As provided by Section 4 of the Federal Reserve Act, as amended, an election will be held to choose successors to serve for three-year terms, for the following two directors of this Bank, whose terms will expire on December 31, 2022: Class A director, Douglas L. Kennedy, President and Chief Executive Officer, Peapack-Gladstone Bank, Bedminster, N.J.; and Class B director, Adena T. Friedman, President and Chief Executive Officer, Nasdaq, Inc., New York, N.Y. Both directors were elected by member banks in Group 2, and their successors will be chosen by this Group. Member banks in Groups 1 and 3 will not participate in this election.