November 29, 2011
Contact: Eric Amig - (212) 441-6807
Brian Finnegan - (212) 441-6877
John R. Buran Re-Elected to Board of Directors of the FHLBNY
New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) announced today that, on November 14, 2011, John R. Buran, president and chief executive officer of Flushing Financial Corporation, was re-elected by the FHLBNY’s New York State members to serve as a Member Director representing the interests of the FHLBNY’s New York membership beginning January 1, 2012. Mr. Buran’s term will run for four years, through December 31, 2015. Mr. Buran currently serves on the FHLBNY’s Board; his term expires on December 31, 2011.
“The Federal Home Loan Bank of New York continues to perform well because of our talented and committed employees and our knowledgeable and active Board,” said Alfred A. DelliBovi, president and CEO of the FHLBNY. “Our Board is comprised of leaders who drive economic growth and development in their communities. With the insight and support of Directors like John, the FHLBNY continues to provide a consistent, reliable source of funding to help meet the housing and job growth needs of those communities.”
John R. Buran stated, “I want to thank Al and the other members of the Federal Home Loan Bank of New York Board and the member banks for their support in my re-election. I appreciate their vote of confidence. I am proud to be a member of such a distinguished organization and look forward to continuing the work that we have underway to ensure growth and stability in New York's banking industry.”
Mr. Buran is a director, president and chief executive officer of Flushing Financial Corporation, holding company for FHLBNY members Flushing Savings Bank and Flushing Commercial Bank. He joined Flushing Savings Bank in 2001 as chief operating officer and became a director of the savings bank and holding company in 2003. In 2005, he was named president and chief executive officer of both the bank and the holding company.
Mr. Buran’s banking career began with Citibank in 1977, where he held a variety of management positions including business manager of Citibank’s retail distribution in Westchester, Long Island and Manhattan; and vice president in charge of Citibank’s Investment Sales Division. Mr. Buran left Citibank to become senior vice president, division head for Retail Services of NatWest Bank, and later executive vice president of Fleet Bank’s (now Bank of America) retail branch system in New York City, Long Island, Westchester and Southern Connecticut. He also spent time as a consultant and assistant to the president of Carver Federal Savings Bank, the nation’s largest minority controlled bank.
Mr. Buran serves on the Advisory Board of Neighborhood Housing Services of NYC. He is currently Chairman of the New York Bankers Association. He also serves on the Federal Reserve Bank of New York’s Community Depository Institutions Advisory Committee.
Mr. Buran received both his B.S. degree in Management and an MBA from New York University.
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.
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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.