CINCINNATI, January 10, 2022 / PRNewswire / – The Federal Home Loan Bank of Cincinnati The board of directors announced the results of the elections of the directors of the FHLB in 2021. The members elected two directors of Kentucky, as well as an independent director. A director coming out of Ohio was declared elected as the only nominee to run for the Ohio Open Member Trustee seat. Each director will serve a four-year term that began January 1, 2022. The Council also elected James j vance as vice-chairman and appointed two independent directors to fulfill unexpired terms.
Elected to the board as members of Kentucky, the directors are J. Wade Bay and holder Greg W. Caudill.
Mr. Berry is President and Chief Executive Officer of Farmers Bank and Trust Company, headquartered in Marion, Ky. He joined the Farmers Bank as Loan officer in 1993 and became President and CEO in 2011. He graduated in 1991 in economics from University of Western Kentucky and graduated from numerous banking schools including Louisiana State University Higher School of Banking and University of South Carolina Higher School of Banking Investments and Financial Management. Mr. Berry has dedicated countless hours to supporting his industry, most notably as the 2020-2021 President of the Kentucky Bankers Association. A partial list of his community involvement includes stints as chairman of a local hospital board, chairman of his hometown chamber of commerce, and served on numerous foundation boards.
Mr. Caudill is a member of the board of directors of Farmers National Bank in Danville, Ky. He attended University of Transylvania and graduated from University of Kentucky. He is also a graduate of the Kentucky School of Banking and the Graduate School of Banking of Louisiana State University. He is a member of College of the Center Board of directors where he chairs the audit committee. In addition, he is chairman of the Boyle Co. Industrial Foundation and a member of the board of directors of Bluegrass Tomorrow, a regional planning organization.
Declared elected as a member director of the Ohio holds Kathleen A. Rogers. Ms. Rogers is executive vice president of US Bank. She has over 30 years of experience with US Bank and its predecessors Firststar, Star Bancorp and First National Bank of Cincinnati. She has held various positions within the financial organization of the company, including that of financial director of the company. Ms. Rogers was elected by the FHLB Board of Directors in 2019 to fill the vacant position of a retired director. A Cincinnati resident, Ms. Rogers holds a degree in business administration and accounting from the Ohio State University. In the community, Ms. Rogers has served on numerous boards focused on educational and other opportunities for at-risk children.
Newly elected as an independent director of public interest is Danny J. Herron of Nashville, Tennessee. Mr. Herron is President and CEO of Habitat for Humanity of Greater Nashville. Mr. Herron brings to the Board extensive experience in community banking, having served as President and CEO of Cumberland Bank, Franklin, Tennessee. and Regional President of GreenBank, Greenville, Tenn. for 15 years combined. Additionally, Mr. Herron has served on the FHLB Affordable Housing Advisory Board as a member since 2014 and as Board Chair from 2019 to 2020.
James j vance was elected vice-chairman of the board. Mr. Vance is Senior Vice President and Co-Chief Investment Officer of Western-Southern Life Assurance Company in Cincinnati. He was first elected to the Board of Directors in 2017. He joined Western & Southern in 1994 after eight years with Eastman Kodak Co. in Rochester, New York. Mr. Vance received his Bachelor of Business Administration from University of Wittenberg, Springfield, Ohio, a law degree University of Cincinnati College of Law and an MBA in Finance from Indiana University. He is a member of the Ohio Bar Association. Mr. Vance is involved in a number of civic and charitable organizations in Greater Cincinnati including Cincinnati Children’s Hospital and St. Elizabeth’s Hospital, and previously The Beechwood Home, the Urban League of Greater Cincinnati and the Cincinnati Nature Center. His two-year term as Vice-Chairman of the Board begins January 1, 2022 and expire December 31, 2023.
In addition, the Board appointed Lewis diaz and L. Scott spivey to fill two unexpired independent director mandates left vacant by outgoing directors.
Mr. Diaz from Covington, Ky. is a public finance lawyer and partner at Dinsmore & Shohl, LLP. Mr. Diaz focuses his practice on affordable housing and traditional government finance. He works with various participants in housing transactions including multi-family housing developers, for-profit and not-for-profit developers and underwriters. His extensive legal career in the area of housing finance has been built on a foundation of housing advocacy for residents of Kentucky through seven years of service, including acting chief counsel, with Kentucky Housing Corporation, the state’s housing finance agency. Mr. Diaz will serve as an independent director in the public interest from January 1, 2022 through December 31, 2023.
Mr. Spivey is Senior Vice President, Chief Financial Officer of First Student, Inc., Cincinnati, the largest North American supplier of school bus transportation, with $ 2.5 billion in annual income. A resident of Cincinnati, Mr. Spivey has over 40 years of financial and business management experience in publicly traded companies with revenues of over $ 1 billion. His extensive global financial and management experience spans many industries ranging from transportation and logistics to telecommunications and packaged goods. His diverse skills include financial and organizational management, auditing and accounting, strategic planning, mergers and acquisitions and supply chain management. Mr. Spivey will exercise the functions of independent director from January 1, 2022 through December 31, 2022.
The FHLB is a wholesale cooperative bank owned by 625 member financial institutions, including commercial banks, savings banks, credit unions, insurance companies, and community development financial institutions in Kentucky, Ohio and Tennessee. The FHLB provides members with access to products and services and a competitive return through quarterly dividends on their capital investment in the FHLB. He contributed nearly $ 827 million for the creation of more than 102,000 affordable housing units through its affordable housing program since 1990. In addition, the board of directors of the FHLB has voluntarily contributed $ 25 million benefits in response to member community needs, including rebuilding homes in the event of natural disasters, mitigation of foreclosures, emergency repairs, and accessibility rehabilitation for special needs and elderly populations . The FHLB system consists of 11 district banks, is fully owned by its approximately 6,700 member institutional shareholders, and does not use taxpayer money.
This press 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 FHLB products, legislative or regulatory developments regarding the FHLB system, competitive forces and other risks detailed from time to time in documents filed by the FHLB with the Securities and Exchange Commission. Forward-looking statements are valid as of the date of their publication and are not guarantees of future performance. The actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the FHLB does not undertake to update these statements.
SOURCE Federal Home Loan Bank of Cincinnati