CINCINNATI, Dec. 5, 2008 (GLOBE NEWSWIRE) -- The FHLBank Board of Directors elected Carl F. Wick to serve as Chair of the Board and B. Proctor Caudill Jr. as Vice Chair. Both terms are effective January 1, 2009.
Mr. Wick is Principal/Owner of Wick and Associates Business Consulting. He is a retired executive of NCR Corporation in Dayton, Ohio. Mr. Wick's early work consisted of NCR computer system installation and training to banks, thrifts and credit unions. Later he served as a director in NCR's research and development division. Mr. Wick is a member of the Ohio Board of Education where he serves as the Board's budget chairman, federal legislative liaison, and a member of the Board's executive committee. He is also a partner in Gwinnie Lou Stables, a standardbred horse breeding and racing farm.
Mr. Wick was appointed to the Board in 2003 and has been reappointed three times, with his current three-year term extending through 2010. He served as the Board's Vice Chair 2005-2006 before being elected Chairman in 2007. He chairs the Board's Information Technology and Personnel Committees, and is a representative of our FHLBank to the Council of Federal Home Loan Banks.
Mr. Caudill is Director of Kentucky Bank in Paris, Kentucky. He is former Chairman, President and CEO of Peoples Bank, Morehead and Sandy Hook, Kentucky. He is a past President of the Kentucky Bankers Association and has also served as Chairman of the Morehead State University Foundation board of trustees. Mr. Caudill currently serves as Chairman of the Rowan County Industrial Development Authority and recently accepted a board position with Frontier Housing Inc., a nonprofit organization providing affordable housing in Eastern Kentucky. Mr. Caudill has served on the local hospital and several other community boards of directors.
Mr. Caudill won elections to the Board to terms beginning in 2004 and 2007. He currently is chair of the Board's Financial Management Committee, and also serves on the Personnel and Housing & Community Development Committees.
The FHLBank is a $97 billion congressionally-chartered wholesale regional bank providing financial services for residential housing and economic development to 725 member financial institutions located in Kentucky, Ohio and Tennessee. It has contributed $295 million for the creation of 46,404 units of lower-income housing through its Affordable Housing Program since 1990, and $9 million to help 1,108 persons become first-time homebuyers through the American Dream Homeownership Challenge. The FHLBank System includes 12 district Banks, is wholly owned by its 8,100 member institution stockholders and does not use taxpayer dollars.