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For immediate release: Jan. 6, 2009

Mauldin and Stanton Appointed to the Federal Reserve Bank of Atlanta's Birmingham Branch Board of Directors

Macke B. Mauldin, president of Bank Independent, in Sheffield, Ala., and Thomas R. Stanton, chief executive officer and chairman of the board of ADTRAN Inc., in Huntsville, Ala., have been appointed to the board of directors of the Federal Reserve Bank of Atlanta's Birmingham Branch. Their terms began Jan. 1, 2009, and run through Dec. 31, 2011.

Mauldin joined Bank Independent in 1988 and was elected president in 1996.  From 1982 to 1988, he was employed by First Atlanta Bank, where he served as vice president. He is chairman of the board of directors of Riverhill School and a current board member and recent chairman of Shoals Economic Development Authority. He led the effort to secure the National Alabama Boxcar commitment to north Alabama and also serves as a director of Leadership Alabama.

Mauldin received a bachelor's degree in finance from Auburn University in 1982.  He was elected Shoals Citizen of the Year by the Shoals Chamber of Commerce in 2008.

Stanton joined ADTRAN in 1995 as vice president of marketing for the Carrier Networks (CN) Division.  Since that time, he has held a number of senior management positions within the company including senior vice president and general manager of the CN Division. He was named chief executive officer in September 2005 and chairman of the board in 2007. Prior to joining ADTRAN, he served as vice president of marketing and engineering at Transcrypt International and held several senior management positions with E.F. Johnson Co.

Stanton is a member of the board of directors of the Telecommunications Industry Association and the Chamber of Commerce of Huntsville/Madison County. He received a bachelor's degree in computer engineering from Auburn University.

Federal Reserve Bank of Atlanta branch directors provide economic information from their industry and the branch territory to the district Bank's president and head office directors, who use the information in formulating monetary policy and making discount rate recommendations. Stanton was appointed to the board of directors of the Federal Reserve Bank of Atlanta's Birmingham Branch by the Board of Governors. Mauldin was appointed to the board of directors of the Federal Reserve Bank of Atlanta's Birmingham Branch by the Atlanta Fed's board of directors. The Board of Governors appoints three of the directors of the Birmingham Branch, and the Atlanta head office directors appoint four.