At its November 18 meeting, the Board of Directors of the Federal Home Loan Bank of Cincinnati ratified the results of the 2010 Member and Independent Director Elections. All terms commence January 1, 2011 and end December 31, 2014. We are pleased to announce the election results.
Member director elections were held to fill one seat in Ohio and two seats in Tennessee. In Ohio, incumbent director James R. DeRoberts has been re-elected to serve his second term on the Board. In Tennessee, James A. England and William S. Stuard Jr. were newly elected to the Board.
In the at-large election of two Independent directors, incumbent directors Charles J. Koch and Carl F. Wick were elected to the Board. Both Mr. Koch and Mr. Wick received more than the minimum 20 percent of eligible votes and possess financial and management qualifications, in accordance with Federal Housing Finance Agency regulations. Neither seat is a Public Interest directorship.
MEMBER DIRECTOR ELECTION RESULTS
Ohio – 1 elected seat
Number of members eligible to vote:
311
Number of members voting:
180
Total eligible votes per candidate:
3,260,041
Actual votes cast
1,942,421
James R. DeRoberts Chairman and Chief Executive Officer The Arlington Bank, Upper Arlington, Ohio Total Votes: 1,518,321
Shon B. Myers Chairman, President, and Chief Executive Officer Farmers & Merchants Bank, Miamisburg, Ohio Total Votes: 421,950
Tennessee – 2 elected seats
Number of members eligible to vote:
206
Number of members voting:
139
Total eligible votes per candidate:
1,416,637
Actual votes cast
937,123
James A.England Chairman, President, and Chief Executive Officer Decatur County Bank, Decaturville, Tennessee Total Votes: 669,833
William S.Stuard Jr. President and Chief Executive Officer F&M Bank, Clarksville, Tennessee Total Votes: 443,847
George L. Atwood Chairman and Chief Executive Officer Farmers & Merchants Bank, Trezevant, Tennessee Total Votes: 317,159
Spencer A. Pratt Vice President, Business Development Leaders Credit Union, Jackson, Tennessee Total Votes: 139,107
R. Craig Holley Chairman, President, and Chief Financial Officer CapitalMark Bank, Chattanooga, Tennessee Total Votes: 129,130
INDEPENDENT DIRECTOR ELECTION RESULTS
Districtwide – 2 elected seats
Number of members eligible to vote:
735
Number of members voting:
337
Total eligible votes per candidate:
5,738,609
Actual votes cast
2,731,354
Charles J. Koch Principal/Owner, Lakehurst Associates Bratenahl, Ohio Total Votes: 2,527,646, or 44 percent of votes eligible to be cast
Carl F. Wick Principal and Owner, Wick and Associates Business Consulting Centerville, Ohio Total Votes: 2,433,404, or 42 percent of votes eligible to be cast
On behalf of the Board and staff, I would like to congratulate our new and returning Directors.
David H. Hehman
President and CEO
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