FEDERAL HOME LOAN BANK OF CINCINNATI ANNOUNCES RESULTS OF DIRECTOR ELECTIONS

Brady, Vance, Collins, Darby elected to four-year terms;
Uridil to serve as board chair; Pell as vice chair

CINCINNATI, Dec. 11, 2024 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced the results of the FHLB's 2024 director elections and board leadership updates. In this election, two Ohio Member Directors and two at-large Independent Directors were elected to the Board. From Ohio, Brady T. Burt and James J. Vance were elected as Member Directors. Susan E. Collins, Apison, Tenn., and Kristin H. Darby, Nashville, Tenn., were elected to serve as Independent Directors. All four directors will serve four-year terms commencing January 1, 2025, and expiring December 31, 2028.  Nancy E. Uridil will serve as chair for a two-year term commencing January 1, 2025 through December 31, 2026, and Michael P. Pell as vice chair filling a vacancy effective December 2, 2024 through December 31, 2025.

Brady T. Burt is Chief Financial Officer, Secretary and Treasurer of Park National Corp. (PKR), and CFO of Park National Bank, Newark, Ohio. He has served on the FHLB Board as a Member Director since 2017, and currently chairs its Audit Committee.

James J. Vance is Senior Vice President for Western-Southern Life Assurance Co., and Western & Southern Financial Group, Cincinnati, Ohio. He has served on the FHLB Board as a Member Director since 2017, and as its Vice Chair from January 2022- November 2024.  

Susan E. Collins recently retired as Executive Vice President, Chief Human Resources Officer and Chief Administrative Officer, Tennessee Valley Authority, Chattanooga, Tenn. She currently resides in Apison, Tenn. She was newly elected to the FHLB Board as an Independent Director.

Kristin H. Darby is Chief Information Officer, HarmonyCares, Nashville, Tenn. She has served on the FHLB Board as an Independent Director since 2021, and currently chairs its Business and Operations Committee.

Nancy E. Uridil is a retired Global CPG Executive and resides in Avon Lake, Ohio. She has served on the FHLB Board as an Independent Director since 2015, and currently chairs its Governance Committee.

Michael P. Pell is President and CEO, First State Bank, Winchester, Ohio. He has served on the FHLB Board as an Ohio Member Director since 2019.

About the FHLB

The FHLB is a AA+ rated wholesale cooperative bank owned by 609 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 access to products and services (primarily Advances, which are a readily available, low-cost source of funds, purchases of certain mortgage loans from members, and issuance of Letters of Credit to members) and a competitive return through quarterly dividends on their capital investment in the FHLB. The FHLB funds these products and services by raising private-sector capital from member-stockholders and, with the other Federal Home Loan Banks (FHLBanks) in the FHLBank System, issuing high-quality debt in the global capital markets. The FHLB also funds community investment programs that help its members create affordable housing and promote community economic development.

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 FHLB's products, legislative or regulatory developments concerning the FHLB System, competitive forces and other risks detailed from time to time in the FHLB'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 FHLB undertakes no obligation to update any such statements.

SOURCE Federal Home Loan Bank of Cincinnati