NEW YORK, Dec. 6, 2018 /PRNewswire/ — The Federal Home Loan Bank of New York (“FHLBNY”) is pleased to announce that its Board of Directors has selected Stephen S. Romaine, chairman of Tompkins Trust Company, and Charles E. Kilbourne, III, managing director of the Financial Services Volunteer Corps, to serve as Directors for terms that will each commence on January 1, 2019 and expire on December 31, 2020. Mr. Romaine fills the New York Member seat left vacant by Monte N. Redman, who left the Board in May 2018. Mr. Kilbourne fills the Independent Director seat left vacant by Edwin C. Reed, who left the Board in September 2018. In addition to serving as an Independent Director, Mr. Kilbourne will also serve as a Public Interest Director.
“Mr. Romaine and Mr. Kilbourne will make outstanding additions to our Board,” said John R. Buran, chairman of the FHLBNY. “Mr. Romaine brings vast knowledge of the banking needs of upstate New York, as well as a strong understanding of the vital partnership between the FHLBNY and its members. Mr. Kilbourne’s strong housing and public service experience will help ensure the FHLBNY continues to serve its mission. I look forward to the contributions both of my new colleagues will bring to the Board and our cooperative.”
Mr. Romaine serves as chairman of Tompkins Trust Company, and as president and CEO of Tompkins Financial Corporation. He also serves on the boards of Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST Bank, Tompkins Insurance Agencies, Inc. and TFA Management, Inc. He is also a board member and past chairman of the New York Bankers Association of New York State. Mr. Kilbourne serves as managing director of the Financial Services Volunteer Corps. He previously served as senior advisor to the Commissioner of the New York State Division of Housing and Community Renewal. He also serves as a trustee of The Wright Family Foundation.
Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of September 30, 2018, the FHLBNY serves 326 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected,” “expects,” “may,” or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE Federal Home Loan Bank of New York