CINCINNATI, Dec. 23, 2015 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced the results of the FHLB's 2015 director elections. Members elected two directors from Ohio, as well as two at-large Independent directors. Each director will serve a four-year term beginning January 1, 2016.
Newly elected from Ohio is Robert T. Lameier, President and CEO of Miami Savings Bank, Miamitown, Ohio. He earned his bachelor's degree from the University of Cincinnati and an MBA from Xavier University. Mr. Lameier is involved in banking organizations on the local, state and national level. He is 2015 Chairman of the Ohio Bankers League, is currently a director of OBL BankServices, and is a member of the Community Bank Council of the American Bankers Association. He and his wife Marilyn reside in Delhi, Ohio, and have two daughters and four grandchildren.
Re-elected from Ohio was Michael R. Melvin, President and CEO of Perpetual Federal Savings Bank, Urbana, Ohio. He is also director and secretary/treasurer of the Rotary Manor senior housing center in Urbana, a trustee of the Champaign County Library Board, and has served as the chairman of the Ohio League of Financial Institutions. Mr. Melvin and his wife Mary have two children and five grandchildren.
Re-elected as Independent directors were Donald R. Mullineaux of Lexington, Ky., and Charles J. Ruma of Columbus, Ohio. Dr. Mullineaux, is Emeritus duPont Endowed Chair in Banking and Financial Services at the Gatton College of Business and Economics at the University of Kentucky. Dr. Mullineaux received his Ph.D. in Economics from Boston College and is a former Senior Vice President and Director of Research at the Federal Reserve Bank of Philadelphia. Dr. Mullineaux serves as the Curriculum Director of the American Bankers Association's Stonier Graduate School of Banking and is widely published in the academic and financial press. He was recently named a Distinguished Scholar by the Southern Finance Association. He is also Chairman of the FHLB Cincinnati Board of Directors.
Mr. Ruma has more than 45 years of real estate development experience in single-family, multifamily and commercial projects as president of Virginia Homes in Central Ohio. He served on the Ohio Housing Finance Agency, the state's housing agency, where he chaired the Single Family Committee, and has served on the Ohio Board of Building Standards. He was also President of the National Association of Homebuilders in 1999, and serves on the Board of the National Housing Endowment and the NAHB Board of Governors. Mr. Ruma is also Chairman of the Housing Committee of the FHLB Cincinnati Board.
The FHLB is a $111 billion congressionally-chartered regional wholesale bank providing financial services for residential housing and economic development to 690 member financial institutions located in Kentucky, Ohio and Tennessee. It has contributed $572 million for the creation of more than 74,000 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 Banks, 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.