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Philadelphia Fed Appoints Pocono Bank CEO to Its Board

For release: December 7, 2005
Contact: Kathy Dibling, 215-574-4119

PHILADELPHIA, Pa. – The Federal Reserve Bank of Philadelphia has appointed John Gerlach, president and CEO of Pocono Community Bank, Stroudsburg, Pa., to its board of directors for a three-year term beginning in January 2006. Each of the 12 Reserve Banks has a nine-member board of directors, which oversees Bank operations. The directors provide information about economic conditions in their industries to monetary policymakers.

Gerlach had served as a senior lending officer at two regional banks in northeastern Pennsylvania and also as president of a commercial bank in the Lehigh Valley. He had been a member of the Philadelphia Fed’s Community Bank Council from 2000-2002.

Gerlach serves on the boards of Pocono Mountain Industries Inc. and United Way of Monroe County, where he is on the finance committee. He has a bachelor’s degree form Indiana University in Bloomington, In., and an MBA from DePaul University.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. The Philadelphia Fed serves the Third District, which is eastern Pennsylvania, southern New Jersey, and Delaware.

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