DALLAS, July 30, 2007 (PRIME NEWSWIRE) -- The Federal Home Loan Bank of Dallas (Bank) announced the promotion of both Mr. Stephen Otto and Mr. Mark Wert to Vice President.
Mr. Otto joined the Bank in 2006 as Director, Member Sales and has been promoted to Vice President, Director of Member Sales. Prior to joining the Bank, Mr. Otto held various positions with First Horizon, SouthTrust Bank, Empire Funding and Bank One.
Mr. Otto earned a Bachelor of Science degree in Business Administration and a Masters in Business Administration from the University of Texas at Arlington.
Mr. Wert has been promoted to Vice President and Treasurer. He joined the Bank in 2002 as a Funding Manager and was promoted to Treasurer in 2006. Before joining the Bank, Mr. Wert served as a global derivative products marketer and financial analyst for Bank of America.
Mr. Wert earned a Bachelor of Accounting degree from Clemson University and a Masters in Business Administration from Southern Methodist University.
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. The Bank, with total assets of $53.3 billion as of March 31, 2007, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank's website at www.fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3013