Federal Home Loan Bank of Cincinnati Announces New Directors and Leadership for 2024

The Federal Home Loan Bank of Cincinnati (FHLB) has ushered in a new era of governance following the recent director elections, announcing results that will shape its leadership for the next four years. On December 11, 2024, the FHLB revealed the results of its elections, signaling a strategic shift with the introduction of key personnel into its Board of Directors.

Director Elections Results

In this year's elections, two Ohio Member Directors and two Independent Directors from outside the state were selected. Brady T. Burt and James J. Vance, both from Ohio, will serve as Member Directors, while Susan E. Collins from Apison, Tennessee, and Kristin H. Darby from Nashville, Tennessee, were elected as Independent Directors. All four individuals are set to commence their four-year terms on January 1, 2025, which will run until December 31, 2028.

New Board Leadership

Furthermore, the FHLB announced appointments for the board leadership positions. Nancy E. Uridil will step into the role of Chair, serving an initial two-year term from January 1, 2025, to December 31, 2026. Meanwhile, Michael P. Pell will assume the Vice Chair position, effectively filling a vacancy starting December 2, 2024, through the end of 2025.

Profiles of the Newly Elected Directors

Brady T. Burt serves as the Chief Financial Officer, Secretary, and Treasurer of Park National Corp., and has been a Director on the FHLB Board since 2017, now chairing its Audit Committee.

James J. Vance holds the position of Senior Vice President for Western-Southern Life Assurance Co. He has been on the FHLB Board since 2017 and served as its Vice Chair from January 2022 until November 2024.

Susan E. Collins, the newly elected Independent Director, recently retired from her role as Executive Vice President and Chief Human Resources Officer at the Tennessee Valley Authority. She brings her extensive experience and resides in Apison, Tennessee.

Kristin H. Darby works as Chief Information Officer for HarmonyCares in Nashville, Tennessee. She has been an Independent Director since 2021 and currently chairs the Business and Operations Committee for the FHLB.

Nancy E. Uridil, who will serve as board chair, is a retired global consumer packaged goods executive based in Avon Lake, Ohio. Additionally, she has served on the FHLB Board as an Independent Director since 2015.

Michael P. Pell, the new vice chair, is the President and CEO of First State Bank in Winchester, Ohio and has been an Ohio Member Director since 2019.

About the FHLB

The Federal Home Loan Bank of Cincinnati is an AA+ rated wholesale cooperative bank comprised of 609 member financial institutions across Kentucky, Ohio, and Tennessee. The FHLB plays a pivotal role by providing its members with access to crucial financial products and services, including low-cost funding and community investments that promote affordable housing and economic development. Its actions not only support financial institutions but also significantly contribute to local communities.

This board restructuring comes at a time when the FHLB aims to enhance its impact on the financial sector and the communities it serves while navigating the complex economic landscape. As the newly elected board members embark on their tenures, their leadership will be crucial in steering the organization toward its future objectives.