Press Releases

November 6, 2013

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

FHLBNY Announces Results of 2013 Board of Director Elections

New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) announced today the results of the 2013 election for six positions on the FHLBNY’s Board of Directors whose terms will each commence on January 1, 2014. Five of the six terms will run for four years, expiring on December 31, 2017, and one term will run for three years, expiring on December 31, 2016.

“The continued success of the Federal Home Loan Bank of New York is a testament to the value of an active and involved Board of Directors,” said Alfred A. DelliBovi, president and CEO of the FHLBNY. “Our Directors are leaders in the fields of community banking, economic growth and community development, and their expertise strengthens our cooperative. The guidance our Board provides helps the FHLBNY to remain a consistent and reliable source of funding to help meet the needs of the communities we all serve.”

  • The specific results of the election, which took place on November 4, 2013, are as follows:
  • Michael M. Horn was re-elected and Larry E. Thompson was elected by the FHLBNY’s eligible members to serve as Independent Directors. Both terms will run for four years. Mr. Horn is a partner in the law firm of McCarter & English, LLP, and currently serves on the FHLBNY’s Board as its chairman; his current term expires on December 31, 2013. Mr. Thompson is managing director and general counsel of The Depository Trust and Clearing Corporation.
  • Gerald H. Lipkin was elected by the FHLBNY’s New Jersey members to serve as a Member Director representing New Jersey. His term will run for four years. Mr. Lipkin is chairman, president and chief executive officer of Valley National Bank.
  • James W. Fulmer was re-elected and Monte N. Redman was elected by the FHLBNY’s New York State members to serve as Member Directors representing New York. Mr. Fulmer’s term will run for four years, and Mr. Redman’s term will run for three years. Mr. Fulmer is chairman, president and chief executive officer of The Bank of Castile, and currently serves on the FHLBNY’s Board; his current term expires on December 31, 2013. Mr. Redman is president and chief executive officer of both Astoria Federal Savings and Loan Association and its holding company, Astoria Financial Corporation.
  • Carlos J. Vázquez was elected by the FHLBNY’s Puerto Rico and U.S. Virgin Islands members to serve as a Member Director representing Puerto Rico and the U.S. Virgin Islands. His term will run for four years. Mr. Vázquez is chief financial officer and executive vice president of Popular Inc. and senior executive vice president of Banco Popular de Puerto Rico. He also serves as president of Banco Popular North America.

Biographical information provided by each of the Directors elected in 2013 to serve on the Board commencing on January 1, 2014 can be viewed here.

 

About the 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 11 regional, stockholder-owned banks. As of March 31, 2018, the FHLB of New York serves 325 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.


# # #

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.

Related Links

1Q18 Dividend Announcement

Investor Relations

Member Resource Center

Latest Releases

6/29/2018
Federal Home Loan Bank of New York
Commences 2018 Board of Directors Election Process

4/26/2018
Federal Home Loan Bank of New York
Announces First Quarter 2018 Operating Highlights

2/21/2018
Federal Home Loan Bank of New York
Announces Fourth Quarter 2017 Operating Highlights

Stay Connected

Sign up to receive rss or email updates from us.

x