2021 Board of Directors Election in Process

The 2021 annual FHLB Directors Election cycle began June 21, with the Member Director nomination process and the Independent director application process. In this year’s election, eligible Kentucky Members will elect two Member Directors; Ohio Members will elect one Member Director; and all Kentucky, Ohio and Tennessee Members will elect one Independent Public Interest Director, at-large. Additional information including key dates, and links to regulatory requirements, a skills and experience statement, and an Independent Director application are provided below the listings of the FHLB’s current Board of Directors, Affordable Housing Advisory Council members and Senior Management.

Directors

J. Lynn Anderson (Chair), Public Interest Director
Retired Banking and Insurance Executive, Nationwide, Columbus, Ohio
Director, National Church Residences, Columbus, Ohio

Grady P. Appleton, Public Interest Director
Retired President & CEO, East Akron Neighborhood Development Corp., Akron, Ohio

April Miller Boise
Executive Vice President and General Counsel, Eaton Corp., Cleveland, Ohio

Brady T. Burt
Chief Financial Officer, Park National Bank, Newark, Ohio

Greg W. Caudill
Chief Executive Officer, Farmers National Bank, Danville, Ky.

Kristin H. Darby
Technology and Information Systems Consultant, Nashville, Tenn.

James A. England (Vice Chair)
Chairman, Decatur County Bank, Decaturville, Tenn.

Robert T. Lameier
President and CEO, Miami Savings Bank, Miamitown, Ohio

Donald J. Mullineaux 
Emeritus duPont Endowed Chair in Banking and Financial Services, University of Kentucky, Lexington, Ky.

Michael P. Pell
President and CEO, First State Bank, Winchester, Ohio

Kathleen A. Rogers
Executive Vice President, Director of Capital Stress Testing and Financial Systems of U.S. Bancorp and U.S. Bank, Cincinnati, Ohio

Charles J. Ruma
President, Davidson Phillips Inc., Columbus, Ohio

David E. Sartore
Executive Vice President and CFO, Field & Main Bank, Henderson, Ky.

William S. Stuard Jr.
President and CEO, F&M Bank, Clarksville, Tenn.

Nancy E. Uridil
Retired Global CPG Executive, Avon Lake, Ohio

James J. Vance
Senior Vice President and Co-Chief Investment Officer, The Western & Southern Financial Group, Cincinnati, Ohio

Jonathan D. Welty
President, Ohio Capital Finance Corp., Columbus, Ohio


 

Advisory Council

The Advisory Council helps to set the direction for the FHLB’s affordable housing and community lending programs by advising the Board of Directors and management on affordable housing and economic development needs within the Fifth District. Council members are nominated by member institutions, sponsors and community-based organizations. Council members are appointed by the Board. Council members serve staggered three-year terms, and no member may serve more than three consecutive terms. An exception applies to the state housing agency executives from each FHLB state who serve one three-year term on a rotating basis.

Read the Advisory Council's annual report here.

Walter B. Crouch
President and CEO, Appalachia Service Project, Johnson City, Tenn.

Stacey C. Epperson
President and CEO, Next Step Network Inc., Louisville, Ky.

Lori H. Flanery
Chief Executive Officer, New Directions Housing Corp., Louisville, Ky.

Natalie H. Harris (Vice Chair)
Executive Director, The Coalition for the Homeless Inc., Louisville, Ky.

Danny Herron 
President and CEO, Habitat for Humanity of Greater Nashville, Nashville, Tenn.

Cassie Hudson
Executive Director, Partnership Housing Inc., Booneville, Ky.

Charles D. Hillman
President and CEO, Columbus Metropolitan Housing Authority, Columbus, Ohio

Kenneth "Jay" Kittenbrink
Executive Director, Episcopal Retirement Services Inc., Cincinnati, Ohio

Debbie Watts Robinson (Chair)
Chief Executive Officer, Miami Valley Housing Opportunities, Dayton, Ohio

Amy Schaftlein
Executive Director, United Housing Inc., Memphis, Tenn.

Samantha A. Shuler
Chief Executive Director, Community Housing Network, Columbus, Ohio

Shawn Smith
Interim Executive Director, Ohio Housing Finance Agency (OHFA), Columbus, Ohio

Dwayne Spencer
President and CEO, Habitat for Humanity of Greater Memphis, Memphis, Tenn.


Senior Management

Andrew S. Howell
President and Chief Executive Officer

Roger B. Batsel
Executive Vice President, Chief Operating Officer

R. Kyle Lawler
Executive Vice President and Chief Business Officer

Stephen J. Sponaugle
Executive Vice President and Chief Financial Officer

Damon v. Allen
Senior Vice President and Community Investment Officer, Housing and Community Investment Services

J. Christopher Bates
Senior Vice President and Chief Accounting Officer

Jim J. Frondorf
Senior Vice President, Chief Credit Officer

Tami L. Hendrickson
Senior Vice President, Treasurer

Bridget C. Hoffman
Senior Vice President, General Counsel

Amy L. Konow
Senior Vice President, Chief Audit Executive 

Daniel A. Tully
Senior Vice President, Chief Risk and Compliance Officer


About our Board of Directors

The FHLB Board of Directors is comprised of 10 Member Directors and seven Independent Directors. Two of the Independent Directors have been designated by the board as Public Interest directors. The number of Independent Directors and the number of Member Directors for each state are determined annually by the Federal Housing Finance Agency. The number of Member Directors for each state is allocated based on the total amount of required FHLB stock held by Members in each state but this number is subject to a statutory minimum number of Member Directors for each state. Independent Directors must represent at least 40 percent of the full Board but less than 50 percent.

Currently, the FHLB has six Member Directors from Ohio and two each from Kentucky and Tennessee. Approximately one-fourth of Board seats are up for election each year. Eligible Members may vote for Director candidates in his or her state, and for all Independent Director candidates, at-large. The number of votes a Member may cast in a Director election is based on the amount of FHLB required stock (Membership stock and Activity stock) it was required to hold as of the previous year end. However, the number of votes any one Member may cast may not exceed the average amount of stock held by Members in its respective state. All Directors serve four-year terms and may serve a maximum of three consecutive terms.

Director Requirements

Member Directors are nominated and elected by Member institutions in his or her respective state. A Member Director nominee must be a U.S. citizen, an officer or director of a Member institution located in the state in which the open directorship election is being held, and the nominee’s institution must meet all minimum regulatory capital requirements. Any person nominated for a Member directorship who accepts the nomination must satisfy all Member Director qualifications. If the number of nominees does not exceed the number of open directorships in a state, the nominee(s) is declared elected and no formal election is held.

Independent Directors must be U.S. citizens and residents of the Fifth District. Independent Directors may not: be an officer or director of any member of the FHLB, a recipient of Advances from the FHLB subject to certain holding company exceptions, be an officer of any of the 11 FHLBs. Independent and Public Interest Director nominees must meet the qualification requirements in accordance with FHFA regulations and complete the FHFA Independent Director Application Form. Such individual must also have knowledge of, or experience in one or more of the following areas: auditing and accounting; derivatives; financial management; organizational management; project development; risk management practices; or the law. To be considered for a Public Interest Director designation, the individual must also have more than four years of experience in representing consumer or community interests on banking services, credit needs, housing, or financial consumer protections. The Board reviews all Independent Director applications and nominates the individual(s) for election by the membership.

Director eligibility requirements may be found at 12 C.F.R §1261 Subpart B. All Member Director nominees and Independent Director applicants are subject to background checks.

In addition to the statutory and regulatory requirements, the Board of Directors prepared a statement of desired skills, experiences, attributes and characteristics that represent guidelines for individuals considering service with the FHLB Board. You may access that statement here.

Commitment to Diversity and Inclusion

The FHLB strongly promotes diversity and inclusion on its Board. We encourage all Member institutions to consider the importance of diversity on our board when nominating individuals to run as Member directors. The FHLB supports this same diversity goal in the selection process of Independent directors.

Director Election Key Dates

In June each year, the FHFA informs the FHLB of the number of total directorships it has authorized for the following year and the open Member and Independent director seats to be elected in that same year. Shortly after this FHFA communication, the FHLB announces to its members the details of the upcoming director election including the number of open Member director seats by state and the number of open Independent or Public Interest director seats. Nomination instructions and deadlines are also provided to members. Upon completion of the nomination process, voting commences in October and the board ratifies election results at its November meeting. Elected directors begin their new terms the following calendar year. For the 2021 Director Election cycle, Member director nominations closed July 26, and Independent director applications have been extended to August 6. Voting will begin October 8 and conclude November 10. The Board will ratify the results November 18, 2021.

Board Meetings and Committees

The Board meets in-person seven times during the year and, as needed, by teleconference call. Board committees meet either the day before or the morning of Board meetings. Generally, Board meetings are held in Cincinnati with the exception of the meeting held in conjunction with the annual strategic planning conference, which may be held out of district.

There are currently seven committees of the board:

  • Audit
  • Business & Operations
  • Risk
  • Governance
  • Housing & Community Development
  • Human Resources, Compensation & Inclusion
  • Executive

The Board chair appoints the chair and members of each committee. All Directors are assigned to at least one committee. The Board chair and vice chair are elected by a majority of Directors and serve two-year terms.