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Philadelphia Fed Appoints Two New Directors

For release: December 17, 2001
Contact: Kathy Woodbury, 215-574-4119

PHILADELPHIA, Pa. - The Federal Reserve Bank of Philadelphia has announced that Walter E. Daller, president and CEO of Harleysville National Corp., and P. Coleman Townsend Jr., CEO and chairman of Townsend Inc., a poultry, agri-products company in Wilmington, Del., have been appointed to its board of directors effective January 2002. Each of the 12 Reserve Banks has a nine-member board of directors, which oversees Bank operations.

Daller, who has worked for Harleysville since 1962, is also chairman of Harleysville National Bank and Trust Co. He serves on the boards of Harleysville National Corp.'s other subsidiaries, Citizens National Bank of Lansford and Security National Bank of Pottstown.

He also serves on the board of directors of the Independent Community Bankers of America and of the TCM Bank, located in Tampa, Fla. Daller's community service includes serving on the boards of North Penn United Way, the Lower Salford Historical Society, the Muhlenberg House, the Montgomery County Lands Trust, and the Perkiomen Valley Watershed.

Daller holds a bachelor's degree in business administration from Lafayette College in Easton, Pa.

Townsend serves on the board of trustees of the University of Delaware and is a member of the boards of Winterthur Museum, Gardens, and Library; the Henlopen Fund; and the Historical Society of Delaware. In addition, he is a member of the Council of Advisors for the Delaware Center for Horticulture. He actively participates in the following organizations: Delaware Art Museum - Collections Committee, Delaware Public Policy Institute, and Delaware Business Roundtable.

Townsend holds a bachelor's degree in agricultural science from the University of Delaware.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware by supplying cash to these banks and thrifts, supervising them, collecting and processing about 5 million checks daily, wiring money and securities nationwide, as well as participating in the broader objective of setting monetary policy.

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