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Townsends CEO Reappointed to Philadelphia Fed Board

For release: December 8, 2004 at noon
Contact: Kathy Dibling, 215-574-4119

PHILADELPHIA, Pa. - The Federal Reserve Bank of Philadelphia has reappointed P. Coleman Townsend Jr., chairman and CEO of Townsends Inc., a poultry, agri-products company in Wilmington, Del., to its board of directors effective January 2005 for another three-year-term. Each of the 12 Reserve Banks has a nine-member board of directors, which oversees Bank operations.

Townsend serves on the boards of trustees of the University of Delaware and of the Winterthur Museum, where he also serves on the collections committee. He is a member of the Council of Advisors for the Delaware Center for Horticulture, and the Historical Society of Delaware’s Read House and Gardens Committee, and the Collections & Exhibits Committee. He also is a member of the Brooks School Advisory Committee for the Lehman Art Center, the advisory committee for Liberty Mutual, and the board of overseers for the Delaware College of Art and Design.

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. The Bank supplies cash to the banks and thrifts, supervises them, collects and processes about 5 million checks daily, wires money and securities nationwide, and participates in the broader objective of setting monetary policy.

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