INDIANAPOLIS, June 10, 2005 (PRIMEZONE) -- The Board of Directors of the Federal Home Loan Bank of Indianapolis (FHLBI) is pleased to announce that Douglas J. Iverson has been named Senior Vice President of the Mortgage Purchase Program (MPP).
In a unanimous vote of the Board, Iverson was promoted from Vice President and Manager of the MPP to head the newly formed MPP Division, reporting directly to President and CEO Martin L. Heger.
Mr. Iverson joined FHLBI in January 2005 bringing 32 years of banking, business and investment experience. "His knowledge, expertise and leadership ability has guided FHLBI through the first quarter of the year," said Heger. "Our decision to form a division dedicated to the secondary mortgage market confirms our commitment to MPP and to meeting and exceeding our members' needs and expectations. We believe Iverson is absolutely the best person for this job."
Background:
Iverson began his career in banking with Ottawa Savings/AmeriBank after graduating from Hope College in 1972 with a BA in Economics and Management. He went on to earn his MBA from Western Michigan University in 1975.
Doug Iverson held a number of positions with the Ottawa Savings/AmeriBank, including Banking Center Manager, Mortgage Department Manager, and Chief Administrative Officer. In 1996 he was named Chief Executive Officer, a position he held through 2000. When AmeriBank merged with Fifth Third Bank in 2000, AmeriBank had $1.1 billion in assets with 26 offices in 6 counties in Michigan. Following the merger, Doug assumed the position of Affiliate Mortgage Manager for the Chicago affiliate.
The Federal Home Loan Bank of Indianapolis, one of 12 regional banks that make up the Federal Home Loan Bank System, Builds Partnerships and Serves Communities by providing access to low-cost funding for over 430 chartered financial institutions in Indiana and Michigan. For more information about the FHLBI, visit our website at www.fhlbi.com