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FOR IMMEDIATE RELEASE
ICBA Names Bankers to FHLB Task Force
FHLB System Owners Participate in Future-Oriented Discussions
Washington, D.C. (Oct. 17, 2007)—The Independent Community Bankers of America (ICBA) announced it has named member bankers from each of the 12 FHLB districts and a representative from ICBA's state/regional partners bankers to serve on ICBA's Federal Home Loan Bank Task Force.
"The Federal Home Loan Banks are an enormously important source of liquidity to ICBA's community bank members," said James P. Ghiglieri, Jr., ICBA chairman and president of Alpha Financial Group, Inc. "Given the evolution of the banking system and capital markets, the ICBA Federal Home Loan Task Force is the perfect conduit for community banks to discuss new ideas and how best the FHLBanks can serve the needs of its member institutions today and tomorrow."
Key emerging issues for the FHLBanks are membership and organizational changes to the FHLBank System. Large users of FHLBank advances are merging or leaving the System, and can move between the international capital markets and the system to meet their financing needs. Meanwhile, community banks, mutual banks, savings institutions daily depend on advances for liquidity and asset liability management to keep them competitive.
ICBA places a high value on the regional structure and cooperative nature of the Federal Home Loan Bank System as it best addresses the diverse needs of community banking members. Currently, some FHLBanks have been looking at ways to become more efficient through structural or operational changes.
"ICBA members want to play an active role in determining the future of the FHLBank System and the task force delves into the issues to help prepare for the future," Ghiglieri said.
Dale J. Torpey, president & CEO, Federation Bank, Washington, Iowa, and former chairman of the FHLBank of Des Moines serves as chairman of the task force.
Other members named to the task force are:
- Cindy Blankenship, Vice Chairman/COO, Bank of the West, Irving, Tex.
- Greg Deckard, President/CEO, State Bank Northwest, Spokane, Wash.
- Jack Dickey, Vice President, Southwest National Bank, Weatherford, Okla.
- Charles Harper, Chairman/President, The Commercial Bank of Ozark, Ala.
- Betsy Hudson, President, Bank of Benton, Ky.
- Dave Kaiser, President, Granite Community Bank, Granite Bay, Calif.
- John O'Connor, President/CEO, South Coastal Bank, Rockland, Mass.
- Raymond O'Conor, President, Saratoga National Bank & Trust Co., Saratoga Springs, N.Y.
- Joe Pierce, President, Farmers State Bank, Lagrange, Ind.
- Frank Pinto, President/CEO, Pennsylvania Association of Community Bankers, Harrisburg, Pa.
- Sam Scott, President, Scott State Bank, Bethany, Ill.
- Tim Zimmerman, President/CEO, Standard Bank, Monroeville, Pa.