NEW YORK, November 23, 2022 /PRNewswire/ — The Federal Home Loan Bank of New York (“FHLBNY”) today announced the results of the 2022 election for three positions on the FHLBNY Board of Directors (“Board”) whose terms will each begin on January 1st2023. The terms of all positions will run for four years, expiring on December 31, 2026.
The precise results of the election, which took place on November 17, 2022were the following:
- Mr. David J. Nasca was re-elected by FHLBNY elected officials New York members to act as director member representing New York. Mr. Nasca’s current term expires on December 31, 2022; he is currently vice-chair of the compensation and human resources committee of the board of directors and sits on its risk and technology committees. He is a director, president and chief executive officer of Evans Bank, NA
- Mr. David R Huber was re-elected and Ms. Melba I. Acosta was elected by eligible members of the FHLBNY district-wide to serve as independent directors. Mr. Huber’s current term expires on December 31, 2022; He is currently Chairman of the Audit Committee of the Board of Directors and sits on the Compensation and Human Resources and Risk Committees. Mr. Huber is the President of Huber Advisory Services. Ms. Acosta is an associate, Corporate Practice Group, for McConnell Valdés, LLC.
As previously announced, Mr. Christopher P. Martin was re-elected and Mr. Ira Robbins was elected to serve as member directors representing New Jersey. They were the only nominees for two open director seats from New Jersey members, and they accepted their nominations; as such, no formal electoral process was necessary. The terms of these positions will also be four years, beginning on January 1, 2023 and expiring on December 31, 2026. Mr. Martin’s current term expires on December 31, 2022; He is currently Chairman of the Corporate Governance and External Affairs Committee of the Board of Directors and sits on its Management, Audit and Compensation and Human Resources Committees. Mr. Martin is Executive Chairman of Provident Bank. Mr. Robbins is CEO and President of Valley National Bank.
“At FHLBNY, our Board of Directors is active, engaged and committed both to the mission of our cooperative and to the members and communities we serve,” said José R. González, President and CEO of the FHLBNY. “All of our directors understand and appreciate the vital role that FHLBNY and the Federal Home Loan Bank System play in the economies of our region and the country, and we are strengthened by their experience and insights. Directors Huber, Martin and Nasca have all have made significant contributions to our co-op as board members, and I know we will benefit from their continued service.I am also excited about the new expertise and perspectives that Ms. Acosta and Mr. Robbins will bring to our board. My colleagues and I look forward to continuing to work closely with our Board of Directors to grow our franchise and remain a trusted and dependable partner for our members.”
Federal Mortgage Bank of
The Federal Mortgage Bank of New York is a congressional chartered wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 shareholder-owned regional banks. From September 30, 2022FHLBNY serves 311 financial institutions in New Jersey, New York, Porto Rico, and the US Virgin Islands. The Federal Home Loan Banks supports the efforts of local members to help provide financing to US 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. Such statements are based on our current expectations and speak only as of the date hereof. These statements may use forward-looking words, such as “expected”, “expects”, “may”, or their negatives or other variations of these terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties that actual results could differ materially from those expressed or implied by such forward-looking statements or could affect the extent to which an objective, projection , an estimate, or the prediction is made. These forward-looking statements involve risks and uncertainties, including, but not limited to, the risk factors set forth in our annual reports on Form 10-K and our quarterly reports on Form 10-Q filed with the SEC, as well as such as regulations and accounting, rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in mortgage asset prepayment periods, the cost of our funding, changes in our membership profile, withdrawal of one or more significant members, competitive pressures, changes in demand for our products and general economic conditions. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly revise or update any forward-looking statements for any reason.
CONTACT: Brian Finnegan
SOURCE Federal Home Loan Bank of New York