FOR IMMEDIATE RELEASE
ICBA Applauds Selection of Gilleran
New Seattle Federal Home Loan Bank Chief "Gutsy" Leader
Washington, D.C. (May 24, 2005) - Camden R. Fine, the president and CEO of the Independent Community Bankers of America (ICBA), issued the following statement today on the Federal Home Loan Bank of Seattle hiring former U.S. Office of Thrift Supervision (OTS) Director James E. Gilleran as its new president and chief executive:
ICBA applauds the selection of Jim Gilleran to direct the Federal Home Loan Bank of Seattle. Jim is a gutsy public official who sticks by his convictions and does not buckle from the pressure of others with different views. During his tenure with the OTS, he was a consistent champion of reducing regulatory burden, recognizing it is a critical issue for all community banks. Under his leadership, the OTS became the first federal agency to approve greater access to streamlined Community Reinvestment Act exams, spurring other federal regulatory agencies to take long delayed action. The FHLBank of Seattle needs Jim's strong leadership as it works through its current financial difficulties and rebuilds its financial strength. His extensive financial and regulatory expertise will serve the FHLBank and its members well.