HispanicBusiness

NEW YORK, Nov. 17 /PRNewswire/ -- The Federal Home Loan Bank of New York announced today that Jay M. Ford, Thomas M. O'Brien, and George Strayton were each reelected by the Bank's members to serve as Member Directors on the Board of Directors of the Bank commencing on January 1, 2009. The terms of Mr. Ford and Mr. O'Brien will each be for four years; Mr. Strayton's term will be for three years. (All of the Reelected Directors currently serve on the Board; their current terms expire on December 31, 2008.)

The three reelected directors are:

-- Jay M. Ford, President and CEO, Crest Savings Bank, Wildwood, NJ. Mr. Ford is currently serving as a member of the Board; his service began in June, 2008.

-- Thomas M. O'Brien, President and CEO, State Bank of Long Island, Jericho, NY. Mr. O'Brien is currently serving as a member of the Board; his service began in April, 2008.

-- George Strayton, President and CEO, Provident Bank, Montebello, NY. Mr. Strayton is currently serving as a member of the Board; his service began in June, 2006.

The FHLBNY is a Congressionally chartered, $130 billion, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The Federal Home Loan Bank of New York serves 307 community lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the Home Loan Bank is to advance housing opportunity and local community development by maximizing the capacity of community-based member-lenders to serve their markets.

SOURCE Federal Home Loan Bank of New York