Applied Bank announces The Honorable Walid Maalouf a New Director

Applied Bank, Wilmington, Delaware, is pleased to announce the appointment of Mr. Walid Maalouf to Applied Bank's Board of Directors.

Mr. Maaloufis currently a Private Banking and Foreign Policy Consultantinthe Washington D.C.area. His banking career span from 1988 to 2003 in Washington DC and in Northern Virginia. He worked with First American Bank, Signet Bank, Franklin National Bank and Sequoia Bank. Prior to Mr. Maalouf's Washington Banking experience, he worked at Banque National de Paris (BNPI) in Beirut, Lebanon for four years.

In 2003 President George W. Bush appointed him the Alternative Representative of the United States of America to the General Assembly of the United Nations and from 2004 to 2009 he served as the Director of Public Diplomacy for Middle Eastern and MEPI Affairs at the U.S. Agency for International Development (USAID).

Mr. Maalouf is a graduate of Belmont Abbey-Sacred Heat College in Belmont, North Carolina and the Foreign Service Institute in Arlington, Virginia where he completed executive courses in public diplomacy and communications.

In addition to his role at Applied Bank, Mr. Maalouf is the president of the Lebanese American Renaissance Partnership (LARP),and is a Knight of the Sovereign Military Order of Malta. He has been the recipient of several awards including the 2006 Distinguished Wall of Fame from his alma mater, USAID's Meritorious Honor Award in 2005 as well as the Patriarchal Golden Cross of Jerusalem from the Melkite Patriarch of Antioch and all the East, Alexandria, and Jerusalem in 1998. He has also been recognized for his dedicated commitment to public service and community organizations.

"Walid brings a wealth of experience and expertise as a diplomat and banker which will add a valuable perspective to the Bank and our Board of Directors," stated Applied Bank Chairman and CEO Rocco Abessinio. "His extensive knowledge will be very beneficial to the further growth of Applied Bank throughout this region."

Applied Bank is Delaware's number one rated bank and one of the highest rated banks in the nation.