NEW YORK, July 15, 2024 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of New York (“FHLBNY”) is pleased to announce that its Board of Directors has selected José Rafael Fernández, Steven M. Klein and William J. Turner, Jr. to serve as members of the Board. Each fills the remaining term of a Member Director seat left vacant by the retirements of previous Directors.
“Mr. Fernández, Mr. Klein and Mr. Turner will make outstanding additions to our Board, and the expertise and insights they bring to their new roles will benefit our entire cooperative,” said Larry E. Thompson, chairman of the FHLBNY. “I speak on behalf of all my fellow Directors when I welcome our three newest members to the Board, and look forward to working together to help further the positive impact the FHLBNY has on its member institutions and the communities we all serve.”
Mr. Fernández is the chairman, president and CEO of Oriental Bank, and has been selected to serve as a Member Director representing Puerto Rico and the U.S. Virgin Islands members. His current term will run through December 31, 2025.
Mr. Klein is the chairman, president and CEO of Northfield Bank, and has been selected to serve as a Member Director representing New York members. His current term will run through December 31, 2024.
Mr. Turner is senior vice president of Metropolitan Life Insurance Company, and has been selected to serve as a Member Director representing New York members. His current term will run through December 31, 2025.
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 March 31, 2024, the FHLBNY serves 336 member institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The FHLBNY’s mission is to provide members with reliable liquidity in support of housing and local community development.
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, the Risk Factors set forth in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC, as well as 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. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to revise or update publicly any forward-looking statements for any reason.
CONTACT: Brian Finnegan
(212) 441-6877
brian.finnegan@fhlbny.com
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