NEW YORK, Jan. 23, 2014 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY" or "Bank") announced today that, on January 16, 2014, its Board of Directors elected Kevin Cummings, president and chief executive officer of Investors Bank, to fill the unexpired term of former FHLBNY Member Director Ronald E. Hermance, Jr., who resigned from the Board earlier in January 2014. Mr. Cummings will serve as a Member Director representing FHLBNY members in New Jersey from January 17, 2014 through and including December 31, 2014.
"Kevin is a true community banker, and his experience, local knowledge and expertise will make valuable contributions to our Board," said Michael M. Horn, chairman of the Board and Partner, McCarter & English, LLP. "While we regret losing a Director of Ron Hermance's caliber, Kevin Cummings will make a tremendous addition to the Board, and help us continue to provide guidance to our strong-performing Home Loan Bank."
Mr. Cummings was appointed president and chief executive officer of Investors Bank, Short Hills, New Jersey, on January 1, 2008. From July 2003 to January 2008, he served as executive vice president and chief operating officer for Investor Savings Bank, (a predecessor of Investors Bank). Prior to joining Investors, Mr. Cummings had a 26-year career with the independent accounting firm of KPMG LLP. He was an audit partner in the Financial Services practice in the New York office and lead partner on a major commercial banking client. He is a certified public accountant.
Mr. Cummings is a member of the Audit and Finance Committee at St. Peter's Prep in Jersey City; former Chairman of the Board and current Trustee of the Summit Speech School; a Trustee of The Scholarship Fund for Inner-City Children and the Visiting Nurse Assn. Health Group; former Chairman of the Board and current member of the Executive Committee of the NJ Bankers Association; and a board member of the Independent College Fund of New Jersey and the All Stars Project of New Jersey.
CONTACT: Eric Amig
SOURCE Federal Home Loan Bank of New York