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Press Information Federal Reserve Bank of St. Louis St. Louis, Missouri 63166 FOR R E L E A S E T h u r s d a y , D e c e m b e r 30, 1971 M r . F r e d e r i c M. P e i r c e o f St. L o u is , M i s s o u r i , has b e e n r e a p p o in t e d by the B o a r d o f G o v e r n o r s o f the F e d e r a l R e s e r v e S y s t e m as a D i r e c t o r o f the F e d e r a l R e s e r v e Bank o f St. L o u is fo r the t h r e e - y e a r t e r m beg in n in g J a n u a r y 1, 1972, and r e d e s i g n a t e d as C h a ir m a n o f the B o a r d o f D i r e c t o r s and F e d e r a l R e s e r v e A gent at the bank f o r the y e a r 1972. He h as s e r v e d in t h e s e c a p a c i t i e s s in c e M a y 1 1, 1966. M r . P e i r c e is C h a ir m a n and C h ie f E x e c u t iv e O f f i c e r o f the G e n e r a l A m e r i c a n L ife I n s u r a n c e C o m p a n y , St. L o u is , M i s s o u r i . M r . S am C o o p e r , P r e s i d e n t , H u m K o P r o d u c t s , D i v i s i o n o f K r a f t c o C o r p o r a t i o n , M e m p h is , T e n n e s s e e , h as b e e n r e a p p o in t e d by the B o a r d o f G o v e r n o r s as D eputy C h a ir m a n o f the B o a r d o f D i r e c t o r s o f the bank f o r the y e a r 1972. He h as s e r v e d in this c a p a c i t y s in c e J a n u a ry 1971 and as a D i r e c t o r o f the bank s in c e Jan u a ry 1969. M r . C o o p e r a ls o s e r v e d as a D i r e c t o r o f the M e m p h is B r a n c h o f the F e d e r a l R e s e r v e Bank o f St. L o u is f r o m J a n u a r y 1964 th rou g h D e c e m b e r 1968 and as C h a ir m a n o f the M e m p h is B o a r d 1965 and 1968. The fo llo w in g a p p oin tm en ts to the B o a r d s o f D i r e c t o r s o f the B r a n c h e s o f the F e d e r a l R e s e r v e Bank o f St. L o u is h a v e b e e n m a d e b y the B o a r d o f G overnor s : M r . A1 P o l l a r d , P r e s i d e n t , A1 P o l l a r d & A s s o c i a t e s , L it t le R o c k , A r k a n s a s , r e a p p o in t e d as a m e m b e r o f the L ittle R o c k B r a n c h B o a r d f o r a t h r e e - y e a r t e r m beg in n in g J a n u a ry 1, 1972. M r . C. W hitney B r o w n , P r e s i d e n t , S. C. T o o f & C o m p a n y , M e m p h is , T e n n e s s e e , r e a p p o in t e d as a m e m b e r o f the M e m p h is B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b eg in n in g J a n u a ry 1, 1972. m ore - 2 - The f o llo w in g w e r e ap p oin ted b y the B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank o f St. L o u i s : M r . W. H. K e lle y , P r e s i d e n t and C h ie f E x e c u t iv e O f f i c e r , The State F i r s t N ational Bank o f T e x a r k a n a , T e x a r k a n a , A r k a n s a s , ap p oin ted as a m e m b e r o f the L ittle R o c k B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b e g in n in g J a n u a r y 1, 1972. M r . Hugh M . Shwab, C h a ir m a n o f the B o a r d s , F i r s t N ational Bank o f L o u i s v i l l e and The K en tu ck y T r u s t C o m p a n y , L o u i s v i l l e , K en tu cky, r e a p p o in t e d as a m e m b e r o f the L ou isv ille B ran ch B oard fo r a th r e e -y e a r te r m b e g in n in g Jan u a ry 1, 1972. M r . W ade C. B a rto n , P r e s i d e n t , F i r s t C it iz e n s N a tion a l Bank, T u p e lo , M i s s i s s i p p i , ap p oin ted a s a m e m b e r o f the M e m p h is B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b eg in n in g J a n u a r y 1, 1972. The B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank c o n s i s t s o f nine m e m b e r s , s ix o f w h o m a r e c h o s e n b y the m e m b e r ban ks and t h r e e b y the B o a r d o f G o v e r n o r s in W ashington. E a ch B r a n c h h as s e v e n D i r e c t o r s , fo u r o f w h o m a r e ap p oin ted b y the B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank and t h r e e b y the B o a r d o f G o v e r n o r s . end - F e d e r a l R e s e r v e B a n k o f S t. Lo u i s P. 0 . B O X 4 4 2 S t . L o u is , Mis s o u r i 6 3 1 6 6 December 30, 1971 TO A LL BANKS IN THE EIGHTH FEDERAL RESERVE DISTRICT: The Board of Governors of the Federal Reserve System has announced the following appointments and designations at this Bank and its Branches: Federal Reserve Bank of St. Louis MR. FREDERIC M. PEIRCE Chairman and Chief Executive Officer General American Life Insurance Company St. Louis, Missouri Reappointed a Class C director of the bank for a three-year term beginning January 1,1972, and redesignated ChairĀ man of the Board and Federal Reserve Agent at the bank for the year 1972. MR. SAM COOPER President HumKo Products Division of Kraftco Corporation Memphis, Tennessee Reappointed Deputy Chairman of the Board for the year 1972. L ittle Rock Branch MR. AL POLLARD President Al Pollard & Associates L ittle Rock, Arkansas Reappointed a director for a three-year term beginning January 1, 1972. Memphis Branch MR. C. WHITNEY BROWN President S. C. Toof & Company Memphis, Tennessee Reappointed a director for a three-year term beginning January 1, 1972. The Board of Directors of the Federal appointments: Reserve Bank of St. Louis has made the following L ittle Rock Branch MR. W. H. KELLEY President and Chief Executive Officer The State First National Bank of Texarkana Texarkana, Arkansas Appointed a director for a three-year term beginning January 1, 1972. Louisville Branch MR. HUGH M. SHWAB Chairman of the Boards First National Bank of Louisville and The Kentucky Trust Company Louisville, Kentucky Reappointed a director for a three-year term beginning January 1, 1972. Memphis Branch MR. WADE C. BARTON President First Citizens National Bank Tupelo, Mississippi Appointed a director for a three-year term beginning January 1, 1972. Yours very truly Darryl R. Francis President