SEARCY, Ark., Jan. 23, 2014 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce the recent election of Michael C. Hutsell to FHLB Dallas' Board of Directors (FHLB Dallas Board). Mr. Hutsell's term on the FHLB Dallas Board began in January 2014. He will serve a four-year term that will expire on December 31, 2017.
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Mr. Hutsell has more than 25 years of experience in the banking industry. Currently, he serves as president and director of First Security Bank in Searcy, Arkansas. He previously held positions as executive vice president and operations officer. Before launching his banking career, Mr. Hutsell held several senior accounting positions as a Certified Public Accountant with CPA firms in Arkansas.
"Mr. Hutsell's extensive knowledge of the financial services industry and his accounting background will make him a valued member of FHLB Dallas' Board of Directors," said FHLB Dallas Interim President and CEO Paul Joiner. "We are looking forward to his contributions."
Mr. Hutsell has been appointed to serve on the Affordable Housing and Economic Development and Audit committees of the FHLB Dallas Board.
"I am honored to be serving on the FHLB of Dallas Board of Directors and pleased to be a member of these committees. I look forward to learning a great deal and hope to be able to add something to the efforts of this organization during my service."
While Mr. Hutsell's professional accomplishments abound – he was Arkansas Business' 2011 Lifetime Achievement Award winner and he is a Searcy Public Schools Hall of Honor Inductee – Mr. Hutsell is not lacking in contributions to his community.
He has served on the boards of the City of Searcy Planning Commission, Main Street Searcy and The Sunshine School – a private school for students with developmental disabilities in Searcy. He is also past president of the Searcy Chamber of Commerce and the Searcy Kiwanis Club boards.
"Community service is very rewarding and I have enjoyed my opportunities to serve; I am fortunate that my employers have encouraged participation."
Mr. Hutsell graduated from Arkansas State University in Jonesboro with a B.S. in Accounting, and he is a CPA. He and his wife, Dianne have two adult children and several grandchildren.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $31.3 billion as of September 30, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
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