PHILADELPHIA - The Federal Reserve Bank of Philadelphia has chosen Walter E. Daller Jr., president and chief executive of $842 million-asset Harleysville National Corp. in Pennsylvania, to serve on the Federal Advisory Council of the board of governors.
The advisory council consists of one banker from each of the 12 Federal Reserve districts and meets quarterly to advise the board of governors on banking, business, and economic issues. Members serve three-year terms.
Although community bankers have served on the council, particularly from the Midwest, this is the first time that the Philadelphia Fed has selected a community banker to represent its district, which includes Pennsylvania, New Jersey, and Delaware.
"Traditionally, big banks have been at the forefront of these issues," said Philadelphia Fed spokeswoman Rossana Mancini. "Now the industry is changing and community banking is a big part of third district banking. They thought he would add a lot, and it's a good idea to have this perspective on the council."
In 1988, Mr. Daller was president of the Community Bankers of Pennsylvania.