FEDERAL HOME LOAN BANK OF CINCINNATI ANNOUNCES RESULTS OF DIRECTOR ELECTIONS

Lameier, Welty, Diaz and Stivers elected to four-year terms;
Rogers rejoins Board;
Vance re-elected vice chair

CINCINNATI, Nov. 30, 2023 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced the results of the FHLB's 2023 director elections. In this election, two Ohio Member Directors and two at-large Independent Directors were elected to the Board. From Ohio, Robert T. Lameier and Jonathan D. Welty were declared elected as Member Directors. Lewis Diaz, Covington, Ky., and Steven E. Stivers, Columbus, Ohio, were elected to serve as Independent Directors. All four directors will serve four-year terms commencing January 1, 2024, and expiring December 31, 2027. The Board appointed Kathleen A. Rogers to fill a vacant Ohio Member Director seat which expires December 31, 2025. The Board also re-elected James J. Vance as vice chair for a two-year term commencing January 1, 2024.

Robert T. Lameier is a Director at Miami Savings Bank, Miamitown, Ohio, where he previously served as President & CEO for 30 years. Mr. Lameier is former Chair of the Ohio Bankers League and the American Bankers Association FHLB Committee. He has served on the FHLB Board since 2016. 

Jonathan D. Welty is President, Ohio Capital Finance Corporation, Columbus, Ohio, a CDFI and the nonprofit lending affiliate of Ohio Capital Corporation for Housing where he also serves as Executive Vice President. During Mr. Welty's 25-year career he has focused on investor relations, capital raising, and product development. Mr. Welty has served on the FHLB Board since 2020.

Lewis Diaz is a Partner at Dinsmore & Shohl, LLP, Covington, Kentucky, where he has practiced as a public finance attorney since 2008, with a concentration on affordable housing and traditional government finance. He has served as an FHLB Independent Public Interest Director since 2022. 

Steven E. Stivers is President & CEO of the Ohio Chamber of Commerce, Columbus. Newly elected to the FHLB Board as an Independent Director, Mr. Stivers's public service career includes more than 10 years as the U.S. Representative of Ohio's 15^th Congressional District where he passed, or enacted through regulation, 22 laws including bills which helped veterans, homeowners, businesses and consumers. 

Kathleen A. Rogers is a Director of Fifth Third Bank, Cincinnati, Ohio. Ms. Rogers was appointed to complete the remainder of a vacant Ohio Member Director term, ending December 31, 2025, for which she had been elected prior to her retirement as Executive Vice President at U.S. Bank. During her 35-year career at U.S. Bank, she held various leadership positions, including Vice Chair and Chief Financial Officer. Ms. Rogers previously served on the FHLB Board from 2020 until June 2023.

James J. Vance is Senior Vice President and Co-Chief Investment Officer, Western-Southern Life Assurance Company, Cincinnati, Ohio. He manages the cash, corporate finance, capital markets and risk for Western & Southern Financial Group, a diverse Fortune 500 financial services company. Mr. Vance was reelected by the FHLB Board to serve as its Vice Chair, a position he has held since 2022. He has served on the FHLB Board since 2017.

About the FHLB

The FHLB is a AA+ rated wholesale cooperative bank owned by 610 member financial institutions, including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. The FHLB provides members access to products and services (primarily Advances, which are a readily available, low-cost source of funds, purchases of certain mortgage loans from members, and issuance of Letters of Credit to members) and a competitive return through quarterly dividends on their capital investment in the FHLB. The FHLB funds these products and services by raising private-sector capital from member-stockholders and, with the other Federal Home Loan Banks (FHLBanks) in the FHLBank System, issuing high-quality debt in the global capital markets. The FHLB also funds community investment programs that help its members create affordable housing and promote community economic development.

This news release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, the effects of economic market conditions on demand for the FHLB's products, legislative or regulatory developments concerning the FHLB System, competitive forces and other risks detailed from time to time in the FHLB's filings with the Securities and Exchange Commission. The forward-looking statements speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the FHLB undertakes no obligation to update any such statements.

SOURCE Federal Home Loan Bank of Cincinnati

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