene, New Hampshire

George N. Hatsopoulos Chairman of the Board and President, Thermo Electron Corporation, Waltham, Massachusetts

Richard N. Cooper Professor of International Economics, Harvard University, Cambridge, Massachusetts


Class A

Robert W. Moyer

Lewis T. Preston

Alberto M. Paracchini

Class B

John F. Welch, Jr.

Richard L. Gelb

John A. Georges

Class C

President and Chief Executive Officer, Wilber National Bank, Oneonta, New York

Chairman of the Board, Morgan Guaranty Trust Company of New York, New York, New York

Chairman of the Board and President, Banco de Ponce, Ponce, Puerto Rico

Chairman and Chief Executive Officer, General Electric Company, Fairfield, Connecticut

Chairman and Chief Executive Officer, Bristol-Myers Company, New York, New York

Chairman and Chief Executive Officer, International Paper Company, New York, New York

Virginia A. Dwyer Senior Vice President—Finance (Retired), American Telephone and Telegraph Co., New York, New York

John Brademas President, New York University, New York, New York John R. Opel Chairman of the Executive Committee, International Business

Machines Corp., Armonk, New York

—BUFFALO BRANCH

Appointed by the Federal Reserve Bank

Ross B. Kenzie Chairman and Chief Executive Officer, Goldome FSB, Buffalo, New York

R. Carlos Carballada President and Chief Executive Officer, Central Trust Company, Rochester, New York

Donald I. Wickham President, Tri-Way Farms, Inc., Stanley, New York Harry J. Sullivan President, Salamanca Trust Company, Salamanca, New York

Appointed by the Board of Governors

Joseph Yantomasi Consultant, United Auto Workers, Buffalo, New York Mary Ann Lambertsen Vice President, Human Resources, Fisher-Price,

East Aurora, New York Matthew Augustine President and Chief Executive Officer, Eltrex Industries, Inc.,

Rochester, New York


1987

1988

1989

1987

1988

1989

1987

1988

1989

1987

1988 1989

1987

1988

1988 1989

1987 1988

1989


May 1987



Class A

Ronald H. Smith

Clarence D. McCormick

George A. Butler

Class B

Charles F. Seymour

Nicholas Riso

Carl E. S ingle y

Class C

George E. Bartol III

Nevius M. Curtis

Peter A. Benoliel

President and Chief Executive Officer, CCNB Bank, N.A., New Cumberland, Pennsylvania

President, The Farmers and Merchants National Bank, Bridgeton, New Jersey

Chairman and Chief Executive Officer, First Pennsylvania Bank, N.A., Philadelphia, Pennsylvania

Chairman and Chief Executive Officer, Jackson-Cross Company, Philadelphia, Pennsylvania

President and Chief Executive Officer, Giant Food Stores, Inc., Carlisle, Pennsylvania

Attorney, Philadelphia, Pennsylvania

Chairman of the Board, Hunt Manufacturing Company, Philadelphia, Pennsylvania

Chairman and Chief Executive Officer, Delmarva Power & Light Company, Wilmington, Delaware

Chairman, Quaker Chemical Corporation, Conshohocken, Pennsylvania


1987

1988

1989

1987

1988

1989

1987

1988

1989


Class A

Raymond D. Campbell Chairman, President, and Chief Executive Officer, Independent 1987 State Bank of Ohio, Columbus, Ohio

William A. Stroud Chairman and President, First-Knox National Bank, Mount 1988 Vernon, Ohio

Frank Wobst Chairman and Chief Executive Officer, Huntington Bancshares 1989 Incorporated, Columbus, Ohio

Class B

Richard D. Hannan Chairman of the Board and President, Mercury Instruments, Inc., 1987 Cincinnati, Ohio

Daniel M. Galbreath President, John W. Galbreath, Columbus, Ohio 1988 Laban P. Jackson, Jr. Chairman of the Board, International Spike, Inc., Lexington, 1989

Kentucky Class C

E. Mandell de Windt Chairman of the Board (Retired), Eaton Corporation, Cleveland, 1987 Ohio

John R. Miller Former President and Chief Operating Officer, The Standard Oil 1988 Company (Ohio), Cleveland, Ohio

Charles W. Parry Chairman and Chief Executive Officer, Aluminum Company of 1989 America, Pittsburgh, Pennsylvania


May 1987


DISTRICT Continued



Sherrill Cleland President, Marietta College, Marietta, Ohio Jerry L. Kirby Chairman of the Board and President, Citizens Federal Savings &

Loan Association, Dayton, Ohio Robert A. Hodson President and Chief Executive Officer, 1st Security Bank,

Hillsboro, Ohio Robert M. Duncan President and Chief Executive Officer, First National Bank of

Louisa, Louisa, Kentucky


Don Ross Owner, Dunreath Farm, Lexington, Kentucky Kate Ireland National Chairman, Frontier Nursing Service, Wendover,

Kentucky Owen B. Butler Chairman of the Board (Retired), The Procter & Gamble Company,

Cincinnati, Ohio



Charles L. Fuellgraf, Jr.

James S. Pasman, Jr.

Lawrence F. Klima

Thomas H. O'Brien

Chief Executive Officer, Fuellgraf Electric Company, Butler, Pennsylvania

Former Vice Chairman, Aluminum Company of America, Pittsburgh, Pennsylvania

President, The First National Bank of Pennsylvania, Erie, Pennsylvania

President and Chief Executive Officer, PNC Financial Corp., Pittsburgh, Pennsylvania



James E. Haas

Karl M. von der Heyden

President and Chief Executive Officer, Allegheny Housing Rehabilitation Corporation, Pittsburgh, Pennsylvania

President and Chief Operating Officer, National Intergroup, Inc., Pittsburgh, Pennsylvania

Senior Vice President-Finance and Chief Financial Officer, H.J. Heinz Company, Pittsburgh, Pennsylvania


Class A

Robert F. Baronner

K. Donald Menefee

Chester A. Duke

Chairman of the Board and Chief Executive Officer, One Valley Bancorp of West Virginia, Inc. and Kanawha Valley Bank, N.A., Charleston, West Virginia

Chairman of the Board and Chief Executive Officer, Madison National Bank, and Chairman of the Board and President, James Madison Limited, Washington, D.C.

President and Chief Executive Officer, Marion National Bank, Marion, South Carolina


1987

1987

1988

1989

1987 1988

1989

1987

1987

1988

1989

1987

1988

1989

1987

1988

1989


May 1987



Class B

Floyd D. Gottwald, Jr.

Edward H. Co veil Thomas B. Cookerly

Class C

Hanne Merriman Robert A. Georgine

Leroy T. Canoles, Jr.

Chairman of the Board and Chief Executive Officer, Ethyl Corporation, Richmond, Virginia

President, The Covell Company, Easton, Maryland President, Broadcast Division, Allbritton Communications,

Washington, D.C.

President, Garfinckel's, Washington, D.C. President, Building & Construction Trades Department, AFL-CIO,

Washington, D.C. President, Kaufman & Canoles, Norfolk, Virginia


1987

1988 1989

1987 1988

1989

—BALTIMORE BRANCH


Raymond V. Haysbert, Sr.

H. Grant Hathaway

Joseph W. Mosmiller

Charles W. Hoff III

President and Chief Executive Officer, Parks Sausage Company, 1987 Baltimore, Maryland

Chairman of the Board, Equitable Bank, N.A., Baltimore, 1988 Maryland

Chairman of the Board, Loyola Federal Savings and Loan 1988 Association, Baltimore, Maryland

President and Chief Executive Officer, Farmers and Mechanics 1989 National Bank, Frederick, Maryland


Gloria L. Johnson Thomas R. Shelton

John R. Hardesty, Jr.

Baltimore, Maryland President, The Resource Management Group, Inc., Salisbury,

Maryland President, Preston Energy, Inc., Kingwood, West Virginia

1987 1988

1989

—CHARLOTTE BRANCH


James M. Culberson, Jr.

J. Donald Collier James G. Lindley

John A. Hardin

Chairman and President, The First National Bank of Randolph County, Asheboro, North Carolina

Orangeburg, South Carolina Chairman, South Carolina National Corporation, and Chairman

and President, The South Carolina National Bank, Columbia, South Carolina

Chairman of the Board and President, First Federal Savings Bank, Rock Hill, South Carolina

1987

1988 1988

1989


May 1987



—CHARLOTTE BRANCH—Continued



James E. Bostic, Jr.

G. Alex Bernhardt Wallace J. Jorgenson

Division General Manager, Convenience Products Division, Georgia-Pacific Corporation, Aiken, South Carolina

President, Bernhardt Industries, Inc., Lenoir, North Carolina President, Jefferson-Pilot Communications Company,

Charlotte, North Carolina

1987

1988 1989


Class A

E.B. Robinson, Jr.

Virgil H. Moore, Jr.

Mary W. Walker

Class B

Horatio C. Thompson

Bernard F. Sliger Paul W. Green

Class C

Jane C. Cousins

Larry L. Prince

Bradley Currey, Jr.

Chairman and Chief Executive Officer, Deposit Guaranty National 1987 Bank and Deposit Guaranty Corporation, Jacksonville, Mississippi

Chairman and Chief Executive Officer, First Farmers and 1988 Merchants National Bank, Columbia, Tennessee

Vice Chairman, The National Bank of Walton County, Monroe, 1989 Georgia

President, Horatio Thompson Investments, Inc., Baton Rouge, 1987 Louisiana

President, Florida State University, Tallahassee, Florida 1988 President and Chief Executive Officer, American Cast Iron Pipe 1989

Company, Birmingham, Alabama

President and Chief Executive Officer, Merrill Lynch Realty/ 1987 Cousins, Miami, Florida

President and Chief Operating Officer, Genuine Parts Company, 1988 Atlanta, Georgia

President, Rock-Tenn Company, Norcross, Georgia 1989



Willard L. Hurley Chairman and Chief Executive Officer, First Alabama Bancshares, 1987 Inc., Birmingham, Alabama

Vacancy 1988 Milton A. Wendland Owner-Operator, Autauga Farming Company, Autaugaville, 1988

Alabama John H. Newman President and Chief Executive Officer, First National Bank of 1989

Scottsboro, Scottsboro, Alabama


May 1987


DISTRICT 6—Continued TERM Expires

—BIRMINGHAM BRANCH— C o n t i n u e d D e c - 3 1


A.G. Trammell President, Alabama Labor Council, AFL-CIO, Birmingham, 1987 Alabama

Roy D. Terry President and Chief Executive Officer, Terry Manufacturing 1988 Company, Inc., Roanoke, Alabama

Margaret E.M. Tolbert Director, Carver Research Foundation, Tuskegee University, 1989 Tuskegee, Alabama



Buell G. Duncan, Jr. Chairman, President, and Chief Executive Officer, Sun Bank, 1987 N.A., Orlando, Florida

Robert R. Deison Chairman of the Board and President, Andrew Jackson State 1988 Savings and Loan Association, Tallahassee, Florida

George W. Gibbs III President, Atlantic Dry Dock Corporation, Jacksonville, Florida 1988 A. Bronson Thayer Chairman and Chief Executive Officer, First Florida Banks, Inc., 1989

Tampa, Florida


Andrew A. Robinson Director, Florida Institute of Education, University of North 1987 Florida, Jacksonville, Florida

E. William Nash, Jr. President, South-Central Operations, The Prudential Insurance 1988 Company of America, Jacksonville, Florida

Saundra H. Gray Co-Owner, Gemini Springs Farm, DeBary, Florida 1989

—MIAMI BRANCH


Robert D. Rapaport Robert M. Taylor

William H. Losner

James H. Robinson

Chairman, Royal Palm Savings Association, Palm Beach, Florida 1987 Chairman and Chief Executive Officer, The Mariner Group, Inc., 1987

Fort Myers, Florida President and Chief Executive Officer, The First National Bank of 1988

Homestead, Homestead, Florida President, Sun Bank/South Florida, N.A., Fort Lauderdale, 1989

Florida


Robert D. Apelgren President, Apelgren Corporation, Pahokee, Florida 1987 Sue McCourt Cobb Attorney, Greenberg, Traurig, Askew, Hoffman, Lipoff, Rosen, 1988

and Quentel, P.A., Miami, Florida Jose L. Saumat President, Kaufman and Roberts, Inc., Miami, Florida 1989


May 1987





—NASHVILLE BRANCH

Will A. Hildreth

Eugene C. Cheatham

Shirley A. Zeitlin Dennis C. Bottorff

President and Chief Executive Officer, First National Bank of 1987 Loudon County, Lenoir City, Tennessee

President, Advanced Integrated Technology, Inc., Nashville, 1988 Tennessee

President, Shirley Zeitlin & Co. Realtors, Nashville, Tennessee 1988 Chairman, Commerce Union Corporation, Nashville, Tennessee 1989


C. Warren Neel Dean, College of Business Administration, The University of 1987 Tennessee, Knoxville, Tennessee

Condon S. Bush President, Bush Brothers & Company, Dandridge, Tennessee 1988 Patsy R. Williams Partner, Rhyne Lumber Company, Newport, Tennessee 1989

—NEW ORLEANS BRANCH


James G. Boyer Chairman, President, and Chief Executive Officer, Gulf National Bank at Lake Charles, Lake Charles, Louisiana

1987

Alan R. Barton President and Chief Executive Officer, Mississippi Power Company, Gulfport, Mississippi

1988

Robert M. Shofstahl President and Chief Executive Officer, Pelican Homestead and Savings Association, Metairie, Louisiana

1988

Robert S. Gaddis President and Chief Executive Officer, Commercial National Bank & Trust Co., Laurel, Mississippi

1989


Caroline K. Theus President, Inglewood Land and Development Company, 1987 Alexandria, Louisiana

Sharon A. Perlis President, Sharon A. Perlis (APLC), Metairie, Louisiana 1988 James A. Hefner President, Jackson State University, Jackson, Mississippi 1989


Class A

Barry F. Sullivan

John W. Gabbert

B.F. Backlund

Chairman of the Board and Chief Executive Officer, First National 1987 Bank of Chicago, Chicago, Illinois

President and Chief Executive Officer, First National Bank and 1988 Trust Company, LaPorte, Indiana

President and Chief Executive Officer, Bartonville Bank, 1989 Bartonville, Illinois


May 1987



Class B

Edward D. Powers

Max J. Naylor Paul J. Schierl

Class C

Marcus Alexis

Charles S. McNeer

Robert J. Day

President and Chief Executive Officer, Mueller Company, Decatur, Illinois

Farmer, Jefferson, Iowa President and Chief Executive Officer, Fort Howard Paper

Company, Green Bay, Wisconsin

Dean, College of Business Administration, University of Illinois at Chicago, Chicago, Illinois

Chairman of the Board and Chief Executive Officer, Wisconsin Electric Power Company, Milwaukee, Wisconsin

Chairman and Chief Executive Officer, USG Corporation, Chicago, Illinois


1987

1988 1989

1987

1988

1989

—DETROIT BRANCH


Richard M. Gillett Chairman of the Board, Old Kent Financial Corporation, 1987 Grand Rapids, Michigan

Thomas R. Ricketts Chairman of the Board and President, Standard Federal Bank, 1987 Troy, Michigan

Donald R. Mandich Chairman and Chief Executive Officer, Comerica Bank-Detroit, 1988 Detroit, Michigan

Ronald D. Story Chairman and President, The Ionia County National Bank of Ionia, 1989 Ionia, Michigan


Robert E. Brewer Senior Vice President, Accounting, Administration & Financial 1987 Services, K mart Corporation, Troy, Michigan

Phyllis E. Peters Director, Professional Standards Review, Touche Ross & 1988 Company, Detroit, Michigan

Richard T. Lindgren President and Chief Executive Officer, Cross & Trecker 1989 Corporation, Bloomfield Hills, Michigan


Class A

H.L. Hembree III

Paul K. Reynolds

David W. Kemper II

Chairman of the Board and Chief Executive Officer, Arkansas Best 1987 Corporation, Fort Smith, Arkansas

President and Chief Executive Officer, The First National Bank of 1988 Pittsfield, Pittsfield, Illinois

Chairman and Chief Executive Officer, Commerce Bank of 1989 St. Louis, N.A., Clayton, Missouri, and President and Chief Executive Officer, Commerce Bancshares, Inc., Kansas City, Missouri


May 1987


DISTRICT S—Continued

Class B

Jesse M. Shaver Robert J. Sweeney

Frank M. Mitchener, Jr.

Class C

W.L. Hadley Griffin

Robert L. Virgil, Jr.

H. Edwin Trusheim

President, JMS Corporation, Louisville, Kentucky President and Chief Executive Officer, Murphy Oil Corporation,

El Dorado, Arkansas President, Mitchener Farms, Inc., Sumner, Mississippi

Chairman of the Executive Committee, Brown Group, Inc., St. Louis, Missouri

Dean, School of Business, Washington University, St. Louis, Missouri

Chairman, President, and Chief Executive Officer, General American Life Insurance Company, St. Louis, Missouri


1987 1988

1989

1987

1988

1989



Wilbur P. Gulley, Jr. Chairman of the Board, Savers Federal Savings & Loan 1987 Association, Little Rock, Arkansas

W. Wayne Hartsfield President and Chief Executive Officer, First National Bank, 1987 Searcy, Arkansas

Robert C. Connor, Jr. President, Union National Bank of Little Rock, Little Rock, 1988 Arkansas

Patricia M. Townsend President, Townsend Company, Stuttgart, Arkansas 1989


Sheffield Nelson Attorney at Law, Little Rock, Arkansas 1987 James R. Rodgers Airport Manager, Little Rock Regional Airport, Little Rock, 1988

Arkansas Douglas Ward Jackson President, Machen Construction Company, Little Rock, Arkansas 1989



John E. Darnell, Jr. Chairman of the Board, The Owensboro National Bank, 1987 Owensboro, Kentucky

R.I. Kerr, Jr. Chairman of the Board, President, and Chief Executive Officer, 1987 Great Financial Federal, Louisville, Kentucky

Allan S. Hanks Vice President, The Anderson National Bank of Lawrenceburg, 1988 Lawrenceburg, Kentucky

Morton Boyd President, First Kentucky National Corporation, Louisville, 1989 Kentucky


May 1987



—LOUISVILLE BRANCH— Continued D e c- 3 1

Appointed by the Board of Governors Raymond M. Burse President, Kentucky State University, Frankfort, Kentucky 1987 Lois H. Gray Chairman of the Board, James N. Gray Construction Company, Inc., 1988

Glasgow, Kentucky Thomas A. Alvey Delegate and Past President, Owensboro Council of Labor, 1989

Owensboro, Kentucky

—MEMPHIS BRANCH


Edgar H. Bailey Chairman and Chief Executive Officer, Leader Federal Savings and 1987 Loan Association, Memphis, Tennessee

John P. Dulin President, First Tennessee Bank, N.A., Memphis, Memphis, 1987 Tennessee

William H. Brandon, Jr. President, First National Bank of Phillips County, Helena, 1988 Arkansas

Michael J. Hennessey President, Munro & Company, Inc., Wynne, Arkansas 1989


G. Rives Neblett Neblett and Havens, Attorneys at Law, Shelby, Mississippi 1987 Katherine Hinds Smythe President, Memorial Park, Inc., Memphis, Tennessee 1988 Sandra B. Sanderson President and Chief Executive Officer, Sanderson Plumbing 1989

Products, Inc., Columbus, Mississippi


Class A

Thomas M. Strong President, Citizens State Bank, Ontonagon, Michigan 1987 Duane W. Ring President, Norwest Bank La Crosse, N.A., La Crosse, Wisconsin 1988 Charles W. Ekstrum President and Chief Executive Officer, First National Bank, Philip, 1989

South Dakota

Class B

William L. Mathers President, Mathers Land Company, Miles City, Montana 1987 Richard L. Falconer District Staff Manager, Northwestern Bell, Minneapolis, Minnesota 1988 Keith D. Bjerke Owner, Spruce Row Farm, Northwood, North Dakota 1989

Class C

Michael W. Wright Chairman, President, and Chief Executive Officer, Super Valu 1987 Stores, Inc., Minneapolis, Minnesota

John A. Rollwagen Chairman and Chief Executive Officer, Cray Research Inc., 1988 Minneapolis, Minnesota

John B. Davis, Jr. President Emeritus, Macalester College, St. Paul, Minnesota 1989


May 1987





—HELENA BRANCH

F. Charles Mercord President and Chief Executive Officer, First Federal Savings Bank 1987 of Montana, Kalispell, Montana

Robert H. Waller President and Chief Executive Officer, First Interstate Bank of 1988 Billings, N.A., Billings, Montana

Noble E. Vosburg President and Chief Executive Officer, Pacific Hide and Fur 1988 Corporation, Great Falls, Montana


Warren H. Ross President, Ross 87 Ranch, Inc., Chinook, Montana 1987 Marcia S. Anderson President, Bridger Canyon Stallion Station, Inc., Bozeman, 1988

Montana

DISTRICT 10—KANSAS CITY

Class A

Donald D. Hoffman Chairman of the Board, Central Bank of Denver, Denver, Colorado 1987 Robert L. Hollis Chairman of the Board and Chief Executive Officer, First National 1988

Bank & Trust Co., Okmulgee, Oklahoma Harold L. Gerhart, Jr. President and Chief Executive Officer, First National Bank, 1989

Newman Grove, Nebraska Class B

S. Dean Evans, Sr. Jerry D. Geist

Richard D. Harrison

Class C

Robert G. Lueder

Irvine O. Hockaday, Jr.

Fred W. Lyons, Jr.

Partner, Evans Grain Company, Salina, Kansas 1987 Chairman and President, Public Service Company of New Mexico, 1988

Albuquerque, New Mexico Chairman and Chief Executive Officer, Fleming Companies, Inc., 1989

Oklahoma City, Oklahoma

Chairman of the Board, Lueder Construction Company, Omaha, 1987 Nebraska

President and Chief Executive Officer, Hallmark Cards, Inc., 1988 Kansas City, Missouri

President and Chief Executive Officer, Marion Laboratories, Inc., 1989 Kansas City, Missouri

—DENVER BRANCH


Junius F. Baxter Chairman of the Board and Chief Executive Officer, Bank Western 1987 Federal Savings Bank, Denver, Colorado

George S. Jenks President and Chief Executive Officer, Sunwest Financial Services, 1988 Inc., Albuquerque, New Mexico

W. Richard Scarlett III Chairman and President, Jackson State Bank, Jackson Hole, 1988 Wyoming

Roger L. Reisher Co-Chairman, FirstBank Holding Company of Colorado, 1989 Lake wood, Colorado


May 1987



—DENVER BRANCH—Continued Dec. 31

Appointed by the Board of Governors James E. Nielson President and Chief Executive Officer, JN Incorporated, Cody, 1987

Wyoming Anthony W. Williams Attorney, Williams, Turner, & Holmes, P.C., Grand Junction, 1988

Colorado James C. Wilson Longmont, Colorado 1989



William H. Crawford Chairman and Chief Executive Officer, First National Bank and 1987 Trust Company, Frederick, Oklahoma

William O. Alexander Chairman and Chief Executive Officer, Continental Federal 1988 Savings & Loan Association, Oklahoma City, Oklahoma

W. Dean Hidy Chairman of the Board, Triad Bank, N.A., Tulsa, Oklahoma 1988


Patience S. Latting Oklahoma City, Oklahoma 1987 John F. Snodgrass President and Trustee, The Samuel Roberts Noble Foundation, Inc., 1988

Ardmore, Oklahoma

—OMAHA BRANCH


John T. Selzer President, Scottsbluflf National Bank and Trust Company, 1987 Scottsbluff, Nebraska

Charles H. Thorne Chairman of the Board and Chief Executive Officer, First Federal 1987 Savings and Loan Association of Lincoln, Lincoln, Nebraska

John R. Cochran President and Chief Executive Officer, Norwest Bank Nebraska, 1988 N.A., Omaha, Nebraska


Kenneth L. Morrison President, Morrison Enterprises, Hastings, Nebraska 1987 Janice D. Stoney Executive Vice President and Chief Operating Officer, 1988

Northwestern Bell Telephone Company, Omaha, Nebraska


Class A

Gene Edwards Director and Consultant, First National Bank of Amarillo, 1987 Amarillo, Texas

Charles T. Doyle Chairman and Chief Executive Officer, Gulf National Bank, 1988 Texas City, Texas

Robert G. Greer Chairman of the Board, Tanglewood Bank, N.A., Houston, Texas 1989


May 1987



Class B

Robert L. Pfluger Robert Ted Enloe III

Gary E. Wood

Rancher, San Angelo, Texas President, Lomas & Nettleton Financial Corporation, Dallas,

Texas Director of Governmental Relations and Professor of Finance,

Baylor University, Waco, Texas


1987 1988

1989

Class C

Bobby R. Inman Chairman of the Board and Chief Executive Officer, Westmark 1987 Systems, Inc., Austin, Texas

Hugh G. Robinson President, Cityplace Development Corporation, Dallas, Texas 1988 Leo E. Linbeck, Jr. Chairman and Chief Executive Officer, Linbeck Construction 1989

Corporation, Houston, Texas

—EL PASO BRANCH


Henry B. Ellis President and Chief Credit Officer, MBank El Paso, N.A., 1987 El Paso, Texas

Gerald W. Thomas President Emeritus and Professor of Animal Range Science, Center 1987 for International Programs, New Mexico State University, Las Cruces, New Mexico

Humberto F. Sambrano Partner, Urban General Contractors, Inc., El Paso, Texas 1988 David L. Stone President, The Portales National Bank, Portales, New Mexico 1989


Mary Carmen Saucedo Vice President, Saucedo Bros., Inc., El Paso, Texas 1987 Peyton Yates President, Yates Drilling Company, Artesia, New Mexico 1988 John R. Sibley President, Delaware Mountain Enterprises, Carlsbad, New Mexico 1989

—HOUSTON BRANCH


Thomas B. McDade

David E. Sheffield Jeff Austin, Jr. Jenard M. Gross

Vice Chairman (Retired), Texas Commerce Bancshares, Inc., 1987 Houston, Texas

Director, First Victoria National Bank, Victoria, Texas 1987 President, First National Bank of Jacksonville, Jacksonville, Texas 1988 Chairman of the Board and Chief Executive Officer, United 1989

Savings Association of Texas, Houston, Texas


Andrew L. Jefferson, Jr. Gilbert D. Gaedcke, Jr.

Walter M. Mischer, Jr.

Attorney, Jefferson, Mims, Plummer, and Rice, Houston, Texas 1987 Chairman of the Board and Chief Executive Officer, Gaedcke 1988

Equipment Company, Houston, Texas President, The Mischer Corporation, Houston, Texas 1989


May 1987


DISTRICT 11—Continued TERM Expires Dec. 31



Joe D. Barbee

Robert T. Rork

Jane Flato Smith C. Ivan Wilson

President and Chief Executive Officer, Barbee-Neuhaus Implement 1987 Company, Weslaco, Texas

Senior Chairman of the Board, RepublicBank San Antonio, N.A., 1987 San Antonio, Texas

Rancher, San Antonio, Texas 1988 Chairman of the Board and Chief Executive Officer, First City 1989

Bank of Corpus Christi, Corpus Christi, Texas


Ruben M. Garcia Chief Executive Officer, Modern Machine Shop, Inc., Laredo, 1987 Texas

Robert F. McDermott Chairman of the Board and President, United Services Automobile 1988 Association, San Antonio, Texas

Patricia P. Lebermann President, Patterson Investments, Inc., Austin, Texas 1989


Class A

Donald J. Gehb

Spencer F. Eccles

Rayburn S. Dezember

Class B

George H. Weyerhaeuser

Togo W. Tanaka John C. Hampton

Class C

Fred W. Andrew Carolyn S. Chambers

Robert F. Erburu

President and Chief Executive Officer, Alameda Bancorporation 1987 and Alameda First National Bank, Alameda, California

Chairman and Chief Executive Officer, First Security Corporation, 1988 Salt Lake City, Utah

Chairman, President, and Chief Executive Officer, Central Pacific 1989 Corporation, and Chairman, American National Bank, Bakersfield, California

President and Chief Executive Officer, Weyerhaeuser Company, 1987 Tacoma, Washington

Chairman, Gramercy Enterprises, Inc., Los Angeles, California 1988 President, Willamina Lumber Company, Portland, Oregon 1989

Partner, Andrew & Williamson Sales Co., Bakersfield, California 1987 President and Chief Executive Officer, Chambers Communications 1988

Corp., Eugene, Oregon Chairman of the Board and Chief Executive Officer, The Times 1989

Mirror Company, Los Angeles, California


May 1987



—Los ANGELES BRANCH TERM Expires Dec. 31


Robert R. Dockson Chairman of the Board, CalFed, Inc. and California Federal Savings and Loan Association, Los Angeles, California

1987

Howard C. McCrady Chairman of the Board and Chief Executive Officer, Valley National Bank of Arizona, Phoenix, Arizona

1988

William L. Tooley Chairman, Tooley & Company, Investment Builders, Los Angeles, California

1988

Fred D. Jensen Chairman of the Board, President, and Chief Executive Officer, National Bank of Long Beach, Long Beach, California

1989


Richard C. Seaver Chairman, Hydril Company, Los Angeles, California 1987 Thomas R. Brown, Jr. Chairman of the Board, Burr-Brown Corporation, Tucson, Arizona 1988 Yvonne Brathwaite Burke Senior Partner, Burke, Robinson & Pearman, Los Angeles, 1989

California

-PORTLAND BRANCH


John A. Elorriaga

G. Dale Weight

Herman C. Bradley, Jr.

Wayne E. Phillips, Jr.

Chairman of the Board and Chief Executive Officer, United States 1987 National Bank of Oregon, Portland, Oregon

Chairman of the Board and Chief Executive Officer, Benjamin 1987 Franklin Savings and Loan Association, Portland, Oregon

President and Chief Executive Officer, Tri-County Banking 1988 Company, Junction City, Oregon

Vice President, Phillips Ranch, Inc., Baker, Oregon 1989


Sandra A. Suran G. Johnny Parks

Paul E. Bragdon

Partner, Peat, Marwick, Mitchell & Co., Portland, Oregon 1987 Former Northwest Regional Director, International 1988

Longshoremen's & Warehousemen's Union, Portland, Oregon President, Reed College, Portland, Oregon 1989



Lela M. Ence Executive Director, University of Utah Alumni Association, 1987 Salt Lake City, Utah

Fred C. Humphreys Director and Former Chairman of the Board, Moore Financial 1987 Group, Boise, Idaho

Gerald R. Christensen Chairman and President, First Federal Savings and Loan 1988 Association, Salt Lake City, Utah

Ronald S. Hanson President, Zions First National Bank, Salt Lake City, Utah 1989


May 1987


DISTRICT 12—Continued TERM Expires Dec. 31

—SALT LAKE CITY BRANCH—Continued

Appointed by the Board of Governors Don M. Wheeler President, Wheeler Machinery Company, Salt Lake City, Utah 1987 D.N. Rose President and Chief Executive Officer, Mountain Fuel Supply 1988

Company, Salt Lake City, Utah Robert N. Pratt President, Moriah Enterprises, Inc., Bountiful, Utah 1989

—SEATTLE BRANCH


John N. Nordstrom Co-Chairman of the Board, Nordstrom, Inc., Seattle, Washington 1987 William S. Randall Chairman, President and Chief Executive Officer, First Interstate 1987

Bank of Washington, N.A., Seattle, Washington William W. Philip Chairman of the Board and Chief Executive Officer, Puget Sound 1988

Bancorp, Tacoma, Washington H.H. Larison President, Columbia Paint Company, Spokane, Washington 1989


John W. Ellis President and Chief Executive Officer, Puget Sound Power & Light 1987 Company, Bellevue, Washington

Byron I. Mallott Chief Executive Officer, Sealaska Corporation, Juneau, Alaska 1988 Carol A. Nygren Managing Partner, Laventhol & Horwath, Seattle, Washington 1989


May 1987

3 4 5


Regional decentralization and a combination of gov-ernmental and private characteristics are important hallmarks of the uniqueness of the Federal Reserve System. Under the Federal Reserve Act, decentrali-zation was achieved by division of the country into 12 regions called Federal Reserve Districts and the es-tablishment in each District of a separately incorpo-rated Federal Reserve Bank with its own board of directors. The blending of private and governmental characteristics is provided through ownership of the stock of the Reserve Bank by member banks in its District, who also elect the majority of the board of directors, and by the general supervision of the Re-serve Banks by the Board of Governors, an agency of the federal government. The Board also appoints a minority of each board of directors. Thus, there are essential elements of regional participation and coun-sel in the conduct of the System's affairs for which the Federal Reserve relies importantly on the contribu-tions of the directors of the Federal Reserve Banks and Branches.

The following list of directors of Federal Reserve Banks and Branches shows for each director the class of directorship, the principal business affiliation, and the date the current term expires. Each Federal Re-serve Bank has nine members on its board of direc-tors: the member banks elect the three Class A and three Class B directors, and the Board of Governors appoints the three directors in Class C. Directors are

chosen without discrimination as to race, creed, color, sex, or national origin.

Class A directors of each Reserve Bank represent the stockholding member banks of the Federal Re-serve District. Class B and Class C directors represent the public and are chosen with due, but not exclusive, consideration to the interests of agriculture, com-merce, industry, services, labor, and consumers; they may not be officers, directors, or employees of any bank. In addition, Class C directors may not be stockholders of any bank. The Board of Governors designates annually one Class C director as chairman of the board of directors of each District Bank and designates another Class C director as deputy chair-man.

Each of the 25 Branches of Federal Reserve Banks has a board of either seven or five directors, a majority of whom are appointed by the parent Federal Reserve Bank; the others are appointed by the Board of Gov-ernors. One of the Board's appointees is designated annually as chairman of the board of that Branch in a manner prescribed by the parent Federal Reserve Bank.

The names of the chairman and deputy chairman of the board of directors of each Reserve Bank and of the chairman of each Branch are published monthly in the FEDERAL RESERVE BULLETIN.1


DISTRICT 1—BOSTON

Class A

William C. Bullock, Jr.

John P. LaWare

Richard D. Wardell

Class B Matina S. Horner Richard M. Oster

Stephen R. Levy

Chairman and President, Merrill Bankshares Company, Bangor, 1988 Maine

Chairman and Chief Executive Officer, Shawmut Corporation, 1989 Boston, Massachusetts

President and Chief Executive Officer, The National Iron Bank, 1990 Salisbury, Connecticut

President, Radcliffe College, Cambridge, Massachusetts 1988 President and Chief Executive Officer, Cookson America, Inc., 1989

Providence, Rhode Island Chairman and Chief Executive Officer, Bolt Beranek and Newman, 1990

Inc., Cambridge, Massachusetts


May 1988



Class C

George N. Hatsopoulos

Richard N. Cooper

Richard L. Taylor


Class A

John F. McGillicuddy


J. Kirby Fowler

Class B

Richard L. Gelb

John A. Georges

John F. Welch, Jr.

Class C

John Brademas John R. Opel

Ellen V. Futter

Chairman of the Board and President, Thermo Electron Corporation, Waltham, Massachusetts

Maurits C. Boas Professor of International Economics, Harvard University, Cambridge, Massachusetts

President, Taylor Properties, Inc., Boston, Massachusetts

Chairman of the Board and Chief Executive Officer, Manufacturers Hanover Trust Company, New York, New York

Chairman of the Board and President, Banco de Ponce, Ponce, Puerto Rico

President and Chief Executive Officer, The Flemington National Bank and Trust Company, Flemington, New Jersey

Chairman and Chief Executive Officer, Bristol-Myers Company, New York, New York

Chairman and Chief Executive Officer, International Paper Company, New York, New York

Chairman and Chief Executive Officer, General Electric Company, Fairfield, Connecticut

President, New York University, New York, New York Chairman of the Executive Committee, International Business

Machines Corporation, Armonk, New York President, Barnard College, Columbia University, New York,

New York

Term expires

Dec. 31

1988

1989

1990

1988

1989

1990

1988

1989

1990

1988 1989

1990

—BUFFALO BRANCH


R. Carlos Carballada

Donald I. Wickham Harry J. Sullivan Norman W. Sinclair

President and Chief Executive Officer, Central Trust Company, 1988 Rochester, New York

President, Tri-Way Farms, Inc., Stanley, New York 1988 President, Salamanca Trust Company, Salamanca, New York 1989 President and Chief Executive Officer, Lockport Savings Bank, 1990

Lockport, New York


Mary Ann Lambertsen Vice President, Human Resources, The Quaker Oats Company, 1988 Fisher-Price Division, East Aurora, New York

Matthew Augustine President and Chief Executive Officer, Eltrex Industries, Inc., 1989 Rochester, New York

Paul E. McSweeney Executive Vice President, United Food and Commercial Workers, 1990 District Union Local One, AFL-CIO, Buffalo, New York


May 1988



Class A

Clarence D. McCormick

George A. Butler

Constantinos I. Costalas

Class B

Nicholas Riso

Carl E. Singley

Charles F. Seymour

Class C

Nevius M. Curtis

Peter A. Benoliel

Jane G. Pepper

President, The Farmers and Merchants National Bank, Bridgeton, New Jersey

Chairman and Chief Executive Officer, First Pennsylvania Bank, N.A., Philadelphia, Pennsylvania

Chairman, President, and Chief Executive Officer, Glendale National Bank of New Jersey, Voorhees, New Jersey

President and Chief Executive Officer, Giant Food Stores, Inc., Carlisle, Pennsylvania

Partner, White, McClelland and Singley, Philadelphia, Pennsylvania

Chairman, Jackson-Cross Company, Philadelphia, Pennsylvania

Chairman and Chief Executive Officer, Delmarva Power, Wilmington, Delaware

Chairman of the Board, Quaker Chemical Corporation, Conshohocken, Pennsylvania

President, The Pennsylvania Horticultural Society, Philadelphia, Pennsylvania

Term expires

Dec. 31

1988

1989

1990

1988

1989

1990

1988

1989

1990


Class A

William A. Stroud Frank Wobst

William H. May

Class B

Daniel M. Galbreath Laban P. Jackson, Jr.

Verna K. Gibson

Class C

John R. Miller

Charles W. Parry

Robert D. Storey

Chairman, First-Knox National Bank, Mount Vernon, Ohio 1988 Chairman and Chief Executive Officer, Huntington Bancshares 1989

Incorporated, Columbus, Ohio Chairman and President, First National Bank of Nelsonville, 1990

Nelsonville, Ohio

President, John W. Galbreath, Columbus, Ohio 1988 Chairman of the Board, International Spike, Inc., 1989

Lexington, Kentucky President, The Limited Stores, Inc., Columbus, Ohio 1990

Former President and Chief Operating Officer, The Standard Oil 1988 Company (Ohio), Cleveland, Ohio

Director, and Former Chairman and Chief Executive Officer, 1989 Aluminum Company of America, Pittsburgh, Pennsylvania

Partner, Burke, Haber and Berick, Cleveland, Ohio 1990


May 1988




Appointed by the Federal Reserve Bank Robert A. Hodson President and Chief Executive Officer, 1st Security Bank,

Hillsboro, Ohio Robert M. Duncan President and Chief Executive Officer, First National Bank of

Louisa, Louisa, Kentucky Jack W. Buchanan President, Sphar and Company, Inc., Winchester, Kentucky Jerry L. Kirby Chairman of the Board and President, Citizens Federal Savings and

Loan Association, Dayton, Ohio


Kate Ireland

Owen B. Butler

Marvin Rosenberg

National Chairman, Frontier Nursing Service, Wendover, Kentucky

Chairman of the Board (Retired), The Procter and Gamble Company, Cincinnati, Ohio

Partner, Towne Properties, Ltd., Cincinnati, Ohio

Term expires

Dec. 31

1988

1989

1990 1990

1988

1989

1990



Lawrence F. Klima

Thomas G. Dove

George A. Davidson, Jr.

Stephen C. Hansen

President, The First National Bank of Pennsylvania, Erie, Pennsylvania

Chairman of the Executive Committee and Chief Executive Officer, Wheeling Dollar Bank, Wheeling, West Virginia

Chairman and Chief Executive Officer, Consolidated Natural Gas Company, Pittsburgh, Pennsylvania

President and Chief Executive Officer, Dollar Bank, F.S.B., Pittsburgh, Pennsylvania


James E. Haas

Karl M. von der Hey den


President and Chief Operating Officer, National Intergroup, Inc., Pittsburgh, Pennsylvania

Senior Vice President-Finance and Chief Financial Officer, H.J. Heinz Company, Pittsburgh, Pennsylvania

President and Chief Executive Officer, Allegheny Housing Rehabilitation Corporation, Pittsburgh, Pennsylvania

1988

1989

1990

1990

1988

1989

1990


Class A

K. Donald Menefee

Chester A. Duke

John F. McNair III

Chairman of the Board and Chief Executive Officer, Madison 1988 National Bank, and Chairman of the Board and President, James Madison Limited, Washington, D.C.

President and Chief Executive Officer, Marion National Bank, 1989 Marion, South Carolina

President and Chief Executive Officer, Wachovia Bank and Trust 1990 Company, N.A., and The Wachovia Corporation, Winston-Salem, North Carolina


May 1988



Class B Edward H. Covell Thomas B. Cookerly

Jack C. Smith

Class C Robert A. Georgine

Leroy T. Canoles, Jr. Hanne M. Merriman

President, The Covell Company, Easton, Maryland President, Broadcast Division, Allbritton Communications,

Washington, D.C. Chairman of the Board and Chief Executive Officer, K-VA-T Food

Stores, Inc., Grundy, Virginia

President, Building and Construction Trades Department, AFL-CIO, Washington, D.C.

President, Kaufman and Canoles, Norfolk, Virginia President and Chief Executive Officer, Honeybee, Inc.,

New York, New York

Term expires

Dec. 31

1988 1989

1990

1988

1989 1990

—BALTIMORE BRANCH Appointed by the Federal Reserve Bank

H. Grant Hathaway

Joseph W. Mosmiller

Charles W. Hoff III


Chairman of the Board, Equitable Bank, N.A., Baltimore, 1988 Maryland

Chairman of the Board, Loyola Federal Savings and Loan 1988 Association, Baltimore, Maryland



Appointed by the Board of Governors Thomas R. Shelton President, Case Foods, Inc., Salisbury, Maryland 1988 John R. Hardesty, Jr. President, Preston Energy, Inc., Kingwood, West Virginia 1989 Gloria L. Johnson Regional Vice President and Director of Stores, Bloomingdale's 1990

Department Stores, Kensington, Maryland

—CHARLOTTE BRANCH

Appointed by the Federal Reserve Bank J. Donald Collier President and Chief Executive Officer, Orangeburg National Bank, 1988

Orangeburg, South Carolina James G. Lindley Chairman and Chief Executive Officer, South Carolina National 1988

Corporation, and Chairman, President, and Chief Executive Officer, The South Carolina National Bank, Columbia, South Carolina

John A. Hardin Chairman of the Board and President, First Federal Savings Bank, 1989 Rock Hill, South Carolina

James M. Culberson, Jr. Chairman and President, The First National Bank of Randolph 1990 County, Asheboro, North Carolina

Appointed by the Board of Governors G. Alex Bernhardt President, Bernhardt Industries, Inc., Lenoir, North Carolina 1988 Anne M. Allen Vice President and General Manager, Merrill Lynch Realty, 1989

Greensboro, North Carolina William E. Masters President, Perception, Inc., Easley, South Carolina 1990


May 1988



Class A

Virgil H. Moore, Jr.,

Mary W. Walker

E.B. Robinson, Jr.

Class B

Bernard F. Sliger Paul W. Green

Gary J. Chouest

Class C

Chairman and Chief Executive Officer, First Farmers and Merchants National Bank, Columbia, Tennessee

Vice Chairman, The National Bank of Walton County, Monroe, Georgia

Chairman and Chief Executive Officer, Deposit Guaranty National Bank and Deposit Guaranty Corporation, Jackson, Mississippi

President, Florida State University, Tallahassee, Florida President and Chief Executive Officer, American Cast Iron Pipe

Company, Birmingham, Alabama President, Edison Chouest Offshore, Inc., Galliano, Louisiana

Term expires

Dec. 31

1988

1989

1990

1988 1989

1990

Larry L. Prince President and Chief Operating Officer, Genuine Parts Company, 1988 Atlanta, Georgia

Bradley Currey, Jr. President, Rock-Tenn Company, Norcross, Georgia 1989 Edwin A. Huston Senior Executive Vice President-Finance, Ryder System, Inc., 1990

Miami, Florida



William F. Childress President, First American Federal Savings and Loan Association, Huntsville, Alabama

1988

Milton A. Wendland Owner-Operator, Autauga Farming Company, Autaugaville, Alabama

1988

John H. Newman President and Chief Executive Officer, First National Bank of Scottsboro, Scottsboro, Alabama

1989

Harry B. Brock, Jr. Chairman and Chief Executive Officer, Central Bank of the South, Birmingham, Alabama

1990


Roy D. Terry President and Chief Executive Officer, Terry Manufacturing 1988 Company, Inc., Roanoke, Alabama

Nelda P. Stephenson President, Nelda Stephenson Chevrolet, Inc., Florence, Alabama 1989 A.G. Trammell President, Alabama Labor Council, AFL-CIO, Birmingham, 1990

Alabama



Robert R. Deison Chairman of the Board and President, Andrew Jackson State 1988 Savings and Loan Association, Tallahassee, Florida

George W. Gibbs III President, Atlantic Dry Dock Corporation, Jacksonville, Florida 1988 A. Bronson Thayer Chairman and Chief Executive Officer, First Florida Banks, Inc., 1989

Tampa, Florida Buell G. Duncan, Jr. Chairman, President, and Chief Executive Officer, Sun Bank, 1990

N.A., Orlando, Florida


May 1988



—JACKSONVILLE BRANCH—Continued ^xpire3

s, Dec. 31 Appointed by the Board of Governors

E. William Nash, Jr. President, South-Central Operations, The Prudential Insurance 1988 Company of America, Jacksonville, Florida

Saundra H. Gray Co-Owner, Gemini Springs Farm, DeBary, Florida 1989 Vacancy 1990

—MIAMI BRANCH


William H. Losner President and Chief Executive Officer, The First National Bank of 1988 Homestead, Homestead, Florida

James H. Robinson President, Sun Bank/South Florida, N.A., Fort Lauderdale, 1989 Florida

Robert M. Taylor Chairman and Chief Executive Officer, The Mariner Group, Inc., 1990 Fort Myers, Florida

Frederick A. Teed President and Chief Executive Officer, Community Savings, F.A., 1990 Riviera Beach, Florida


Sue McCourt Cobb Attorney, Greenberg, Traurig, Askew, Hoffman, Lipoff, Rosen, 1988 and Quentel, P.A., Miami, Florida

Jose L. Saumat President, Kaufman and Roberts, Inc., Miami, Florida 1989 Robert D. Apelgren President, Apelgren Corporation, Pahokee, Florida 1990

—NASHVILLE BRANCH


W.L. Calloway, Jr. Chairman, Quality Lawn Systems, Inc., Nashville, Tennessee 1988 Shirley A. Zeitlin President, Shirley Zeitlin and Co. Realtors, Nashville, Tennessee 1988 Vacancy 1989 Lawrence A. Roseberry Chairman, First National Bank and Trust Company, and Chairman 1990

and Chief Executive Officer, First Franklin Bancshares, Inc., Athens, Tennessee


Condon S. Bush President, Bush Brothers and Company, Dandridge, Tennessee 1988 Patsy R. Williams Partner, Rhyne Lumber Company, Newport, Tennessee 1989 Vacancy 1990



Alan R. Barton President and Chief Executive Officer, Mississippi Power Company, Gulfport, Mississippi

1988

Robert M. Shofstahl President and Chief Executive Officer, Pelican Homestead and Savings Association, Metairie, Louisiana

1988

Robert S. Gaddis President and Chief Executive Officer, Trustmark National Bank, Laurel, Mississippi

1989

Ronald M. Boudreaux President and Chief Executive Officer, First National Bank of St. Landry Parish, Opelousas, Louisiana

1990


May 1988


DISTRICT 6—Continued Term —NEW ORLEANS BRANCH—Continued *xpir1s, Dec. 31


Sharon A. Perlis President, Sharon A. Perlis, (APLC), Metairie, Louisiana 1988 James A. Hefner President, Jackson State University, Jackson, Mississippi 1989 Caroline G. Theus President, Inglewood Land and Development Company, 1990

Alexandria, Louisiana


Class A

John W. Gabbert

B.F. Backlund

Barry F. Sullivan

Class B

Max J. Nay lor Paul J. Schierl

Edward D. Powers

President and Chief Executive Officer, First of America Bank- 1988 La Porte, N.A., La Porte, Indiana

President and Chief Executive Officer, Bartonville Bank, 1989 Bartonville, Illinois

Chairman of the Board and Chief Executive Officer, First National 1990 Bank of Chicago, Chicago, Illinois

Farmer, Jefferson, Iowa 1988 President and Chief Executive Officer, Fort Howard Paper 1989

Company, Green Bay, Wisconsin Chairman of the Board, Mueller Company, Decatur, Illinois 1990

Class C

Charles S. McNeer

Robert J. Day

Marcus Alexis

Chairman of the Board and Chief Executive Officer, Wisconsin 1988 Electric Power Company, Milwaukee, Wisconsin

Chairman and Chief Executive Officer, USG Corporation, Chicago, 1989 Illinois

Dean, College of Business Administration, University of Illinois at 1990 Chicago, Chicago, Illinois

—DETROIT BRANCH


Donald R. Mandich Chairman and Chief Executive Officer, Comerica Bank-Detroit, 1988 Detroit, Michigan

Ronald D. Story Chairman and President, The Ionia County National Bank of Ionia, 1989 Ionia, Michigan

James A. Aliber Chairman of the Board and Chief Executive Officer, First Federal 1990 of Michigan, Detroit, Michigan

Frederik G.H. Meijer Chairman of the Board, Meijer, Inc., Grand Rapids, Michigan 1990


Phyllis E. Peters Director, Professional Standards Review, Touche Ross and 1988 Company, Detroit, Michigan

Richard T. Lindgren President and Chief Executive Officer, Cross and Trecker 1989 Corporation, Bloomfield Hills, Michigan

Beverly Beltaire President, P R Associates, Inc., Detroit, Michigan 1990


May 1988



Class A

Robert E. Menz

David W. Kemper II

H.L. Hembree III

Class B

Robert J. Sweeney Frank M. Mitchener, Jr. Roger W. Schipke

Chairman of the Board and President, The First National Bank of Highland, Highland, Illinois

Chairman and Chief Executive Officer, Commerce Bank of St. Louis, N.A., Clayton, Missouri, and President and Chief Executive Officer, Commerce Bancshares, Inc., Kansas City, Missouri

Chairman of the Board and Chief Executive Officer, Arkansas Best Corporation, Fort Smith, Arkansas

Consultant, Murphy Oil Corporation, El Dorado, Arkansas President, Mitchener Farms, Inc., Sumner, Mississippi Senior Vice President, GE Appliances, General Electric Company,

Louisville, Kentucky

Class C

Robert L. Virgil, Jr.

H. Edwin Trusheim

Janet McAfee Weakley



Robert C. Connor, Jr.

Dean, John M. Olin School of Business, Washington University in St. Louis, St. Louis, Missouri

Chairman, President, and Chief Executive Officer, General American Life Insurance Company, St. Louis, Missouri

President, Janet McAfee, Inc., Clayton, Missouri

Patricia M. Townsend David Armbruster

W. Wayne Hartsfield

President, Union National Bank of Little Rock, Little Rock, Arkansas

President, Townsend Company, Stuttgart, Arkansas President, First America Federal Savings Bank,

Fort Smith, Arkansas President and Chief Executive Officer, First National Bank,

Searcy, Arkansas


James R. Rodgers

L. Dickson Flake

William E. Love

Airport Manager, Little Rock Regional Airport, Little Rock, Arkansas

President, Barnes, Quinn, Flake and Anderson, Inc., Little Rock, Arkansas

President, Sound-Craft Systems, Inc., Morrilton, Arkansas



Allan S. Hanks Morton Boyd

Irving W. Bailey II

Wayne G. Overall, Jr.

Director, The Anderson National Bank, Lawrenceburg, Kentucky President, First Kentucky National Corporation, Louisville,

Kentucky President and Chief Operating Officer, Capital Holding

Corporation, Louisville, Kentucky President, First Federal Savings Bank, Elizabethtown, Kentucky

Term expires

Dec. 31

1988

1989

1990

1988 1989 1990

1988

1989

1990

1988

1989 1990

1990

1988

1989

1990

1988

1989

1990

1990


May 1988


DISTRICT 8—Continued TERM expires

—LOUISVILLE BRANCH—Continued DEC. n


Lois H. Gray Chairman of the Board, James N. Gray Construction Company, 1988 Inc., Glasgow, Kentucky

Thomas A. Alvey Delegate, Owensboro Council of Labor, Owensboro, Kentucky 1989 Raymond M. Burse President, Kentucky State University, Frankfort, Kentucky 1990

—MEMPHIS BRANCH


William H. Brandon, Jr. President, First National Bank of Phillips County, 1988 Helena, Arkansas

Michael J. Hennessey President, Munro and Company, Inc., Wynne, Arkansas 1989 Thomas M. Garrott President and Chief Operating Officer, National Bank of Commerce 1990

and National Commerce Bancorporation, Memphis, Tennessee Larry A. Watson Chairman of the Board and President, Liberty Federal Savings 1990

Bank, Paris, Tennessee


Katherine Hinds Smythe Sandra B. Sanderson

Seymour B. Johnson

President, Memorial Park, Inc., Memphis, Tennessee President and Chief Executive Officer, Sanderson Plumbing

Products, Inc., Columbus, Mississippi Owner, Kay Planting Company, Indianola, Mississippi

1988 1989

1990


Class A

Duane W. Ring Charles W. Ekstrum

Joel S. Harris

Class B

Richard L. Falconer Bruce C. Adams Earl R. St. John, Jr.

Class C

John A. Rollwagen

Michael W. Wright

Delbert W. Johnson

President, Norwest Bank La Crosse, N.A., La Crosse, Wisconsin 1988 President and Chief Executive Officer, First National Bank, Philip, 1989

South Dakota President, Yellowstone Holding Company, Columbus, Montana 1990

District Staff Manager, Northwestern Bell, Minneapolis, Minnesota 1988 Partner, Triple Adams Farms, Lansford, North Dakota 1989 President and Owner, St. John Forest Products, Inc., Spalding, 1990

Michigan

Chairman and Chief Executive Officer, Cray Research Inc., 1988 Minneapolis, Minnesota

Chairman and Chief Executive Officer, Super Valu Stores, Inc., 1989 Minneapolis, Minnesota

President and Chief Executive Officer, Pioneer/Norelkote, 1990 Minneapolis, Minnesota


May 1988



—HELENA BRANCH Appointed by the Federal Reserve Bank

Noble E. Vosburg

Robert H. Waller

F. Charles Mercord

President and Chief Executive Officer, Pacific Hide and Fur Corporation, Great Falls, Montana

President and Chief Executive Officer, First Interstate Bank of Billings, N.A., Billings, Montana

President and Managing Officer, First Federal Savings Bank of Montana, Kalispell, Montana


Marcia S. Anderson

Warren H. Ross

President, Bridger Canyon Stallion Station, Inc., Bozeman, Montana

President, Ross 8-7 Ranch, Inc., Chinook, Montana

Term expires

Dec. 31

1988

1988

1989

1988

1989


Class A

Robert L. Hollis

Harold L. Gerhart, Jr.

Roger L. Reisher

Class B

Jerry D. Geist

Richard D. Harrison

S. Dean Evans, Sr.

Class C

Irvine O. Hockaday, Jr.

Fred W. Lyons, Jr.

Thomas E. Rodriguez

Chairman of the Board and Chief Executive Officer, First National Bank and Trust Co., Okmulgee, Oklahoma

President and Chief Executive Officer, First National Bank, Newman Grove, Nebraska

Co-Chairman, FirstBank Holding Company of Colorado, Lakewood, Colorado

Chairman and President, Public Service Company of New Mexico, Albuquerque, New Mexico

Chairman and Chief Executive Officer, Fleming Companies, Inc., Oklahoma City, Oklahoma

Partner, Evans Grain Company, Salina, Kansas

President and Chief Executive Officer, Hallmark Cards, Inc., Kansas City, Missouri

President and Chief Executive Officer, Marion Laboratories, Inc., Kansas City, Missouri

President and General Manager, Thomas E. Rodriguez and Associates, P.C., Aurora, Colorado

—DENVER BRANCH


George S. Jenks

W. Richard Scarlett III Henry A. True III Junius F. Baxter

President and Chief Executive Officer, Sunwest Financial Services, Inc., Albuquerque, New Mexico

President, Jackson State Bank, Jackson Hole, Wyoming Partner, True Companies, Casper, Wyoming Chairman of the Board and Chief Executive Officer, Bank Western

Federal Savings Bank, Denver, Colorado

1988

1989

1990

1988

1989

1990

1988

1989

1990

1988

1988 1989 1990


May 1988


DISTRICT 10—Continued —DENVER BRANCH—Continued


Anthony W. Williams

James C. Wilson Gilbert Sanchez

Attorney, Williams, Turner, and Holmes, P.C., Grand Junction, Colorado

Management Consultant, Longmont, Colorado President, New Mexico Highlands University, Las Vegas,

New Mexico



William O. Alexander

W. Dean Hidy William H. Crawford

Chairman, Continental Federal Savings and Loan Association, Oklahoma City, Oklahoma

Chairman of the Board, Triad Bank, N.A., Tulsa, Oklahoma Chairman and Chief Executive Officer, First National Bank and

Trust Company, Frederick, Oklahoma


John F. Snodgrass

Patience S. Latting

—OMAHA BRANCH


John R. Cochran

John T. Selzer

Charles H. Thorne

President and Trustee, The Samuel Roberts Noble Foundation, Inc., Ardmore, Oklahoma


President and Chief Executive Officer, Norwest Bank Nebraska, N.A., Omaha, Nebraska

President, Scottsbluff National Bank and Trust Company, Scottsbluff, Nebraska

Chairman of the Board and Chief Executive Officer, First Federal Savings and Loan Association of Lincoln, Lincoln, Nebraska


Janice D. Stoney

Kenneth L. Morrison

President and Chief Executive Officer, Northwestern Bell Telephone Company, Omaha, Nebraska

President, Morrison Enterprises, Hastings, Nebraska

Term expires

Dec. 31

1988

1989 1990

1988

1988 1989

1988

1989

1988

1989

1989

1988

1989


Class A

Charles T. Doyle Chairman and Chief Executive Officer, Gulf National Bank, 1988 Texas City, Texas

Robert G. Greer Chairman of the Board, Tanglewood Bank, N.A., Houston, Texas 1989 T. C. Frost Chairman of the Board, The Frost National Bank, San Antonio, 1990

Texas


May 1988



Class B

Robert Ted Enloe III

Gary E. Wood

Robert L. Pfluger

Class C

Hugh G. Robinson Leo E. Linbeck, Jr.

Bobby R. Inman

President, Lomas and Nettleton Financial Corporation, Dallas, Texas

Director of Governmental Relations, Baylor University, Waco, Texas

Rancher, San Angelo, Texas

President, Cityplace Development Corporation, Dallas, Texas Chairman and Chief Executive Officer, Linbeck Construction

Corporation, Houston, Texas Chairman of the Board and Chief Executive Officer, Westmark

Systems Inc., Austin, Texas

Term expires

Dec. 31

1988

1989

1990

1988 1989

1990

—EL PASO BRANCH


Humberto F. Sambrano Partner, Urban General Contractors, Inc., El Paso, Texas 1988 David L. Stone President, The Portales National Bank, Portales, New Mexico 1989 Henry B. Ellis President, MBank El Paso, N.A., El Paso, Texas 1990 Ethel Ortega Olson Chairman of the Board and Chief Executive Officer, Otero Savings 1990

and Loan Association, Alamogordo, New Mexico


Peyton Yates President, Yates Drilling Company, Artesia, New Mexico 1988 John R. Sibley President, Tri-Mountain Enterprises, Carlsbad, New Mexico 1989 Diana S. Natalicio Interim President and Vice President for Academic Affairs, 1990

The University of Texas at El Paso, El Paso, Texas

—HOUSTON BRANCH


Jeff Austin, Jr. President, First National Bank of Jacksonville, Jacksonville, Texas 1988 Jenard M. Gross Chairman of the Board and Chief Executive Officer, United 1989

Savings Association of Texas, Houston, Texas Clive Runnells President and Director, Runnells Cattle Company, Bay City, Texas 1990 David E. Sheffield Director, First Victoria National Bank, Victoria, Texas 1990


Gilbert D. Gaedcke, Jr.

Walter M. Mischer, Jr. Andrew L. Jefferson, Jr.

Chairman of the Board and Chief Executive Officer, Gaedcke Equipment Company, Houston, Texas

President, The Mischer Corporation, Houston, Texas Attorney, Jefferson, Mims, and Plummer, Houston, Texas

1988

1989 1990


May 1988





Jane Flato Smith C. Ivan Wilson

Robert T. Rork

Sam R. Sparks

Investor and Rancher, San Antonio, Texas Chairman of the Board and Chief Executive Officer, First City

Bank of Corpus Christi, Corpus Christi, Texas Chairman of the Board and Chief Executive Officer, First

RepublicBank Austin, Austin, Texas President, Sam R. Sparks, Inc., Progreso, Texas

Term expires

Dec. 31

1988

1989

1990

1990


Robert F. McDermott Chairman of the Board and President, United Services Automobile 1988 Association, San Antonio, Texas

Lawrence E. Jenkins Vice President, Austin Division, Lockheed Missiles and Space Co., 1989 Inc., Austin, Texas

Ruben M. Garcia Chief Executive Officer, Modern Machine Shop, Inc., Laredo, 1990 Texas


Class A

Spencer F. Eccles Chairman and Chief Executive Officer, First Security Corporation, 1988 Salt Lake City, Utah

Rayburn S. Dezember Chairman, President, and Chief Executive Officer, Central Pacific 1989 Corporation, and Chairman, American National Bank, Bakersfield, California

R. Blair Hawkes President and Chief Executive Officer, Ireland Bank, Malad City, 1990 Idaho

Class B

Togo W. Tanaka Chairman, Gramercy Enterprises, Inc., Los Angeles, California 1988 John C. Hampton President, Willamina Lumber Company, Portland, Oregon 1989 John N. Nordstrom Co-Chairman of the Board, Nordstrom, Inc., Seattle, Washington 1990

Class C

Carolyn S. Chambers

Robert F. Erburu

Cordell W. Hull

President and Chief Executive Officer, Chambers Communications 1988 Corporation, Eugene, Oregon

Chairman of the Board and Chief Executive Officer, The Times 1989 Mirror Company, Los Angeles, California

Executive Vice President and Director, Bechtel Group, Inc., 1990 San Francisco, California


May 1988


Term expires

Dec. 31


DISTRICT 12—Continued —Los ANGELES BRANCH

Howard C. McCrady

William L. Tooley

Fred D. Jensen

Ross M. Blakely

Chairman of the Board and Chief Executive Officer (Retired), 1988 Valley National Bank of Arizona, Phoenix, Arizona

Chairman, Tooley and Company, Investment Builders, 1988 Los Angeles, California

Chairman of the Board, President, and Chief Executive Officer, 1989 National Bank of Long Beach, Long Beach, California

Chairman of the Executive Committee of the Board, Coast Savings 1990 and Loan, Los Angeles, California


Thomas R. Brown, Jr. Chairman of the Board, Burr-Brown Corporation, Tucson, Arizona 1988 Yvonne Brathwaite Burke Partner, Jones, Day, Reavis and Pogue, Los Angeles, California 1989 Richard C. Seaver Chairman, Hydril Company, Los Angeles, California 1990

—PORTLAND BRANCH


Herman C. Bradley, Jr.

Wayne E. Phillips, Jr. Stephen G. Kimball

G. Dale Weight

President and Chief Executive Officer (Retired), Tri-County 1988 Banking Company, Junction City, Oregon

Vice President, Phillips Ranch, Inc., Baker, Oregon 1989 President and Chief Executive Officer, Baker Boyer Bancorp, 1990

Walla Walla, Washington Chairman of the Board and Chief Executive Officer, Benjamin 1990

Franklin Savings and Loan Association, Portland, Oregon


G. Johnny Parks Former Northwest Regional Director, International 1988 Longshoremen's and Warehousemen's Union, Portland, Oregon

Paul E. Bragdon President, Reed College, Portland, Oregon 1989 Sandra A. Suran Small Business Advocate, Oregon Economic Development 1990

Department, Salem, Oregon



Gerald R. Ghristensen

Ronald S. Hanson Curtis H. Eaton

Virginia P. Kelson

Chairman and President, First Federal Savings and Loan 1988 Association, Salt Lake City, Utah

President, Zions First National Bank, Salt Lake City, Utah 1989 President and Vice Chairman of the Board, Twin Falls Bank and 1990

Trust Company, Twin Falls; Idaho Executive Director, Phoenix Institute, Salt Lake City, Utah 1990


May 1988



—SALT LAKE CITY BRANCH—Continued DEC™


D.N. Rose President and Chief Executive Officer, Mountain Fuel Supply 1988 Company, Salt Lake City, Utah

Robert N. Pratt President and Chief Operating Officer, Bonneville Pacific 1989 Corporation, Salt Lake City, Utah

Don M. Wheeler President, Wheeler Machinery Company, Salt Lake City, Utah 1990

—SEATTLE BRANCH


W.W. Philip Chairman of the Board, President, and Chief Executive Officer, 1988 Puget Sound Bancorp, Tacoma, Washington

H.H. Larison President, Columbia Paint and Coatings, Spokane, Washington 1989 B.R. Beeksma Chairman of the Board and Chief Executive Officer, InterWest 1990

Savings Bank, Oak Harbor, Washington William S. Randall Chairman, President, and Chief Executive Officer, First Interstate 1990

Bank of Washington, N.A., Seattle, Washington


Byron I. Mallott Chief Executive Officer, Sealaska Corporation, Juneau, Alaska 1988 Carol A. Nygren Partner, Laventhol and Horwath, Seattle, Washington 1989 lima Goertzen Administrator, University Hospital, University of Washington, 1990

Seattle, Washington


May 1988

407


Regional decentralization and a combination of governmental and private characteristics are im-portant hallmarks of the uniqueness of the Fed-eral Reserve System. Under the Federal Reserve Act, decentralization was achieved by division of the country into 12 Federal Reserve Districts and the establishment in each District of a separately incorporated Federal Reserve Bank with its own board of directors. The member banks in each District own the stock of their Reserve Bank and elect a majority of the board of directors of that Bank. The Board of Governors, an agency of the federal government, exercises general supervi-sion over the Reserve Banks and appoints a minority of each board of directors of the Re-serve Banks and their Branches. Thus, the Fed-eral Reserve relies importantly in the conduct of the System's affairs on the regional participation and counsel of the directors of the Federal Re-serve Banks and Branches.

The following list of directors of Federal Re-serve Banks and Branches shows for each direc-tor the class of directorship, the principal busi-ness affiliation, and the date the current term expires. Each Federal Reserve Bank has nine members on its board of directors: the member banks elect the three Class A and three Class B directors, and the Board of Governors appoints the three directors in Class C. Directors are chosen without discrimination as to race, creed, color, sex, or national origin.

DISTRICT 1—BOSTON

Class A

Class A directors of each Reserve Bank repre-sent the stockholding member banks of the Fed-eral Reserve District. Class B and Class C direc-tors represent the public and are chosen with due, but not exclusive, consideration to the in-terests of agriculture, commerce, industry, ser-vices, labor, and consumers; they may not be officers, directors, or employees of any bank. In addition, Class C directors may not be stockhold-ers of any bank. The Board of Governors desig-nates annually one Class C director as chairman of the board of directors of each District Bank and designates another Class C director as dep-uty chairman.

Each of the 25 Branches of the Federal Re-serve Banks has a board of either seven or five directors, a majority of whom are appointed by the parent Federal Reserve Bank; the others are appointed by the Board of Governors. One of the Board's appointees is designated annually as chairman of the board of that Branch in a manner prescribed by the parent Federal Reserve Bank.

The names of the chairman and deputy chair-man of the Board of directors of each Reserve Bank and of the chairman of each Branch are published monthly in the F E D E R A L RESERVE

BULLETIN. 1


Term expires Dec.31

Joel B. Alvord Chairman and Chief Executive Officer, Shawmut National 1989 Corporation, Hartford, Connecticut

Richard D. Wardell President and Chief Executive Officer, National Iron Bank of 1990 Salisbury, Salisbury, Connecticut

William H. Chadwick President and Chief Executive Officer, The Howard Bank, N.A., 1991 Burlington, Vermont


May 1989



Class B

Richard M. Oster

Stephen R. Levy

Edward H. Ladd

Class C Richard N. Cooper

Richard L. Taylor George N. Hatsopoulos

President and Chief Executive Officer, Cookson America, Inc., Providence, Rhode Island

Chairman and Chief Executive Officer, Bolt Beranek and Newman, Inc., Cambridge, Massachusetts

President and Chief Executive Officer, Standish, Ayer and Wood, Inc., Boston, Massachusetts

Maurits C. Boas Professor of International Economics, Harvard University, Cambridge, Massachusetts

President, Taylor Properties, Inc., Boston, Massachusetts Chairman of the Board and President, Thermo Electron

Corporation, Waltham, Massachusetts

Term expires

Dec. 31

1989

1990

1991

1989

1990 1991


Class A


J. Kirby Fowler

John F. McGillicuddy

Class B John A. Georges

John F. Welch, Jr. Richard L. Gelb

Class C

Cyrus R. Vance

Ellen V. Futter

Maurice R. Greenberg

Chairman of the Board and President, Banco de Ponce, 1989 Ponce, Puerto Rico

President and Chief Executive Officer, The Flemington National 1990 Bank and Trust Company, Flemington, New Jersey

Chairman of the Board and Chief Executive Officer, Manufacturers 1991 Hanover Trust Company, New York, New York

Chairman and Chief Executive Officer, International Paper, 1989 New York, New York

Chairman and Chief Executive Officer, GE, Fairfield, Connecticut 1990 Chairman and Chief Executive Officer, Bristol-Myers Company, 1991

New York, New York

Presiding Partner, Simpson Thacher and Bartlett, 1989 New York, New York

President, Barnard College, Columbia University, 1990 New York, New York

President and Chief Executive Officer, American International 1991 Group, Inc., New York, New York

-BUFFALO BRANCH

Appointed by the Federal Reserve Bank Harry J. Sullivan Norman W. Sinclair

Richard H. Popp Robert G. Wilmers

President, Salamanca Trust Company, Salamanca, New York 1989 Chairman and Chief Executive Officer, Lockport Savings Bank, 1990

Lockport, New York Operating Partner, Southview Farm, Castile, New York 1991 Chairman and Chief Executive Officer, Manufacturers and Traders 1991

Trust Company, Buffalo, New York


May 1989



BUFFALO BRANCH—Continued Dec~ 31

Appointed by the Board of Governors Matthew Augustine President and Chief Executive Officer, Eltrex Industries, Inc., 1989

Rochester, New York Paul E. McSweeney Executive Vice President, United Food and Commercial Workers, 1990

District Union Local One, AFL-CIO, Amherst, New York Mary Ann Lambertsen Vice President, Human Resources, The Quaker Oats Company, 1991

Fisher-Price Division, East Aurora, New York


Class A George A. Butler Chairman and Chief Executive Officer, First Pennsylvania Bank, 1989

N.A., Philadelphia, Pennsylvania Constantinos I. Costalas Chairman, President, and Chief Executive Officer, Glendale National 1990

Bank of New Jersey, Voorhees, New Jersey Gary E. Burl President, Delaware National Bank, Georgetown, Delaware 1991

Class B Carl E. Singley Charles F. Seymour Nicholas Riso

Partner, White, McClelland and Singley, Philadelphia, Pennsylvania 1989 Chairman, Jackson-Cross Company, Philadelphia, Pennsylvania 1990 Executive Vice President, AHOLD, U.S.A., 1991

Harrisburg, Pennsylvania

Class C

Peter A. Benoliel

Jane G. Pepper

Gunnar E. Sarsten

Chairman of the Board, Quaker Chemical Corporation, 1989 Conshohocken, Pennsylvania

President, The Pennsylvania Horticultural Society, 1990 Philadelphia, Pennsylvania

Chairman, President, and Chief Executive Officer, United Engineers 1991 and Constructors, Inc., Philadelphia, Pennsylvania


Class A

Frank Wobst

William H. May

William T. McConnell

Chairman and Chief Executive Officer, Huntington Bancshares 1989 Incorporated, Columbus, Ohio

Chairman and President, First National Bank of Nelsonville, 1990 Nelsonville, Ohio

President, The Park National Bank, Newark, Ohio 1991

Class B Laban P. Jackson, Jr. Verna K. Gibson Daniel M. Galbreath

Chairman of the Board, Clearcreek Properties, Lexington, Kentucky 1989 President, The Limited Stores, Inc., Columbus, Ohio 1990 President, John W. Galbreath and Company, Columbus, Ohio 1991


May 1989



Class C Dec• 31

Charles W. Parry Director and Retired Chairman and Chief Executive Officer, 1989 Aluminum Company of America, Pittsburgh, Pennsylvania

Robert D. Storey Partner, Burke, Haber and Berick, Cleveland, Ohio 1990 John R. Miller Former President and Chief Operating Officer, The Standard Oil 1991

Company (Ohio), Cleveland, Ohio


Appointed by the Federal Reserve Bank Robert M. Duncan President, First National Bank of Louisa, Louisa, Kentucky 1989 Jack W. Buchanan President, Sphar and Company, Inc., Winchester, Kentucky 1990 Jerry L. Kirby Chairman of the Board, President, and Chief Executive Officer, 1990

Citizens Federal Savings and Loan Association, Dayton, Ohio Allen L. Davis President and Chief Executive Officer, The Provident Bank, 1991

Cincinnati, Ohio Appointed by the Board of Governors

Owen B. Butler Chairman of the Board (Retired), The Procter and Gamble 1989 Company, Cincinnati, Ohio

Marvin Rosenberg Partner, Towne Properties, Ltd., Cincinnati, Ohio 1990 Kate Ireland National Chairman, Frontier Nursing Service, Wendover, Kentucky 1991

-PITTSBURGH BRANCH

Appointed by the Federal Reserve Bank Thomas G. Dove Chairman of the Executive Committee and Chief Executive Officer, 1989

Wheeling Dollar Bank, Wheeling, West Virginia George A. Davidson, Jr. Chairman and Chief Executive Officer, Consolidated Natural Gas 1990

Company, Pittsburgh, Pennsylvania President and Chief Executive Officer, Dollar Bank, F.S.B., 1990

Pittsburgh, Pennsylvania President and Chief Executive Officer, First Commonwealth 1991

Financial Corporation, Indiana, Pennsylvania Appointed by the Board of Governors

Senior Vice President-Finance, and Chief Financial Officer, 1989 H. J. Heinz Company, Pittsburgh, Pennsylvania

President and Chief Executive Officer, Allegheny Housing 1990 Rehabilitation Corporation, Pittsburgh, Pennsylvania

Chairman and Chief Executive Officer, Braishfield Associates, Inc., 1991 New York, New York

Stephen C. Hansen

E. James Trimarchi

Karl M. von der Hey den


James E. Haas


Class A Chester A. Duke

John F. McNair III

C. R. Hill, Jr.

President and Chief Executive Officer, Marion National Bank, 1989 Marion, South Carolina

President and Chief Executive Officer, Wachovia Bank and Trust 1990 Company, N.A. and The Wachovia Corporation, Winston-Salem, North Carolina

Chairman and President, M & M Financial Corporation and 1991 Merchants & Miners National Bank, Oak Hill, West Virginia


May 1989



Class B

Thomas B. Cookerly

Jack C. Smith

Edward H. Covell

President, Broadcast Division, Allbritton Communications, Washington, D.C.

Chairman of the Board and Chief Executive Officer, K-VA-T Food Stores, Inc., Grundy, Virginia

President, The Covell Company, Easton, Maryland

Term expires

Dec. 31

1989

1990

1991

Class C Leroy T. Canoles, Jr. Hanne Merriman

Anne Marie Whittemore

President, Kaufman & Canoles, Norfolk, Virginia 1989 President and Chief Executive Officer, Honeybee, Inc., 1990

New York, New York Partner, McGuire, Woods, Battle, and Boothe, Richmond, Virginia 1991

—BALTIMORE BRANCH

Appointed by the Federal Reserve Bank Charles W. Hoff III


H. Grant Hathaway Joseph W. Mosmiller



Chairman of the Board, Equitable Bank, N.A., Baltimore, Maryland 1991 Chairman of the Board, Loyola Federal Savings and Loan 1991

Association, Baltimore, Maryland

Appointed by the Board of Governors John R. Hardesty, Jr. President, Preston Energy, Inc., Kingwood, West Virginia 1989 Gloria L. Johnson Deputy Director of Administration, The Baltimore Museum of Art, 1990

Baltimore, Maryland Thomas R. Shelton President, Case Foods, Inc., Salisbury, Maryland 1991

—CHARLOTTE BRANCH

Appointed by the Federal Reserve Bank William McKay

James M. Culberson, Jr.

Crandall C. Bowles James G. Lindley

President, First Federal Savings Bank, Hendersonville, 1989 North Carolina

Chairman and President, The First National Bank of Randolph 1990 County, Asheboro, North Carolina

President, The Springs Company, Lancaster, South Carolina 1991 Chairman and Chief Executive Officer, South Carolina National 1991

Corporation, and Chairman, President and Chief Executive Officer, The South Carolina National Bank, Columbia, South Carolina

Appointed by the Board of Governors Anne M. Allen

William E. Masters Harold D. Kingsmore

Vice President, Allen Construction Company, Greensboro, North Carolina

President, Perception, Inc., Easley, South Carolina President and Chief Operating Officer, Graniteville Company,

Graniteville, South Carolina

1989

1990 1991


May 1989



Class A Mary W. Walker

E.B. Robinson, Jr.

Virgil H. Moore, Jr.

Class B

Paul W. Green

Gary J. Chouest

Saundra H. Gray

Term expires

Dec. 31

1989 Vice Chairman, The National Bank of Walton County, Monroe, Georgia

Chairman and Chief Executive Officer, Deposit Guaranty National 1990 Bank and Deposit Guaranty Corporation, Jackson, Mississippi

Chairman and Chief Executive Officer, First Farmers and Merchants 1991 National Bank, Columbia, Tennessee

President and Chief Executive Officer, American Cast Iron Pipe 1989 Company, Birmingham, Alabama

President and Chief Executive Officer, Edison Chouest Offshore, 1990 Inc., Galliano, Louisiana

Co-Owner, Gemini Springs Farm, DeBary, Florida 1991

Class C Bradley Currey, Jr. Edwin A. Huston

Larry L. Prince

President, Rock-Tenn Company, Norcross, Georgia Senior Executive Vice President-Finance, Ryder System, Inc.,

Miami, Florida President and Chief Operating Officer, Genuine Parts Company,

Atlanta, Georgia

-BIRMINGHAM BRANCH

Appointed by the Federal Reserve Bank President and Chief Executive Officer, First National Bank of

Scottsboro, Scottsboro, Alabama Chairman and Chief Executive Officer, Central Bank of the South,

Birmingham, Alabama Chairman, President, and Chief Executive Officer, Frit Industries,

Inc., Ozark, Alabama President, First American Federal Savings and Loan Association,

Huntsville, Alabama

John H. Newman, Jr.

Harry B. Brock, Jr.

Shelton E. Allred

William F. Childress

Appointed by the Board of Governors Nelda P. Stephenson President, Nelda Stephenson Chevrolet, Inc., Florence, Alabama A.G. Trammell President, Alabama Labor Council, AFI^CIO,

Birmingham, Alabama Roy D. Terry President and Chief Executive Officer, Terry Manufacturing

Company, Inc., Roanoke, Alabama


Appointed by the Federal Reserve Bank Chairman and Chief Executive Officer, First Florida Banks, Inc.,

Tampa, Florida Chairman and President, Barnett Bank of Central Florida, N.A.,

Orlando, Florida President and Chief Executive Officer, Suncoast Schools Federal

Credit Union, Tampa, Florida Chairman, President, and Chief Executive Officer, Design

Containers, Inc., Jacksonville, Florida

A. Bronson Thayer

Charles K. Cross, Sr.

Perry M. Dawson

Samuel H. Vickers

1989 1990

1991

1989

1990

1991

1991

1989 1990

1991

1989

1990

1991

1991


May 1989


DISTRICT 6—Continued JACKSONVILLE BRANCH—Continued Appointed by the Board of Governors

Lana Jane Lewis-Brent Vice Chairman, President, and Chief Executive Officer, Sunshine Jr. Stores, Inc., Panama City, Florida

Winnie F. Taylor Professor of Law, University of Florida, Gainesville, Florida Hugh M. Brown President and Chief Executive Officer, BAMSI, Inc., Titusville, Florida

—MIAMI BRANCH

Appointed by the Federal Reserve Bank James H. Robinson Robert M. Taylor

President, Sun Bank/South Florida, N.A., Fort Lauderdale, Florida Chairman and Chief Executive Officer, The Mariner Group, Inc.,

Fort Myers, Florida President and Chief Executive Officer, Community Savings, F.A.,

Riviera Beach, Florida Vice Chairman and Chief Financial Officer, Republic National Bank

of Miami, Miami, Florida Appointed by the Board of Governors

Jose L. Saumat Chairman, Kaufman and Roberts, Inc., Miami, Florida Robert D. Apelgren President, Apelgren Corporation, Pahokee, Florida Dorothy C. Weaver Vice President, Intercap Investments, Inc., Miami, Florida

Frederick A. Teed

Roberto G. Blanco

-NASHVILLE BRANCH

Appointed by the Federal Reserve Bank Chairman, Sovran Financial Corporation/Central South,

Nashville, Tennessee Chairman, First National Bank & Trust Company, and Chairman

and Chief Executive Officer, First Franklin Bancshares, Inc., Athens, Tennessee

Chairman and President, Southeast Services Corporation, Knoxville, Tennessee

Chairman and Chief Executive Officer, Metropolitan Federal Savings and Loan Association, Nashville, Tennessee

Appointed by the Board of Governors Patsy R. Williams Partner, Rhyne Lumber Company, Newport, Tennessee Victoria B. Jackson President and Chief Executive Officer, Diesel Sales and Service,

Inc. and Prodiesel, Inc., Nashville, Tennessee Shirley A. Zeitlin President, Shirley Zeitlin and Co., Realtors, Nashville, Tennessee

James A. Rainey

Lawrence A. Roseberry

William Baxter Lee III

Edwin W. Moats, Jr.


Appointed by the Federal Reserve Bank Robert S. Gaddis President and Chief Executive Officer, Trustmark National Bank,

Laurel, Mississippi Ronald M. Boudreaux President and Chief Executive Officer, First National Bank of St.

Landry Parish, Opelousas, Louisiana A.F. Delchamps, Jr. Chairman, President, and Chief Executive Officer, Delchamps, Inc.,

Mobile, Alabama Stanley S. Scott President, Crescent Distributing Company, Harahan, Louisiana

Term expires

Dec. 31

1989

1990 1991

1989

1990

1990

1991

1989 1990 1991

1989

1990

1991

1991

1989 1990

1991

1989

1990

1991

1991


May 1989



Appointed by the Board of Governors Dec'

James A. Hefner President, Jackson State University, Jackson, Mississippi 1989 Caroline G. Theus President, Ingle wood Land and Development Company, 1990

Alexandria, Louisiana Andre M. Rubenstein Chairman, President, and Chief Executive Officer, Rubenstein 1991

Brothers, Inc., New Orleans, Louisiana


Class A B.F. Backlund

Barry F. Sullivan John W. Gabbert

Class B Paul J. Schierl

Edward D. Powers Max J. Nay lor

Class C

Robert J. Day

Marcus Alexis

Charles S. McNeer

Chairman and Chief Executive Officer, Bartonville Bank, 1989 Bartonville, Illinois

Chairman of the Board, First Chicago Corporation, Chicago, Illinois 1990 President and Chief Executive Officer, First of America 1991

Bank-LaPorte, N.A., LaPorte, Indiana

Chairman of the Board and Chief Executive Officer, Fort Howard 1989 Corporation, Green Bay, Wisconsin

President, Fire Brick Engineers, Milwaukee, Wisconsin 1990 President, Naylor Farms, Inc., Jefferson, Iowa 1991

Chairman and Chief Executive Officer, USG Corporation, 1989 Chicago, Illinois

Dean, College of Business Administration, University of Illinois at 1990 Chicago, Chicago, Illinois

Chairman of the Board and Chief Executive Officer, Wisconsin 1991 Energy Corporation, Milwaukee, Wisconsin

—DETROIT BRANCH

Appointed by the Federal Reserve Bank Ronald D. Story Chairman and President, The Ionia County National Bank of Ionia,

Ionia, Michigan 1989

James A. Aliber Chairman of the Board and Chief Executive Officer, First Federal of Michigan, Detroit, Michigan

1990

Frederik G.H. Meijer Chairman of the Board, Meijer, Incorporated, Grand Rapids, Michigan

1990

Robert J. Mylod Chairman, President, and Chief Executive Officer, Michigan National Corporation, Farmington Hills, Michigan

1991

Appointed by the Board of Governors Richard T. Lindgren Birmingham, Michigan 1989 Beverly Beltaire President, P R Associates, Inc., Detroit, Michigan 1990 Phyllis E. Peters Director, Professional Standards Review, Touche Ross and 1991

Company, Detroit, Michigan


May 1989


DISTRICT 8—ST. LOUIS Term expires

Class A Dec• 31

David W. Kemper II Chairman and Chief Executive Officer, Commerce Bank of St. Louis, 1989 N.A., Clayton, Missouri, and President and Chief Executive Officer, Commerce Bancshares, Inc., Kansas City, Missouri

H.L. Hembree III Chairman of the Executive Committee, Merchants National Bank, 1990 Fort Smith, Arkansas

Henry G. River President and Chief Executive Officer, First National Bank of 1991 Pinckneyville, Pinckneyville, Illinois

Class B Frank M. Mitchener, Jr. President, Mitchener Farms, Inc., Sumner, Mississippi 1989 Roger W. Schipke Senior Vice President, GE Appliances, General Electric Company, 1990

Louisville, Kentucky Thomas F. McLarty III Chairman and Chief Executive Officer, Arkla, Inc., Little Rock, Arkansas 1991

Class C H. Edwin Trusheim Chairman and Chief Executive Officer, General American Life 1989

Insurance Company, St. Louis, Missouri Janet McAfee Weakley President, Janet McAfee, Inc., Clayton, Missouri 1990 Robert L. Virgil, Jr. Dean, John M. Olin School of Business, Washington University in 1991

St. Louis, St. Louis, Missouri


Appointed by the Federal Reserve Bank Patricia M. Townsend President, Townsend Company, Stuttgart, Arkansas 1989 David Armbruster President, First America Federal Savings Bank, Fort Smith, Arkansas 1990 W. Wayne Hartsfield President and Chief Executive Officer, First National Bank, 1990

Searcy, Arkansas Barnett Grace President and Chief Executive Officer, First Commercial Bank, 1991

N.A., Little Rock, Arkansas Appointed by the Board of Governors

L. Dickson Flake President, Barnes, Quinn, Flake & Anderson, Inc., 1989 Little Rock, Arkansas

William E. Love President, Sound-Craft Systems, Inc., Morrilton, Arkansas 1990 James R. Rodgers Airport Manager, Little Rock Regional Airport, Little Rock, Arkansas 1991


Appointed by the Federal Reserve Bank Morton Boyd President, First Kentucky National Corporation, Louisville, Kentucky 1989 Irving W. Bailey II Chairman, President, and Chief Executive Officer, Capital Holding 1990

Corporation, Louisville, Kentucky Wayne G. Overall, Jr. President, First Federal Savings Bank, Elizabethtown, Kentucky 1990 Douglas M. Lester Chairman, President, and Chief Executive Officer, Trans Financial 1991

Bancorp, Inc., Bowling Green, Kentucky Appointed by the Board of Governors

Thomas A. Alvey Delegate, Owensboro Council of Labor, Owensboro, Kentucky 1989 Raymond M. Burse President, Kentucky State University, Frankfort, Kentucky 1990 Lois H. Gray Chairman of the Board, James N. Gray Construction Company, 1991

Inc., Glasgow, Kentucky


May 1989



—MEMPHIS BRANCH Dec- 31

Appointed by the Federal Reserve Bank Michael J. Hennessey President, Munro and Company, Inc., Wynne, Arkansas 1989 Thomas M. Garrott President and Chief Operating Officer, National Bank of Commerce 1990

and National Commerce Bancorporation, Memphis, Tennessee Larry A. Watson Chairman of the Board and President, Liberty Federal Savings 1990

Bank, Paris, Tennessee Ray U. Tanner Chairman and Chief Executive Officer, Jackson National Bank and 1991

Volunteer Bancshares, Inc., Jackson, Tennessee

Appointed by the Board of Governors Sandra B. Sanderson President and Chief Executive Officer, Sanderson Plumbing 1989

Products, Inc., Columbus, Mississippi Seymour B. Johnson Owner, Kay Planting Company, Indianola, Mississippi 1990 Katherine Hinds Smythe President, Memorial Park, Inc., Memphis, Tennessee 1991


Class A Charles W. Ekstrum

Joel S. Harris James H. Hearon III

Class B Bruce C. Adams Earl R. St. John, Jr.

Duane E. Dingmann

President and Chief Executive Officer, First National Bank, 1989 Philip, South Dakota

President, Yellowstone Holding Company, Columbus, Montana 1990 Chairman of the Board and Chief Executive Officer, National City 1991

Bank, Minneapolis, Minnesota

Partner, Triple Adams Farms, Lansford, North Dakota 1989 President and Owner, St. John Forest Products, Inc., 1990

Spalding, Michigan President, Trubilt Auto Body, Inc., Eau Claire, Wisconsin 1991

Class C

Michael W. Wright

Delbert W. Johnson

John A. Rollwagen

Chairman, President, and Chief Executive Officer, Super Valu 1989 Stores, Inc., Minneapolis, Minnesota

President and Chief Executive Officer, Pioneer/Norelkote, 1990 Minneapolis, Minnesota

Chairman and Chief Executive Officer, Cray Research Inc., 1991 Minneapolis, Minnesota

—HELENA BRANCH

Appointed by the Federal Reserve Bank F. Charles Mercord President and Managing Officer, First Federal Savings Bank of 1989

Montana, Kalispell, Montana Noble E. Vosburg President and Chief Executive Officer, Pacific Hide and Fur 1990

Corporation, Great Falls, Montana Robert H. Waller President and Chief Executive Officer, First Interstate Bank of 1990

Billings, N.A., Billings, Montana


May 1989



HELENA BRANCH—Continued Dec-31

Appointed by the Board of Governors Warren H. Ross President, Ross 8-7 Ranch, Inc., Chinook, Montana 1989 John F. Gardner President, Montana Resources, Inc., Butte, Montana 1990


Class A

Harold L. Gerhart, Jr.

Roger L. Reisher

Robert L. Hollis

Class B Richard D. Harrison

S. Dean Evans, Sr. Frank J. Yaklich, Jr.

President and Chief Executive Officer, First National Bank, 1989 Newman Grove, Nebraska

Co-Chairman, FirstBank Holding Company of Colorado, 1990 Lake wood, Colorado

Chairman of the Board and Chief Executive Officer, First National 1991 Bank and Trust Co., Okmulgee, Oklahoma

Chairman and Chief Executive Officer, Fleming Companies, Inc., 1989 Oklahoma City, Oklahoma

Partner, Evans Grain Company, Salina, Kansas 1990 President, CF & I Steel Corporation, Pueblo, Colorado 1991

Class C

Fred W. Lyons, Jr.

Thomas E. Rodriguez

Burton A. Dole, Jr.

President and Chief Executive Officer, Marion Laboratories, Inc., 1989 Kansas City, Missouri

President and General Manager, Thomas E. Rodriguez & 1990 Associates, P.C., Aurora, Colorado

Chairman and President, Puritan-Bennett Corporation, 1991 Overland Park, Kansas

—DENVER BRANCH

Appointed by the Federal Reserve Bank Henry A. True III Junius F. Baxter

Norman R. Corzine

W. Richard Scarlett III

Partner, True Companies, Casper, Wyoming 1989 Chairman of the Board and Chief Executive Officer, Bank Western, 1990

a Federal Savings Bank, Denver, Colorado President and Chief Executive Officer, First National Bank in 1991

Albuquerque and First National Financial Corporation, Albuquerque, New Mexico

Chairman and Chief Executive Officer, Jackson State Bank, 1991 Jackson Hole, Wyoming

Appointed by the Board of Governors James C. Wilson Management Consultant, Longmont, Colorado 1989 Gilbert Sanchez President, New Mexico Highlands University, 1990

Las Vegas, New Mexico Barbara B. Grogan President, Western Industrial Contractors, Inc., Denver, Colorado 1991


May 1989



—OKLAHOMA CITY BRANCH expires

Dec. 31

Appointed by the Federal Reserve Bank William H. Crawford Chairman and Chief Executive Officer, First National Bank and 1989

Trust Company, Frederick, Oklahoma W. Dean Hidy Chairman of the Board, Triad Bank, N.A., Tulsa, Oklahoma 1990 John Wm. Laisle President, MidFirst Savings and Loan Association, 1990


Appointed by the Board of Governors Patience S. Latting Oklahoma City, Oklahoma 1989 John F. Snodgrass President and Trustee, The Samuel Roberts Noble Foundation, Inc., 1990

Ardmore, Oklahoma

—OMAHA BRANCH

Appointed by the Federal Reserve Bank John T. Selzer President, Scottsbluff National Bank and Trust Company, 1989

Scottsbluff, Nebraska Charles H. Thorne Chairman of the Board, First Federal Savings and Loan Association 1989

of Lincoln, Lincoln, Nebraska John R. Cochran President and Chief Executive Officer, Norwest Bank Nebraska, 1990

N.A., Omaha, Nebraska

Appointed by the Board of Governors Kenneth L. Morrison President, Morrison Enterprises, Hastings, Nebraska 1989 Herman Cain President and Chief Executive Officer, Godfather's Pizza, Inc., 1990

Omaha, Nebraska


Class A Robert G. Greer T. C. Frost

Charles T. Doyle

Class B Gary E. Wood Robert L. Pfluger Charles Dickie

Williamson

Class C

Leo E. Linbeck, Jr.

Bobby R. Inman

Hugh G. Robinson

Chairman of the Board, Tanglewood Bank, N.A., Houston, Texas 1989 Chairman of the Board, The Frost National Bank, 1990

San Antonio, Texas Chairman and Chief Executive Officer, Gulf National Bank, 1991

Texas City, Texas

President, Texas Research League, Austin, Texas 1989 Rancher, San Angelo, Texas 1990 Chairman of the Board and Chief Executive Officer, 1991

Williamson-Dickie Manufacturing Company, Fort Worth, Texas

Chairman and Chief Executive Officer, Linbeck Construction 1989 Corporation, Houston, Texas

Chairman of the Board and Chief Executive Officer, 1990 Westmark Systems Inc., Austin, Texas

President, Cityplace Development Corporation, Dallas, Texas 1991


May 1989


DISTRICT 11—Continued Term —EL PASO BRANCH oTc.Tl

Appointed by the Federal Reserve Bank David L. Stone President, The Portales National Bank, Portales, New Mexico 1989 Henry B. Ellis President and Chief Credit Officer, MBank El Paso, N.A., 1990

El Paso, Texas Ethel Ortega Olson Owner, NAMBE of Ruidoso, Ruidoso, New Mexico 1990 Humberto F. Sambrano President, SamCorp General Contractors, El Paso, Texas 1991

Appointed by the Board of Governors W. Thomas Beard III President, Leoncita Cattle Company, Alpine, Texas 1989 Diana S. Natalicio President, The University of Texas at El Paso, El Paso, Texas 1990 Donald G. Stevens Owner, Stevens Oil Company, Roswell, New Mexico 1991

—HOUSTON BRANCH Appointed by the Federal Reserve Bank

Jenard M. Gross President, Gross Builders, Inc., Houston, Texas 1989 Clive Runnells President and Director, Runnells Cattle Company, Bay City, Texas 1990 David E. Sheffield Vice Chairman, Texas National Bank of Victoria, Victoria, Texas 1990 Jeff Austin, Jr. President, First National Bank of Jacksonville, Jacksonville, Texas 1991

Appointed by the Board of Governors Walter M. Mischer, Jr. President and Chief Operating Officer, The Mischer Corporation, 1989

Houston, Texas Andrew L. Jefferson, Jr. Attorney, Jefferson and Mims, Houston, Texas 1990 Gilbert D. Gaedcke, Jr. Chairman of the Board and Chief Executive Officer, Gaedcke 1991

Equipment Company, Houston, Texas

—SAN ANTONIO BRANCH Appointed by the Federal Reserve Bank

C. Ivan Wilson Chairman of the Board and Chief Executive Officer, First City Bank 1989 of Corpus Christi, Corpus Christi, Texas

Javier Garza Executive Vice President, The Laredo National Bank, Laredo, Texas 1990 Sam R. Sparks President, Sam R. Sparks, Inc., Progreso, Texas 1990 Jane Flato Smith Investor and Rancher, San Antonio, Texas 1991

Appointed by the Board of Governors Lawrence E. Jenkins Vice President (Retired), Austin Division, Lockheed Missiles and 1989

Space Co., Inc., Austin, Texas Vacancy 1990 Roger R. Hemminghaus Chairman and Chief Executive Officer, Diamond Shamrock 1991

R&M, Inc., San Antonio, Texas


Class A Rayburn S. Dezember Chairman of the Board and Chief Executive Officer, Central Pacific 1989

Corporation, and Chairman, American National Bank, Bakersfield, California

R. Blair Hawkes President and Chief Executive Officer, Ireland Bank, Malad City, Idaho 1990 William E.B. Siart Chairman of the Board, President, and Chief Executive Officer, 1991

First Interstate Bank of California, Los Angeles, California


May 1989



Class B

John C. Hampton

John N. Nordstrom William L. Tooley

Class C

Robert F. Erburu

Cordell W. Hull

Carolyn S. Chambers

Term expires

Dec. 31

1989 President and Chief Executive Officer, Willamina Lumber Company, Portland, Oregon

Co-Chairman of the Board, Nordstrom, Inc., Seattle, Washington 1990 Chairman, Tooley & Company, Investment Builders, 1991

Los Angeles, California

Chairman of the Board and Chief Executive Officer, The Times 1989 Mirror Company, Los Angeles, California

Executive Vice President and Director, Bechtel Group, Inc., 1990 San Francisco, California

President and Chief Executive Officer, Chambers Communications 1991 Corp., Eugene, Oregon

-LOS ANGELES BRANCH

Appointed by the Federal Reserve Bank Fred D. Jensen

Ross M. Blakely

Ignacio E. Lozano, Jr. Howard C. McCrady

Chairman of the Board, President, and Chief Executive Officer, 1989 National Bank of Long Beach, Long Beach, California

Chairman of the Executive Committee of the Board, Coast Savings 1990 and Loan, Los Angeles, California

Editor-in-Chief, La Opinion, Los Angeles, California 1991 Vice Chairman, Valley National Corporation, Phoenix, Arizona 1991

Appointed by the Board of Governors Yvonne Brathwaite Burke Partner, Jones, Day, Reavis and Pogue, Los Angeles, California 1989 Richard C. Seaver Chairman, Hydril Company, Los Angeles, California 1990 Harry W. Todd Chairman and Chief Executive Officer, Rohr Industries, Inc., 1991

Chula Vista, California

-PORTLAND BRANCH

Appointed by the Federal Reserve Bank Wayne E. Phillips, Jr. Stephen G. Kimball

G. Dale Weight

Stuart H. Compton

Vice President, Phillips Ranch, Inc., Baker, Oregon President and Chief Executive Officer, Baker Boyer Bancorp,

Walla Walla, Washington Chairman of the Board and Chief Executive Officer, Benjamin

Franklin Savings and Loan Association, Portland, Oregon Chairman and Chief Executive Officer, Pioneer Trust Bank, N. A.

Salem, Oregon

Appointed by the Board of Governors Paul E. Bragdon Assistant to the Governor for Education, Office of the Governor,

Salem, Oregon Sandra A. Suran Small Business Advocate, State of Oregon, Salem, Oregon William A. Hilliard Editor, The Oregonian, Portland, Oregon

1989

1990

1990

1991

1989

1990 1991


May 1989



Dec. 31 —SALT LAKE CITY BRANCH

Appointed by the Federal Reserve Bank Ronald S. Hanson President, Zions First National Bank, Salt Lake City, Utah 1989 Curtis H. Eaton President and Vice Chairman of the Board, Twin Falls Bank and 1990

Trust Company, Twin Falls, Idaho Virginia P. Kelson Associate, Ralston and Associates, Salt Lake City, Utah 1990 Gerald R. Christensen President and Chairman, First Federal Savings and Loan 1991

Association, Salt Lake City, Utah

Appointed by the Board of Governors Robert N. Pratt President and Chief Operating Officer, Bonneville Pacific 1989

Corporation, Salt Lake City, Utah Don M. Wheeler President, Wheeler Machinery Company, Salt Lake City, Utah 1990 D.N. Rose President and Chief Executive Officer, Mountain Fuel Supply 1991

Company, Salt Lake City, Utah

—SEATTLE BRANCH

Appointed by the Federal Reserve Bank H.H. Larison President, Columbia Paint and Coatings, Spokane, Washington 1989 B.R. Beeksma Chairman of the Board, InterWest Savings Bank, 1990

Oak Harbor, Washington William S. Randall Chairman, President, and Chief Executive Officer, First Interstate 1990

Bank of Washington, N.A., Seattle, Washington Robert P. Gray President, National Bank of Alaska, Anchorage, Alaska 1991

Appointed by the Board of Governors Carol A. Nygren Partner, Laventhol and Horwath, Seattle, Washington 1989 Irma Goertzen Hospital Administrator, University Hospital, University of 1990

Washington, Seattle, Washington Bruce R. Kennedy Chairman and Chief Executive Officer, Alaska Air Group, Inc., 1991

Seattle, Washington


May 1989

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Directors of Federal Reserve Banks and Branches

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