CINCINNATI, Jan. 30, 2012 (GLOBE NEWSWIRE) -- Carl Wick, chairman of the Federal Home Loan Bank of Cincinnati, has been elected to a two-year term as chairman of the Council of Federal Home Loan Banks. He succeeds Lee R. Gibson, chairman of the Federal Home Loan Bank of Dallas.
The Council is the public voice of the 12 Federal Home Loan Banks, serving nearly 7,800 member financial institutions and their communities nationwide. As chairman, Mr. Wick will help determine the FHLBanks' stance on issues such as affordable housing and housing finance.
Mr. Wick is Principal/Owner of Wick and Associates Business Consulting, Centerville, Ohio. He has served as a director of the FHLBank Cincinnati since 2003, and was named chairman in 2007. Mr. Wick is a retired executive of NCR Corp, and his 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 retired from the Ohio Board of Education in 2009 after serving eight and a half years. He is also a partner in Gwinnie Lou Stables, a standardbred horse breeding and racing farm.
"As a provider of liquidity in support of community banking, the Federal Home Loan Banks help to ensure important financial services are available to Americans in every corner of the nation," Wick said. "As the economy gains strength, the Federal Home Loan Banks will be there to assist lenders in meeting demand, and I look forward to working with the Council in support of this aim."
The Council of Federal Home Loan Banks is a nonprofit trade association based in Washington, D.C. The Council's leadership includes the chairman of the board, vice chairman of the board and presidents of all 12 FHLBanks.
The FHLBank Cincinnati is a $67 billion congressionally-chartered wholesale regional bank providing financial services for residential housing and economic development to 741 member financial institutions located in Kentucky, Ohio and Tennessee. It has contributed more than $434 million for the creation of nearly 58,600 units of lower-income housing through its Affordable Housing Program since 1990, and more than $15 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.