The Federal Home Loan Bank of Indianapolis (“Bank”) today announced the results of the district-wide election of two independent directors to its Board of Directors (“Board”). The following individuals were elected to the Board and will each serve four-year terms beginning January 1, 2020.
- Robert D. Long, retired Certified Public Accountant, Indianapolis, Indiana
- Christine Coady Narayanan, President/CEO of Opportunity Resource Fund, Lansing, Michigan
The Bank previously announced that each of Brian D.J. Boike, EVP & Treasurer of Flagstar Bank, FSB, in Troy, Michigan, and Michael J. Manica, Vice Chairman and Director of United Bank of Michigan, Grand Rapids, Michigan, were by law, deemed elected to the Board as a member director. Each will also serve a four-year term beginning January 1, 2020. Mr. Boike and Mr. Manica were the only nominees for two open Michigan member director seats.
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.
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