For release: Feb. 17, 2004

Contact:	Charles Henderson
	Office:	(314) 444-8311
	E-mail:	charles.b.henderson@stls.frb.org
	Mobile:	(314) 609-5972
	Pager:	(314) 538-9526
Online Press Room:		www.stlouisfed.org/news/press_room/contact.html

Gwatney Reappointed, Rumbarger Appointed to St. Louis Fed's Memphis Branch Board

St. Louis — Russell Gwatney, president of Gwatney Companies in Memphis, has been reappointed by the Board of Governors of the Federal Reserve System to the board of directors of the Memphis Branch of the Federal Reserve Bank of St. Louis. Gwatney is also a member of the boards of directors of the Memphis Regional Chamber of Commerce, the Tennessee Automobile Association Self-Insurance Trust and the Greater Memphis Automobile Dealers Association.

David P. Rumbarger, Jr., president and CEO of the Community Development Foundation in Tupelo, Miss., has been appointed by the St. Louis Fed's board of directors to the Reserve Bank's Memphis Branch. Rumbarger is also a member of the boards of directors of the CREATE Community Foundation, the Mississippi Economic Development Council and the Tupelo Symphony.

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. The St. Louis Fed 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, regulates state-chartered member banks and bank holding companies, and provides payment services to financial institutions and the U.S. government.

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