INDIANAPOLIS, June 29, 2006 (PRIMEZONE) -- The Board of Directors of the Federal Home Loan Bank of Indianapolis (FHLBI) elected Jeffrey A. Poxon, CFA, Senior Vice President of Investments at Lafayette Life Insurance Company, Lafayette, Indiana, to fill the unexpired term of departing board member Vincent Otto. Otto's term expires December 31, 2006.
Otto, Executive Vice President and CFO of Union Federal Bank, was elected to the board in 2004. He resigned as director effective May 26, 2006, following the sale of Union Federal Bank to Sky Financial Group of Bowling Green, Ohio, making him ineligible to serve as an Indiana-elected director.
Poxon joined the Lafayette Life Insurance Company in 1979, serving as Vice President of Securities. In 1987 he became Investment Vice President and Chief Investment Officer followed by a promotion to Senior Vice President in 1995 while continuing to serve as Chief Investment Officer.
Poxon earned his CFA (Chartered Financial Analyst) designation in 1975. He holds a Master of Science in finance and a Bachelor of Science in industrial management from Purdue University, Krannert School of Management.
He is a member of the Institute of Chartered Financial Analysts, the Society of Financial Analysts, the Financial Analysts Federation, and the Economic Club of Indianapolis. He is actively involved in his community serving on numerous boards and committees, including Director of the Lafayette Savings Bank; Director, President of the GLM Art Foundation; Director, Treasurer of the YWCA Foundation; and a member of the Lafayette Home Hospital Finance Committee.
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The Federal Home Loan Bank of Indianapolis is one of 12 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for insured financial institutions, such as commercial banks, savings institutions, credit unions and insurance companies. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations.
The FHLBI promotes Building Partnerships, Serving Communities by serving as a wholesale source of funds for chartered financial institutions throughout Indiana and Michigan. For more information about the FHLBI, visit www.fhlbi.com.