Federal Home Loan Bank of Cincinnati Welcomes New And Re-elected Directors
CINCINNATI, Feb. 6, 2018 /PRNewswire/ — The Federal Home Loan Bank of Cincinnati’s Board of Directors welcomes new and re-elected directors as a result of their recent elections. Members elected one director from Ohio, two directors from Kentucky, as well as one Public Interest Independent director. Each director will serve a four-year term that began January 1, 2018.
Newly elected from Ohio is Mark DuHamel, Executive Vice President and Corporate Treasurer, Huntington National Bank, Columbus, Ohio. Mr. DuHamel is returning to the FHLB Board after previously serving from 2009 to 2015. He oversees Huntington’s corporate treasury, which includes managing interest rate and liquidity risk, investment portfolio strategy and execution, derivatives and balance sheet hedging, mortgage servicing rights, wholesale funding activities, along with contributing to the company’s capital planning and stress testing. Previously, he was the Deputy CFO for FirstMerit Corporation, where he managed the company’s accounting, finance, treasury, capital stress testing and investor relations functions. Mr. DuHamel earned a B.S. in physiology and a MBA in finance from Michigan State University. Mr. DuHamel is a Chartered Financial Analyst and a member of the CFA Society of Columbus.
Re-elected from Kentucky were Greg W. Caudill and David E. Sartore. Both were re-elected to their second terms on the FHLB Board.
Mr. Caudill is President and CEO of Farmers National Bank in Danville, Ky. He attended Transylvania University and graduated from the University of Kentucky. He is also a graduate of the Kentucky School of Banking and the Graduate School of Banking at Louisiana State University. He is a member of the Centre College Board of Trustees where he chairs the Audit Committee. Additionally, he serves as Vice Chair of the Boyle Co. Industrial Foundation and is a board member of Bluegrass Tomorrow, a regional planning organization. He and his wife Melissa have been married 36 years and have three children.
Mr. Sartore is Executive Vice President and Chief Financial Officer for Field and Main Bank in Henderson, Ky. He has served for more than 25 years at Ohio Valley/Field & Main Bank. He is a graduate of the University of Southern Indiana and the BAI School of Bank Operations. Mr. Sartore resides in Henderson, Ky., with his wife and children.
Re-elected as Public Interest Independent director was Grady P. Appleton, Akron, Ohio. Mr. Appleton is the Executive Director of the East Akron Neighborhood Development Corporation (EANDC) and has more than 35 years of experience in community development and affordable housing construction. His experience as a Public Interest director includes representing consumer and community interests in banking services, credit needs and affordable housing. Under his leadership, EANDC has built and rehabilitated hundreds of units of affordable housing, and created hundreds of jobs. Mr. Appleton served nine years on the FHLB’s Advisory Council before his appointment to the FHLB Board in 2007.
The FHLB Board also elected James A. England to serve as Vice Chair of the Board. He has served on the Board since 2011. His two-year term as Vice Chair commences January 1, 2018. Mr. England is chairman of Decatur County Bank, a $93 million commercial bank headquartered in Decaturville, Tenn., where he has been employed for 45 years. He has been active in the Tennessee Bankers Association for two decades and served as chairman 2004-2005. Mr. England also served two terms on the board of directors of the Memphis Branch of the Federal Reserve Bank of St. Louis. He is a member and former chairman of the Jackson State Community College Foundation in Jackson, Tenn. He is Chairman of the loan committee for The Southwest Tennessee Development District and previously served as chairman of the Decatur County Industrial Finance Board. Mr. England also served as Vice Mayor and Finance Commissioner for the Town of Decaturville for 14 years.
Mr. England succeeds William J. Small, Chairman of First Federal Bank of the Midwest in Defiance, Ohio who is retiring from the FHLB Board after 11 years of service.
The FHLB is a $105 billion congressionally-chartered regional wholesale bank providing financial services for residential housing and economic development to 662 member financial institutions located in Kentucky, Ohio and Tennessee. It has contributed $661 million for the creation of more than 83,000 units of lower-income housing through its Affordable Housing Program since 1990. Additionally, the FHLB’s Board of Directors has voluntarily contributed $25 million from profits in response to members’ community needs including natural disaster home reconstruction, foreclosure mitigation, emergency repair and accessibility rehab for special needs and elderly populations. The FHLB System includes 11 district FHLBanks, is wholly owned by its 7,300 member institution stockholders and does not use taxpayer dollars.
This news release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, the effects of economic market conditions on demand for the FHLB’s products, legislative or regulatory developments concerning the FHLB System, competitive forces and other risks detailed from time to time in the FHLB’s filings with the Securities and Exchange Commission. The forward-looking statements speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the FHLB undertakes no obligation to update any such statements.
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SOURCE Federal Home Loan Bank of Cincinnati