Exhibit 99.1
November 14, 2018
VIA EMAIL
TO: Member Institutions in Illinois and Wisconsin
RE: Results of 2018 Election of Federal Home Loan Bank of Chicago
Member and Independent Directors
The Federal Home Loan Bank of Chicago is pleased to announce the results of the 2018 election of Federal Home Loan Bank of Chicago member and independent directors for member institutions in Illinois and Wisconsin. The directors’ terms will begin on January 1, 2019.
MEMBER DIRECTORS
Illinois – Two Member Directors
|
| |
| Number of Members Eligible to Vote | 466 |
| Number of Members Casting Votes | 260 |
| Total Eligible Votes for Each Directorship | 3,102,759 |
|
| | |
| | | Votes Received |
Pirsein, David R. President and CEO Term Expires: December 31, 2022 (Four year term)
| First National Bank of Pinckneyville Pinckneyville, Illinois | 1,190,705 |
Steelman, Michael G. Chairman of the Board and CEO Term Expires: December 31, 2022 (Four year term)
| Farmers and Merchants State Bank of Bushnell Bushnell, Illinois | 1,371,494 |
Wisconsin – One Member Director
|
| |
| Number of Members Eligible to Vote | 253 |
| Number of Members Casting Votes | 169 |
| Total Eligible Votes for Each Directorship | 1,273,225 |
|
| | |
| | | Votes Received |
Taylor, Ty R. President & Chief Executive Officer Term Expires: December 31, 2022 (Four year term) | Waukesha State Bank Waukesha, Wisconsin | 424,866 |
* * * *
INDEPENDENT DIRECTOR
|
| |
| Number of Members Eligible to Vote | 719 |
| Number of Members Casting Votes | 358 |
| Total Eligible Votes for Each Directorship | 4,375,984 |
PUBLIC INTEREST INDEPENDENT DIRECTOR
|
| | |
| | | Votes Received
|
Ries, Leo J. Interim Executive Director Term Expires: December 31, 2022 (Four year term) | Martin Luther King Economic Development Corporation Milwaukee, Wisconsin | 2,319,682 |
Enclosed for your information is a complete list of the voting results for the Seventh District. Thank you for participating in this year's election process. Your contribution ensures sound representation on our Board of Directors for the mutual benefit of the Bank and its member-stockholders.
Sincerely,
/s/ Laura Turnquest
Executive Vice President,
General Counsel &
Corporate Secretary
Enclosure
FEDERAL HOME LOAN BANK OF CHICAGO
RESULTS OF THE 2018 ELECTION OF MEMBER & INDEPENDENT DIRECTORS
ILLINOIS – MEMBER DIRECTOR RESULTS
|
| | | | |
| NAME | VOTES | FHFA ID | INSTITUTION | CITY
|
| Hemmer, Gary D. | 713,158 | 12492 | First National Bank of Waterloo | Waterloo |
| Pirsein, David R.* | 1,190,705 | 14569 | First National Bank of Pinckneyville
| Pinckneyville |
| Steelman, Michael G.* | 1,371,494 | 13394 | Farmers and Merchants State Bank of Bushnell | Bushnell |
| Total Number of Votes Cast | 3,275,357 | | | |
WISCONSIN – MEMBER DIRECTOR RESULTS
|
| | | | |
| NAME | VOTES | FHFA ID | INSTITUTION | CITY
|
| Adamski, Paul C. | 276,858 | 14789 | The Pineries Bank | Stevens Point |
| Rokke, Bruce W. | 174,765 | 3894 | KeySavings Bank | Wisconsin Rapids |
| Taylor, Ty R.* | 424,866 | 17663 | Waukesha State Bank | Waukesha |
| | | | | |
| Total Number of Votes Cast | 876,489 | | | |
INDEPENDENT DIRECTOR RESULTS
|
| | | |
| NAME | VOTES | COMPANY | CITY
|
| Ries, Leo J.* | 2,319,682 | Martin Luther King Economic Development Corporation | Milwaukee, WI |
* Elected to serve on the Board of Directors of the Federal Home Loan Bank of Chicago.
FEDERAL HOME LOAN BANK OF CHICAGO
2018 INDEPENDENT DIRECTOR ELECTION
SUMMARY OF QUALIFICATIONS
PUBLIC INTEREST INDEPENDENT DIRECTOR
RIES, LEO J.
Interim Executive Director
Martin Luther King Economic Development Corporation
Leo J. Ries is currently serving as Interim Executive Director for the Martin Luther King Economic Development Corporation ("MLKEDC") which, since 1993 has been working to improve conditions in the Harambee community, a low-income neighborhood in the City of Milwaukee. Since it's founding, MLKEDC has developed, and currently owns and manages, a portfolio of affordable housing, plus retail and office space, with a total development cost of over $60 million.
Mr. Ries also serves as the manager of a revolving loan fund that is operated by the Wisconsin Preservation Fund ("WPF"). WPF is a Wisconsin based, nonprofit corporation, founded in 1989 for the purpose of promoting neighborhood revitalization, expanding the availability of affordable housing and preserving Wisconsin's architectural heritage through the preservation of historic buildings.
Previously, for 15 years, Leo was the Executive Director of the Milwaukee Office of Local Initiatives Support Corporation (LISC). LISC is a national nonprofit with offices in 30 cities and its mission is to transform distressed urban neighborhoods into healthy communities of choice and opportunity, by mobilizing corporate, government, and philanthropic resources on behalf of local neighborhoods. LISC provides loans, grants and equity investments, policy support, and the technical and management assistance that neighborhoods need to achieve their goals. Prior to his tenure at LISC, he was Director of the Housing and Neighborhood Development for the City of Milwaukee from 1992 to 1998. He served as the Director of the Community Block Grant Administration for the City of Milwaukee from 1990 to 1992.
Mr. Ries currently serves, in a voluntary capacity, on the Board of Directors for Near West Side Partners, Inc., Lead2Change, Inc., the Wisconsin Board of Directors for CommonBond Communities, Inc. and the Advisory Council for First-Ring Industrial Redevelopment Enterprise, Inc.
