The Federal Home Loan Bank of Indianapolis (“Bank”) today announced the results of its recent Board of Directors (“Board”) election. The Bank’s members re-elected the following individuals to serve as independent directors on the Board:
• Michael J. Hannigan, Jr., President, The Hannigan Company, LLC, a real estate and financial consulting company in Carmel, Indiana
• James L. Logue III, Senior Vice President and Chief Strategy Officer of Cinnaire Corp., formerly Great Lakes Capital Fund, a housing finance and development company in Lansing, Michigan
Mr. Hannigan and Mr. Logue will each serve four-year terms beginning January 1, 2018. The Bank previously announced that Larry W. Myers, President and Chief Executive Officer of First Savings Bank in Clarksville, Indiana, was, by law, deemed elected to the Board as a member director. He will also serve a four-year term beginning January 1, 2018. Mr. Myers was the only nominee for two open Indiana member director seats; the Board will vote to fill the remaining member directorship.
The Board is comprised of both member and independent directors. Annually, the Director of the Federal Housing Finance Agency determines the size of the Board and designates at least a majority, but no more than 60%, of the directorships as member directorships and the remainder as independent directorships. Independent directors are nominated by the Board after consultation with the Bank’s Affordable Housing Advisory Council and the Federal Housing Finance Agency.
Click here to see the full release.