ATLANTA, July 19, 2016 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is pleased to announce that the board of directors has elected Brian E. Argrett to fill the District of Columbia member directorship vacancy on the board, effective August 1, 2016. The term will expire on December 31, 2017.
Mr. Argrett has served as president, chief executive officer, and director of City First Bank of DC since 2011. He also serves as chairman of the boards of directors for City First Enterprises and City First Foundation. Prior to joining City First, Mr. Argrett was founder and managing partner of both Fulcrum Capital Group and Fulcrum Capital Partners, L.P. He also served as president, chief executive officer, and director of Fulcrum Venture Capital Corporation, a federally licensed and regulated Small Business Investment Company.
Prior to joining Fulcrum in 1992, Mr. Argrett was an attorney with the real estate law firm Pircher, Nichols & Meeks in Los Angeles. Mr. Argrett earned his undergraduate degree from the McIntire School of Commerce at the University of Virginia and holds a Master of Business Administration and a Juris Doctor from the University of California, Berkeley.
Mr. Argrett currently serves as presidential appointee to the Community Development Advisory Board, chairman of the Community Development Bankers Association, and director of the Washington DC Economic Partnership. He is also a member of several banking and community organizations.
In accepting the position, Mr. Argrett said, “FHLBank Atlanta has been a reliable source of liquidity and risk management products for its members. I look forward to helping the Bank meet its business objectives while representing the interests of the District of Columbia members.”
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $4.8 billion in Affordable Housing Program funds, assisting more than 758,000 households.
Some of the statements made in this announcement are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank's control, and which may cause the Bank's actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by the forward-looking statements.
The forward-looking statements may not be realized due to a variety of factors, including without limitation any one or more of the following factors: legislative, regulatory and accounting actions, changes, approvals or requirements; future economic and market conditions (including the housing market); changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; political, national, and world events; disruptions in information systems; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general. Additional factors that might cause the Bank's results to differ from these forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.
New factors may emerge, and it is not possible for us to predict the nature, or assess the potential impact, of each new factor on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements. These statements speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of the forward-looking statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law.