Indiana civic leader Dan Moore has been elected Chair of the Washington, D.C.-based Council of Federal Home Loan Banks (Council of FHLBanks). Moore currently serves as Chair of Home Bank in Martinsville, Ind., and as Chair of the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis). Moore assumed the position of Chair of the Council of FHLBanks on Jan. 1, 2022.
“The Council will benefit from Dan’s experience as a community banker and his thoughtful, collaborative approach to leadership,” said Cindy Konich, President and Chief Executive Officer of FHLBank Indianapolis. “Dan’s work at Home Bank is a perfect example of the critical role community bankers play in encouraging economic opportunity and vitality in the cities, towns and rural areas they serve.”
Moore joined Home Bank in 1978 and has since served in a variety of roles at the bank, including executive vice president, chief operating officer, chief executive officer and president. He holds an appointed position on the Mutual Institution Advisory Board of the Office of the Comptroller of the Currency and sits on the boards of Hoosier Voices for I-69 and Stability First. Moore is a graduate of Indiana State University and holds an MS in management from Indiana Wesleyan University. He joined the Board of FHLBank Indianapolis in 2011 and was elected chair in 2019.
The Council of FHLBanks serves as the voice of the FHLBank System. Incorporated in 1998, the non-profit trade association represents the positions and views of Council members to Washington policymakers, regulators, the news media and the financial services industry. The Council Board consists of director and officer representatives of the 11 FHLBanks.
The FHLBank System was created by the Federal Home Loan Bank Act of 1932 as a government sponsored enterprise to support mortgage lending and community investment. The System is composed of 11 regional banks which are privately capitalized and owned as cooperatives by their members. Their regional distribution enables each bank to focus on the distinct needs of their individual communities.
While only financial institutions may belong to an FHLBank, people everywhere benefit from them. Each year, the FHLBanks provide access to billions of dollars in low-cost funding to nearly 6,000 (or 80%) of America’s banks, credit unions, insurance companies and community development financial institutions.
Under the Federal Home Loan Bank Act, FHLBanks contribute 10% of their net income to affordable housing through the Affordable Housing Program (AHP). The AHP supports affordable housing for households with incomes at or below 80% of the area median income, including seniors, families with young children, the homeless, persons with disabilities and veterans. In 2020, the FHLBanks contributed nearly $400 million towards affordable housing. This funding supported 41,511 housing units across more than $6.5 billion of project development cost.
Questions? Contact Steve Walsh, Senior Business Communications Lead.
About Home Bank
Home Bank was chartered in 1890 as a mutual institution which essentially means that it is owned by its depositors. Without private ownership or stockholders, the bank’s profits are allocated entirely to its capital reserves, resulting in greater fiscal strength and resources for community support. Home Bank strives to lead by example in building a legacy of giving back to the communities served. In 2012, Home Bank’s board of directors and leadership team created a gifting program where 10% of the bank’s profits were to be allocated to support worthwhile projects addressing the greatest needs in the communities served. Through this program, Home Bank has challenged others in the community to think like-mindedly when it comes to giving back to the communities. Home Bank plans to continue this philosophy with the hopes of being able to make a greater impact in the years to come.
Building Partnerships. Serving Communities.
The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) is a regional bank included in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members' customers. FHLBanks are privately capitalized and funded and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, which include commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com and follow the Bank on LinkedIn and Twitter @FHLBankIndy.