Todd Mason elected to board of the Federal Reserve Bank of Cleveland

Todd A. Mason, president and chief executive officer, First National Bank, Pandora, was
elected to the board of directors of the Federal Reserve Bank of Cleveland, effective Jan.
1.

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along
with the Board of Governors in Washington, D.C., comprise the Federal Reserve System.
As the nation’s central bank, the Federal Reserve System formulates U.S. monetary
policy, supervises banks and bank holding companies, and provides payment services to
financial institutions and to the U.S. government. Payment services include check clearing,
electronic payments, and the distribution of currency and coin.

Each Reserve Bank’s main office has a nine-member board of directors. Three directors
are elected by and representative of the stockholding banks in each Federal Reserve
District. The other six directors represent the general public, which includes business,
agriculture, labor and consumers.

Of these, three are elected by member banks and three are appointed by the Federal
Reserve’s Board of Governors in Washington, D.C.