CINCINNATI, OHIO, Feb. 19, 2014 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Cincinnati's Board of Directors has elected director William J. Small to serve a two-year term as Vice Chair of the Board. His term began January 1. He succeeds B. Proctor Caudill Jr., Kentucky Bank, Paris, Kentucky, who retired from the Board after serving the regulatory maximum of three terms.
Mr. Small is Chairman of First Federal Bank of the Midwest in Defiance, Ohio, as well as Chairman of the holding company, First Defiance Financial Corp. He is past Chairman of the Ohio League of Financial Institutions, past president of the Federal Reserve Board's Thrift Institution Advisory Council, and served on the board of the Ohio Bankers League and the American Bankers Association. Bill is also past president and board member of the Defiance Area Chamber of Commerce, the Defiance City Schools Foundation, the Defiance Area Foundation, and the Defiance Area YMCA.
The FHLBank is a $96 billion congressionally-chartered wholesale regional bank providing financial services for residential housing and economic development to 732 member financial institutions located in Kentucky, Ohio and Tennessee. It has contributed $504 million for the creation of 65,000 units of lower-income housing through its Affordable Housing Program since 1990. Additionally, the FHLBank's Board of Directors has voluntarily contributed over $23 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 FHLBank System includes 12 district Banks, is wholly owned by its 7,700 member institution stockholders and does not use taxpayer dollars.