FEDERAL HOME LOAN BANK OF CINCINNATI ANNOUNCES RESULTS OF DIRECTOR ELECTIONS

Five directors elected to four-year terms; Anderson re-elected Chair of Board

CINCINNATI, Jan. 12, 2023 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced the results of the FHLB's 2022 director elections. Members elected one director from Ohio, two directors from Tennessee and two independent directors. Each director will serve a four-year term that began January 1, 2023. The Board also re-elected J. Lynn Anderson as Chair.

Elected to the Board as an Ohio member director is incumbent Michael P. Pell. Mr. Pell has 40 years of banking experience and serves as President and CEO of First State Bank. Headquartered in Winchester, Ohio, First State Bank operates 13 full-service offices in Southern Ohio and three full-service offices in Eastern Kentucky with $850 million in assets. Mike has served on the FHLB Board since 2019. Mike previously served as Chairman of the Ohio Bankers League and currently serves on the Ohio Banking Commission. 

Newly elected as Tennessee member directors are Roy Molitor (Mott) Ford, Jr. and H. McCall Wilson Jr.

Mr. Ford was named CEO of Commercial Bank and Trust Company in 1998 and elected Chairman in 2018. The $1.1 billion bank was founded in 1877 and operates in four markets in West Tennessee. Mott has served on the board of the Memphis branch of the Federal Reserve Board of St. Louis and the Community Depository Institution Advisory Council for the St. Louis Federal Reserve. He is a former Chairman of the Tennessee Bankers Association (TBA), past President of the Independent Division of the TBA and past Chairman of the TBA Government Relations Committee. Mott graduated from The Stonier Graduate School of Banking. He serves on the Executive Board for the Collierville Chamber of Commerce and has served on numerous nonprofit boards in the Memphis area.

Mr. Wilson is President and CEO of The Bank of Fayette County, a community bank founded in 1905 in Moscow, Tenn. where he has served since June 2021. He began his career at the accounting and consulting firm of Reynolds, Bone and Griesbeck as a Certified Public Accountant. He has served as Chairman of the American Bankers Association's Community Bankers Council, on the Board of American Bankers Insurance Association and the state of Tennessee's Collateral Pool Board. McCall is the current Chairman of the Tennessee Bankers Association and Chairman of the Board for the Title Center of the South. McCall graduated from Christian Brothers University with an MBA in finance and a Bachelor of Science in accounting.

Elected as independent directors are incumbents L. Scott Spivey of Cincinnati, Ohio, and Nancy E. Uridil of Avon Lake, Ohio.

Mr. Spivey has over 40 years of financial management experience across several industries ranging from transportation and logistics to telecommunications and packaged goods. From January 2015 to September 30, 2022, Scott served as Senior Vice President and CFO for First Student Inc., North America's largest contractor of school bus transportation services. Scott has held other progressive financial leadership roles with CHEP Americas, CHEP Global Pallets, General Mills, Pepsi Cola, Stride Rite Inc. and Bellsouth. In 2021, Scott was appointed as an independent director of the FHLB Board to fill the one-year term created by a Board vacancy. He holds an MBA from University of St. Thomas and a Bachelor of Arts in Accounting from Clark Atlanta University.

Ms. Uridil is a retired global consumer products senior executive with more than 18 years of experience in corporate governance, strategy, business operations, systems, personnel management and all functions of supply chain. She served in this capacity for several highly valued consumer products companies including Moen Inc., Estee Lauder and Procter & Gamble. Nancy was initially elected to the FHLB Board in 2014. She has served on several FHLB Board committees and currently chairs its Governance Committee. In her community, she served as Board Chair of the YWCA of Cleveland from 2009-2013. She graduated with honors from Purdue University with a Bachelor of Science in civil engineering.

J. Lynn Anderson was re-elected to serve as Chair of the Board. Ms. Anderson has over 18 years of experience in financial services, having held various positions of increasing responsibility at Nationwide Property and Casualty Insurance, from 1998 to 2003, and at Nationwide Bank from which she retired as President and CEO in 2016. Since 2010, Lynn has served on the board of National Church Residences, the nation's largest not–for–profit provider of affordable senior housing, in various leadership roles including Board Chair. She has served as an FHLB director since 2012, including as a member director from 2012-2016, and as an independent director from 2017-present, with a public interest director designation since 2020. Additionally, she has served as FHLB Board Chair since 2021. She holds a bachelor's degree from The Ohio State University with a concentration in accounting. Her second two-year term as FHLB Board Chair began January 1, 2023, and expires December 31, 2024.

The FHLB is a wholesale cooperative bank owned by 618 member financial institutions, including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. The FHLB provides members with reliable funding to support housing finance, affordable housing and community investment, and assist with their balance sheet management. It has contributed nearly $841 million for the creation of more than 104,000 units of affordable housing through its Affordable Housing Program since 1990. Additionally, the FHLB's Board of Directors has voluntarily contributed more than $25 million from profits in response to members' community needs including natural disaster home reconstruction, foreclosure mitigation, emergency repair and accessibility rehab for special needs and elderly populations. The FHLB System includes 11 district Banks, is wholly owned by its nearly 6,800 member institution stockholders and does not use taxpayer dollars.

SOURCE Federal Home Loan Bank of Cincinnati