For release: Feb. 6, 2001
Contact: Charles Henderson, (314) 444-8311

Gwatney Appointed, Neelly Reappointed to St. Louis Fed's Memphis Branch Board; Johnson Re-elected to St. Louis Fed Board of Directors

ST. LOUIS -- Russell Gwatney, president of Gwatney Companies, has been appointed to a three-year term on the Memphis Branch board of directors by the Board of Governors of the Federal Reserve System in Washington, D.C. Gwatney also is chairman of the Tennessee Motor Vehicle Commission, director of the Greater Memphis Automobile Dealers Association, a member of the executive committee of the Governor's Alliance for Regional Excellence, and is the immediate past chairman of the Memphis Chamber of Commerce. Gwatney was recognized by the Tennessee Industrial Development Council as the "2000 Volunteer of the Year."

Robert L. Johnson, chairman and chief executive officer of Johnson Bryce, Inc., a Memphis-based manufacturer of flexible packaging, was re-elected to a three-year term on the board of directors of the Federal Reserve Bank of St. Louis by the Fed member banks in the Eighth District. Johnson also is a member of the Memphis Chamber of Commerce and the board of directors of LeMoyne-Owen College.

E.C. Neelly, III, management consultant to First American National Bank in Iuka, Miss., has been re-appointed to a three-year term on the Memphis Branch board of directors by the board of directors of the Federal Reserve Bank of St. Louis. A native of Greenwood, Miss., Neelly also is a director of the Iuka Rotary Club and the director for the state of Mississippi for the Independent Bankers Association of America.

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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