Source: Federal Home Loan Bank of Cincinnati
CINCINNATI, March 31, 2005 (PRIMEZONE) -- David H. Hehman, president, Federal Home Loan Bank of Cincinnati (FHLBank Cincinnati) announced that the company's board of directors recently elected Charles J. Koch to serve a two-year term as chair of the board and Carl F. Wick to serve a two-year term as vice chair. Both terms are effective immediately and will expire December 31, 2006.
Mr. Koch is chairman, Charter One Bank, N.A., Cleveland, Ohio; vice chairman, Citizens Financial Group; and is a member of the board of directors of The Royal Bank of Scotland. He has been a member of Charter One Bank's board of directors since 1973 and served as its chairman, president and CEO from 1995 until its recent sale to The Royal Bank of Scotland. Mr. Koch was first elected to the FHLBank Cincinnati board in 1990, serving three consecutive two-year terms. He was then elected to consecutive three-year terms in 1998, 2001 and 2004. He chairs the board's Personnel Committee; sits on the Asset/Liability Policy, Congressional Outreach, and Credit Policy Committees; and serves as a representative of the FHLBank Cincinnati for the Council of Federal Home Loan Banks.
Mr. Wick is principal/owner of Wick and Associates Business Consulting. He retired from the NCR Corporation, a worldwide supplier of banking computer equipment. Mr. Wick was appointed by Ohio Governor Bob Taft to the Ohio State Board of Education, where he currently serves as co-chair of the Capacity Committee, legislative liaison for the board, and a member of the Executive Committee. He is a senior member of the Institute of Electrical and Electronic Engineers. Mr. Wick was appointed to the FHLBank Cincinnati board in 2003 and was reappointed in 2004 to a three-year term. He chairs the board's Information Technology Committee, serves on the Housing and Community Development Committee, and is a representative of the FHLBank Cincinnati for the Council of Federal Home Loan Banks.
The FHLBank Cincinnati is an $83 billion, AAA-rated regional wholesale bank providing financial services for residential housing and economic development to 750 member financial institutions located in the Fifth FHLBank District of Ohio, Kentucky, and Tennessee. The FHLBank Cincinnati has contributed over $190 million for the creation of 31,500 units of lower-income housing through its Affordable Housing Program since 1990. The FHLBank System, which includes 12 district Banks, was chartered in 1932 by the U.S. Congress to promote housing finance but is wholly owned by its 8,000 member institution stockholders and does not use taxpayer dollars.
CONTACT: Federal Home Loan Bank of Cincinnati
Connie Kolita
513-852-7666
KolitaCM@fhlbcin.com
Keywords: MANAGEMENT CHANGES, BANKING
Source: Federal Home Loan Bank of Cincinnati
CINCINNATI, March 31, 2005 (PRIMEZONE) -- David H. Hehman, president, Federal Home Loan Bank of Cincinnati (FHLBank Cincinnati) announced that the company's board of directors recently elected Charles J. Koch to serve a two-year term as chair of the board and Carl F. Wick to serve a two-year term as vice chair. Both terms are effective immediately and will expire December 31, 2006.
Mr. Koch is chairman, Charter One Bank, N.A., Cleveland, Ohio; vice chairman, Citizens Financial Group; and is a member of the board of directors of The Royal Bank of Scotland. He has been a member of Charter One Bank's board of directors since 1973 and served as its chairman, president and CEO from 1995 until its recent sale to The Royal Bank of Scotland. Mr. Koch was first elected to the FHLBank Cincinnati board in 1990, serving three consecutive two-year terms. He was then elected to consecutive three-year terms in 1998, 2001 and 2004. He chairs the board's Personnel Committee; sits on the Asset/Liability Policy, Congressional Outreach, and Credit Policy Committees; and serves as a representative of the FHLBank Cincinnati for the Council of Federal Home Loan Banks.
Mr. Wick is principal/owner of Wick and Associates Business Consulting. He retired from the NCR Corporation, a worldwide supplier of banking computer equipment. Mr. Wick was appointed by Ohio Governor Bob Taft to the Ohio State Board of Education, where he currently serves as co-chair of the Capacity Committee, legislative liaison for the board, and a member of the Executive Committee. He is a senior member of the Institute of Electrical and Electronic Engineers. Mr. Wick was appointed to the FHLBank Cincinnati board in 2003 and was reappointed in 2004 to a three-year term. He chairs the board's Information Technology Committee, serves on the Housing and Community Development Committee, and is a representative of the FHLBank Cincinnati for the Council of Federal Home Loan Banks.
The FHLBank Cincinnati is an $83 billion, AAA-rated regional wholesale bank providing financial services for residential housing and economic development to 750 member financial institutions located in the Fifth FHLBank District of Ohio, Kentucky, and Tennessee. The FHLBank Cincinnati has contributed over $190 million for the creation of 31,500 units of lower-income housing through its Affordable Housing Program since 1990. The FHLBank System, which includes 12 district Banks, was chartered in 1932 by the U.S. Congress to promote housing finance but is wholly owned by its 8,000 member institution stockholders and does not use taxpayer dollars.
CONTACT: Federal Home Loan Bank of Cincinnati
Connie Kolita
513-852-7666
KolitaCM@fhlbcin.com
Keywords: MANAGEMENT CHANGES, BANKING
