INDIANAPOLIS, July 6, 2007 (PRIME NEWSWIRE) -- The Board of Directors of the Federal Home Loan Bank of Indianapolis (FHLBI) announced today that it has named former FHLBI Senior Vice President and Chief Financial Officer (CFO) Milton J. Miller II as President and Chief Executive Officer.
Miller is expected to assume his new position on July 16, 2007. He will succeed Brian K. Fike who has led the bank as Interim President and CEO since December 2006.
Mr. Miller began his career at FHLBI in 1978 and held various positions until his appointment as CFO in 1985, a position he held until he accepted early retirement from the bank in December 2006.
Mr. Miller received a BS in Management and Administration in 1977 and an MBA in Finance in 1981, both from Indiana University, Bloomington. He received his Chartered Financial Analyst (CFA) designation in 1986.
FHLBI Board Chairman Paul Clabuesch stated that the board was impressed with Miller's strong financial background and his understanding of the changing financial and regulatory environment. "Miller's extensive experience in the financial markets will be a tremendous asset as the bank continues to address the challenges of the evolving financial and mortgage product marketplace," said Mr. Clabuesch.
Safe Harbor Statement
This document contains forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, which are not statements of historical fact. The forward-looking statements contained in this release reflect our current beliefs and expectations. Actual results or performance may differ materially from what is expressed in the forward-looking statements. Readers are referred to the documents filed by us with the SEC, specifically reports on Form 10-K and Form 10-Q including risk factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov
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.