Joseph R. Ficalora Elected Vice Chairman Of The Federal Home Loan Bank Of New York

NEW YORK, Oct. 1, 2013 /PRNewswire/ -- The Federal Home Loan Bank of New York ("Bank") announced today that Joseph R. Ficalora has been elected by its Board of Directors ("Board") to serve as the Board's vice chairman.  Mr. Ficalora, who is president and chief executive officer of New York Community Bank, has served on the Bank's Board as a Member Director representing the interests of the Bank's members since January 1, 2005.  

"The Board of Directors of the Federal Home Loan Bank of New York is an extremely talented group of banking industry leaders and housing and community development experts, and I am honored to take on the role of its vice chairman," said Mr. Ficalora. "In my service as director, I have seen how important it is to the Bank's membership to have an active and involved Board, and I look forward to continuing to serve the cooperative in my new role."

Mr. Ficalora takes over the vice chairman position from José Ramón González, and will serve in this position through December 31, 2014.  Mr. González resigned from the Board on September 30, 2013, and will join the Bank as its executive vice president on October 15, 2013.

"I believe our Board has made an excellent choice in electing Joe to serve as vice chairman," said Michael M. Horn, chairman of the Bank's Board of Directors. "In his role as a director, he has demonstrated a tremendous knowledge of both the Federal Home Loan Bank System and the community banking industry.  His expertise and experience will help guide the Home Loan Bank as we continue our mission to meet the needs of our members and the communities we all serve."

"Joe is one of the best community bankers in the nation, and is well-suited to take on the role of vice chairman," said Alfred A. DelliBovi, president of the Bank. "His knowledge of the banking industry and regulatory environment, as well as his focus on responsible lending, has been a valuable asset to the Bank and our members over his nine years on the Board, and I look forward to his contributions and leadership in his new role."

Mr. Ficalora has been the president and chief executive officer and a director of New York Community Bancorp, Inc. ("NYCB") since July 20, 1993.  He has also been the president and chief executive officer and a director of NYCB primary subsidiaries, New York Community Bank ("New York Community") and New York Commercial Bank ("New York Commercial"), both of which are members of the Federal Home Loan Bank of New York, since January 1, 1994 and December 30, 2005, respectively.  On January 1, 2007, he was appointed chairman of New York Community Bancorp, Inc., New York Community and New York Commercial (a position he previously held at New York Community Bancorp, Inc. from July 20, 1993 through July 31, 2001 and at New York Community from May 20, 1997 through July 31, 2001); he served as chairman of these three entities until December 2010.  Since 1965, when he joined New York Community (formerly Queens County Savings Bank), Mr. Ficalora has held increasingly responsible positions, crossing all lines of operations.  Prior to his appointment as president and chief executive officer of New York Community in 1994, Mr. Ficalora served as president and chief operating officer (beginning in October 1989); before that, he served as executive vice president, comptroller and secretary.

A graduate of Pace University with a degree in business and finance, Mr. Ficalora provides leadership to several professional banking organizations.  In addition to previously serving as a member of the Executive Committee and as chairman of the former Community Bankers Association of New York State, Mr. Ficalora is a director of the New York State Bankers Association and chairman of its Metropolitan Area Division.   Additionally, he is a member of the Board of Directors of the American Bankers Association.  He also serves on the Board of Directors of RSI Retirement Trust, Pentegra Services, Inc., and of Peter B. Cannell and Co., Inc., an investment advisory firm that became a subsidiary of New York Community in 2004.  Mr. Ficalora served as a member of the Board of Directors of the Thrift Institutions Advisory Council of the Federal Reserve Board in Washington, D.C., and also served as a member of the Thrift Institutions Advisory Panel of the Federal Reserve Bank of New York.  Mr. Ficalora has also previously served as a director of Computhrift Corporation, Chairman and board member of the New York Savings Bank Life Insurance Fund, President and Director of the MSB Fund and President and Director of the Asset Management Fund Large Cap Equity Institutional Fund, Inc. With respect to community activities, Mr. Ficalora has been a member of the Board of Directors of the Queens Chamber of Commerce since 1990 and a member of its Executive Committee since April 1992.  In addition, Mr. Ficalora is the past President of the Queens Borough Public Library and is currently the Chairman of the Administrative Committee of the Queens Borough Public Library.  He is President of the Queens Library Foundation Board, and serves on the Boards of Directors of the New York Hall of Science, New York Hospital-Queens, the Museum of the Moving Image, Flushing Cemetery, and on the Advisory Council of the Queens Museum of Art.

Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLB of New York currently serves over 330 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the Federal Home Loan Banks is to support the efforts of local members to help provide financing for America's homebuyers.

CONTACT: Eric Amig
(212) 441-6807
Brian Finnegan
(212) 441-6877

SOURCE Federal Home Loan Bank of New York