December 19, 2014
Contact: Eric Amig - (212) 441-6807
Brian Finnegan - (212) 441-6877
James W. Fulmer Elected Vice Chairman of the FHLBNY
New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) announced today that James W. Fulmer has been elected by its Board of Directors (“Board”) to serve as the Board’s vice chairman for a two year term beginning on January 1, 2015. Mr. Fulmer, who is the chairman of The Bank of Castile, has served on the Bank’s Board as a Member Director representing the interests of the FHLBNY’s members since January 1, 2007.
“The FHLBNY plays a vital role in providing needed liquidity to our 330 community lenders in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands,” said Mr. Fulmer. “It is a true honor to serve as vice chairman of the Board. I look forward to continuing to work with my fellow directors and the management to ensure that our cooperative remains a trusted and reliable partner to our members and the communities we all serve.”
“The FHLBNY has benefited enormously from Jim’s service on our Board,” said José R. González, president and CEO of the FHLBNY. “We look forward to further benefitting from his advice and guidance as Jim takes on a greater leadership role.”
Mr. Fulmer also serves as the chairman of the Corporate Governance Committee of the FHLBNY’s Board.
Mr. Fulmer has been a director of FHLBNY member The Bank of Castile since 1988, the chairman since 1992, chief executive officer since 1996, and president since 2002. Mr. Fulmer is also vice chairman of Tompkins Financial Corporation (“Tompkins Financial”), the parent company of The Bank of Castile, since 2007, and has served as a director of Tompkins Financial since 2000. Since 2001, he has served as chairman of the board of Tompkins Insurance Agencies, Inc., a subsidiary of Tompkins Financial. He is an active community leader, serving as a member of the board of directors of the Erie & Niagara Insurance Association, Cherry Valley Insurance Company, and United Memorial Medical Center. Mr. Fulmer is also a member of the board of directors and treasurer of WXXI Public Broadcasting Council. He is a member of the Federal Reserve Bank of New York Community Depository Advisory Council.
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 more than 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.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "projected," "expects," "may," or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.