INDIANAPOLIS, Nov. 1, 2007 (PRIME NEWSWIRE) -- In a release issued earlier today under the same headline, note that in the second paragraph, LaSalle Bank Midwest N.A. was mistakenly identified as LaSalle Bank N.A. The corrected release follows:
The Federal Home Loan Bank of Indianapolis (FHLBI) announced today the certified results of the election of directors to its Board of Directors for terms beginning January 1, 2008, and ending December 31, 2010.
Charles Crow, Chairman, President & CEO, Community Bank, Noblesville, IN, an incumbent director, was re-elected to the open seat representing the State of Indiana. Timothy P. Gaylord, President & CEO, Mason State Bank, Mason, MI, an incumbent, was re-elected to one of the open seats in the State of Michigan. Also elected to fill director seats in Michigan were John L. Skibski, EVP & CFO, Monroe Bank & Trust, Monroe, MI; James D. MacPhee, CEO, Kalamazoo County State Bank, Schoolcraft, MI; and Mark A. Hoppe, CEO, LaSalle Bank Midwest N.A., Troy, MI.
Mr. MacPhee and Mr. Hoppe hold non-guaranteed seats which can be eliminated by the Federal Housing Finance Board in the event that the total number of shares held by members in the State of Michigan fall below certain statutory levels. Michael H. Price, President & CEO, Mercantile Bank of Michigan, Grand Rapids, MI, and Ray D. Tooker, Sr. VP, Loan Administrator, Macatawa Bank, Holland, MI, did not seek re-election.
Safe Harbor Statement
This document contains forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, which are not statements of historical fact. The forward-looking statements contained in this release reflect our current beliefs and expectations. Actual results or performance may differ materially from what is expressed in the forward-looking statements. Readers are referred to the documents filed by us with the SEC, specifically reports on Form 10-K and Form 10-Q including risk factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov
The Federal Home Loan Bank of Indianapolis is one of 12 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for insured financial institutions, such as commercial banks, savings institutions, credit unions and insurance companies. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations.
The FHLBI promotes Building Partnerships, Serving Communities by serving as a wholesale source of funds for chartered financial institutions throughout Indiana and Michigan. For more information about the FHLBI, visit www.fhlbi.com.