For release: Feb. 2, 2001
Contact: Charles Henderson, (314) 444-8311

Louisville Branch of St. Louis Fed Announces 2001 Board Changes

ST. LOUIS -- The Louisville Branch of the Federal Reserve Bank of St. Louis announced the following changes to its board of directors for 2001:

Norman E. Pfau, Jr., president and chief executive officer of Geo. Pfau's Sons Company, Inc., a manufacturer of fats and oils in Jeffersonville, Ind., has been appointed to a three-year term on the Louisville Branch board of directors by the Board of Governors of the Federal Reserve System in Washington, D.C. Pfau also is a member of the boards of directors of the Indiana Manufacturers Association, INAAP Reuse Authority, Indiana University Foundation, and a trustee and past chairman of the Southern Indiana Economic Development Council.

Marjorie Soyugenc, executive director and chief executive officer of the Welborn Foundation in Evansville, Ind., has been appointed to fill the unexpired portion of a three-year term on the Louisville Branch board of directors, ending on Dec. 31, 2002, by the board of directors of the Federal Reserve Bank of St. Louis. Soyugenc also is a trustee of the University of Evansville, a member of the boards of directors of Old National Bancorp, Vision 2000, Indiana Grantmakers Alliance, and a member of the American College of Healthcare Executives.

Frank J. Nichols, chairman, president and chief executive officer of the Bank of Benton in Benton, Ky., has been reappointed to a three-year term on the Louisville Branch board of directors by the board of directors of the Federal Reserve Bank of St. Louis. Nichols also is a member of the American Bankers Association, the Kentucky Bankers Association, the Independent Community Bankers Association of America, the board of regents of the Mid South School of Banking, and a member of the Benton Community Development Industrial Board.

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. In addition to serving as a bank for depository institutions and the U.S. government, each Reserve Bank monitors economic conditions in the District, participates in formulating monetary policy, and supervises state-chartered member banks and bank holding companies to foster safety and soundness of the District's banking and financial institutions and to protect the credit rights of consumers.

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