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Chairpersons

FHLBank Indianapolis Announces Election of New Directors

Strategic Insights

— 1 min read

FHLBank Indianapolis has announced the results of the election of two Indiana Member Directors and two Independent Directors to its Board of Directors, each serving four-year terms beginning Jan. 1, 2026. The Indiana Member Directors are Daniel Maddox, chairman and CEO of Citizens State Bank of New Castle, and Larry W. Myers, president and CEO of First Savings Bank. The Independent Directors are Michael E. Bosway, financial services executive, and Perry G. Hines, president and CEO of Wheeler Mission. The election is a significant step in shaping the future of the Bank, which plays a crucial role in providing access to low-cost funding for its member financial institutions in Indiana and Michigan.

Key Takeaways:

  • Daniel Maddox, chairman and CEO of Citizens State Bank of New Castle, was re-elected as an Indiana Member Director, bringing his expertise in banking and community development to the Board.
  • Larry W. Myers, president and CEO of First Savings Bank, was also re-elected as an Indiana Member Director, contributing his experience in the financial services industry to the Board.
  • Michael E. Bosway, financial services executive, was elected as an Independent Director, bringing his knowledge of investments and banking to the Board. Bosway previously served as managing director of investments for the Central Great Lakes Division at Stifel Nicolaus & Company.
  • Perry G. Hines, president and CEO of Wheeler Mission, was elected as an Independent Director, contributing his expertise in non-profit management and community development to the Board.
  • The election process for the Board involves consultation with the Bank's Affordable Housing Advisory Council and the Federal Housing Finance Agency, ensuring that the Board represents the interests of the Bank's members and the communities they serve.
  • FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System, with a mission to provide access to low-cost funding for its member institutions, with a focus on supporting the housing and small business needs of customers.

Statistics:

  • 2 Indiana Member Directors and 2 Independent Directors were elected to the Board of Directors.
  • The election takes effect on Jan. 1, 2026, and each Director will serve a four-year term.
  • The Board of Directors is responsible for setting the overall direction and strategy of FHLBank Indianapolis, with a focus on providing access to low-cost funding and supporting the housing and small business needs of members' customers.

Sources:

  • (GLOBE NEWSWIRE)

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