December 23, 2005

Salt Lake City Fed Branch Names New Chairman For 2006

Salt Lake City, December 23, 2005—The Salt Lake City Branch, Federal Reserve Bank of San Francisco announced that William C. (Bill) Glynn, President, Intermountain Industries, Inc., Boise, Idaho and a current Member of the Branch's Board of Directors, has been appointed as Chairman for 2006. He will replace H. Roger Boyer, Chairman of the Board of The Boyer Company, Salt Lake City, Utah, who is retiring from the Board.

The Branch also announced that the Board of Governors of the Federal Reserve System has appointed Clark D. Ivory, Chief Executive Officer, Ivory Homes, Salt Lake City, Utah as a Director of the Salt Lake City Branch effective January 1, 2006.

Other members of the Fed's Salt Lake City Branch Board of Directors are: A. Scott Anderson, President and Chief Executive Officer, Zions First National Bank, Salt Lake City, Utah; Gary L. Crocker, Chairman of the Board, Merrimack Pharmaceuticals, Salt Lake City, Utah; Annette K. Herman, Vice President, Strategic Initiatives, Uniprise Group, UnitedHealthcare, Salt Lake City, Utah; Michael M. Mooney, President and Chief Operating Officer, Farmers and Merchants State Bank, Boise, Idaho; and Deborah Bayle Nielsen, President and Chief Executive Officer, United Way of Salt Lake, Salt Lake City, Utah.

William C. (Bill) Glynn is President and a Director of Intermountain Industries, Inc., Boise, Idaho and its subsidiaries, including Intermountain Gas Company, III Exploration Company, Petroglyph Energy, Inc. and InterWest Capital, Inc. Prior to that, he was with MDU Resources Group, Inc. in Bismarck, North Dakota.

He earned a Bachelor's Degree from the Loras College in 1968, received a Master's of Business Administration Degree from Boise State University in 1979 and graduated from Stanford University's Executive Program in 1985.

Mr. Glynn has served or currently serves on numerous corporate and non-profit boards including: the American Gas Association, the Pacific Coast Gas Association, the Associated Taxpayers of Idaho, the Boise Area Chamber of Commerce, the Idaho Association of Commerce and Industry, Bishop Kelly and the Boise State University Foundations.

Bill was named "Top Manager of the Year" by the Sales and Marketing Executives of Boise in February 1997 and in April 1999 was named Idaho Business Leader of the Year by Idaho State University's business fraternity, Alpha Kappa Psi. He is a recipient of the Community Service Award from the Boise Metro Chamber of Commerce in 2001 and Boise State University's Distinguished Alumni Award in 2004.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.

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