CINCINNATI, Dec. 26, 2012 (GLOBE NEWSWIRE) -- The Board of Directors of the Federal Home Loan Bank of Cincinnati has re-elected Carl F. Wick as Chairman, and B. Proctor Caudill Jr. as Vice Chairman. Both will serve terms beginning January 1, 2013.
Mr. Wick, of Centerville, Ohio, is Principal/Owner of Wick and Associates Business Consulting. He is a graduate of the Ohio State University and a retired executive of NCR Corp. in Dayton, Ohio. Mr. Wick's early work consisted primarily of NCR computer system installation and user training to banks, thrifts and credit unions. He managed the NCR Financial Systems Support and Training Centers in Chicago and Dallas, and later served as a director in NCR's research and development division. Also, Mr. Wick retired from the Ohio Board of Education in 2009 after serving more than eight years. He chaired several statewide committees focused on resolving Ohio public education issues.
Mr. Wick was appointed to the Board in 2003. In 2011 he was elected to a four-year term that runs through 2014. He served as the Board's Vice Chair 2005-2006 before being elected Chairman in 2007 and 2009. In 2012 he was elected Chairman of the Council of Federal Home Loan Banks, headquartered in Washington, D.C.
Mr. Caudill is a Director of Kentucky Bank in Paris, Kentucky, and 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 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, 2007 and 2010, and first served as Vice Chairman beginning in 2009. He serves on the Board's Personnel Committee, and is a representative of the FHLBank to the Council of Federal Home Loan Banks.
The FHLBank is a $67 billion, AA+ rated, congressionally-chartered regional wholesale bank providing financial services for residential housing and economic development to 741 member financial institutions located in Kentucky, Ohio and Tennessee. It has contributed $470 million for the creation of 61,000 units of lower-income housing through its Affordable Housing Program since 1990, and more than $18 million through additional, voluntary programs helping thousands to attain or preserve homeownership. The FHLBank System includes 12 district Banks, is wholly owned by its nearly 7,800 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 FHLBank's products, legislative or regulatory developments concerning the FHLBank System, competitive forces and other risks detailed from time to time in the FHLBank'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 FHLBank undertakes no obligation to update any such statements.
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