Seattle Bank Announces Appointments to Board of Directors.Daniel R. Fauske and Jack T. Riggs Reappointed to FHLBank's Board SEATTLE -- The Federal Home Loan Bank of Seattle (Seattle Bank) today announced the appointment of Daniel R. Fauske and Jack T. Riggs, M.D. to the Seattle Bank's Board of Directors, effective January 1, 2007. Mr. Fauske is chief executive officer and executive director of Alaska Housing Finance Corporation (AHFC AHFC American Honda Finance Corporation AHFC Adaptive High Frequency Controller ). Since he assumed that position in 1995, the organization has issued more than $6.0 billion in housing bonds and paid an annual dividend of approximately $100 million to the State of Alaska. Mr. Fauske also serves on the National Housing Development Corporation Board of Directors and the UAA UAA ochre codon, one of the three stop codons. School of Nursing Advisory Board. In addition, he has chaired the Alaska Interagency Council on Homelessness and served on the Fiscal Policy Council of Alaska and Fannie Mae's National Housing Impact Advisory Council. Prior to his career at AHFC, Mr. Fauske served as chief financial officer and chief administrative officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive for Alaska's North Slope North Slope, Alaska: see Alaska North Slope. Borough. A board-certified emergency medicine physician (retired) and former owner of an urgent-care medical practice serving northern Idaho, Dr. Riggs is the founder and a partner in North Idaho Medical Care Centers PLLC PLLC Professional Limited Liability Company PLLC Polk Life and Learning Center (Bartow, FL) PLLC Partners of Limited Liability Corporation and chief executive officer of Pita Pit The Pita Pit is a quick service restaurant franchise serving pita sandwiches. The first shop was opened by John Sotiriadis and Nelson Lang in 1995 near Queen’s University in Kingston, Ontario. In 1997, The Pita Pit started to expand in Canada. USA, Inc. In addition to his professional and entrepreneurial experience, Dr. Riggs served as an Idaho State Senator from 1996 to 2000 and as the state's Lieutenant Governor from 2001 to 2003. Dr. Riggs has also served on the Idaho State Board of Health and Welfare. Mr. Fauske and Dr. Riggs have served as appointed directors on the Seattle Bank's board for the past three years. Both were recently reappointed by the Federal Housing Finance Board Federal Housing Finance Board (FHFB) US government agency chartered in 1989 to assume the responsibilities formerly held by the Federal Home Loan Bank system. to fill previously vacant directorship positions that will expire on December 31, 2007. About the Seattle Bank The Federal Home Loan Bank of Seattle is a financial cooperative that provides liquidity, funding, and services to enhance the success of its members and support the availability of affordable homes and economic development in the communities they serve. Our funding and financial services enable over 375 member institutions to provide their customers with greater access to mortgages, commercial lending, and affordable housing. The Seattle Bank commits 10 percent of its annual profits to help fund affordable housing and homeownership. The Seattle Bank serves eight states, Guam, and the Northern Mariana Islands Northern Mariana Islands (märēä`nä), commonwealth associated with the United States (2005 est. pop. 80,400), c.185 sq mi (479 sq km), comprising 16 islands (6 inhabited) of the Marianas chain (all except Guam), in the W Pacific . Our members include commercial banks, credit unions, thrifts, industrial loan corporations, and insurance companies. The Seattle Bank is one of 12 Federal Home Loan Banks Federal Home Loan Banks The institutions that regulate and lend to savings and loan associations. The Federal Home Loan Banks play a role analogous to that played by the Federal Reserve Banks vis-à-vis member commercial banks. in the United States. Together, the Federal Home Loan Banks represent one of the country's largest private sources of liquidity and funding for community financial institutions, as well as funding for affordable housing. This press release includes forward-looking statements regarding events that may impact the bank's future financial performance. Forward-looking statements are subject to known and unknown risks and uncertainties, which are discussed in the Seattle Bank's audited 2005 financial statements and related footnotes and Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial for the year ended December 31, 2005, available on the Seattle Bank's Web site at www.fhlbsea.com. The Seattle Bank does not undertake to update any forward-looking statements made in this announcement. |
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