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Chairpersons

FHLBank Indianapolis Announces Election of New Board Members

Strategic Insights

— 2 min read

The Federal Home Loan Bank of Indianapolis has announced the results of the election of two Indiana Member Directors and two Independent Directors to its Board of Directors. The new Board members will serve four-year terms beginning January 1, 2026. The Indiana Member Directors elected were J. Daniel Maddox, chairman and CEO of Citizens State Bank of New Castle, and Larry W. Myers, president and CEO of First Savings Bank. Both men have extensive experience in the banking industry and have held various leadership positions in their respective organizations. The Independent Directors elected were Michael E. Bosway, a financial services executive, and Perry G. Hines, president and CEO of Wheeler Mission. Bosway brings a wealth of experience in investments and financial services, having served as managing director of investments for the Central Great Lakes Division of Stifel Nicolaus & Company. Hines has a strong background in business and non-profit management, having served as chief development officer at Wheeler Mission. The election of these new Board members is a significant development for the Bank, as it seeks to maintain its commitment to providing access to low-cost funding for its member financial institutions and supporting the housing and small business needs of their customers.

Key Takeaways:

  • J. Daniel Maddox, chairman and CEO of Citizens State Bank of New Castle, was elected as an Indiana Member Director, bringing his experience as chief operating officer and board member of the Indiana Bankers Association.
  • Larry W. Myers, president and CEO of First Savings Bank, was also elected as an Indiana Member Director, with experience as chief operating officer and Board Vice Chair.
  • Michael E. Bosway, a financial services executive, was elected as an Independent Director, with a background in investments and financial services, including managing director of investments for the Central Great Lakes Division of Stifel Nicolaus & Company.
  • Perry G. Hines, president and CEO of Wheeler Mission, was elected as an Independent Director, with experience in business and non-profit management, including chief development officer at Wheeler Mission.
  • The new Board members will serve four-year terms beginning January 1, 2026, as designated by the Director of the Federal Housing Finance Agency.
  • The Federal Home Loan Bank of Indianapolis is a regional bank in the Federal Home Loan Bank System, providing access to low-cost funding for member financial institutions.
  • The Bank is committed to supporting the housing and small business needs of its customers, with a focus on low-income and minority communities.

Statistics:

  • The Federal Home Loan Bank of Indianapolis has 116 member financial institutions in its network, spanning Indiana and Michigan.
  • The Bank has $67.9 billion in assets, with a membership that includes commercial banks, credit unions, insurance companies, savings institutions, and community development financial institutions.
  • The Bank's Board of Directors is composed of 11 members, with at least a majority, but no more than 60%, of the directorships designated as member directorships.
  • Independent Directors are nominated by the Board after consultation with the Bank's Affordable Housing Advisory Council and the Federal Housing Finance Agency.

Sources:

  • Federal Home Loan Bank of Indianapolis. "Bank Announces Election of New Board Members." GlobeNewswire, 2025.
  • FHLBank Indianapolis. "About Us." FHLBank Indianapolis, 2025.
  • Federal Housing Finance Agency. "About the Federal Housing Finance Agency." Federal Housing Finance Agency, 2025.

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