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FEDERAL HOME LOAN BANK OF PITTSBURGH ANNOUNCES BOARD ELECTIONS AND APPOINTMENTS

 PITTSBURGH, Feb. 8 /PRNewswire/ -- Federal Home Loan Bank of Pittsburgh today announced the appointments of its chairman, vice chairman, and the election of four industry directors.
 James O. Pickard has been appointed chairman of the bank's board of directors for 1993 by the Federal Housing Finance Board. He has also been appointed to his fourth consecutive term as a public interest director, having served on the bank's board since 1983. Pickard is president and chief executive officer of York Saw & Knife Company in Emigsville, Pa.
 Ronald P. Crouch has been appointed the 1993 vice chairman of the board by the Finance Board. He has been an industry director since 1990 and has been re-elected by the bank's stockholders to serve his second consecutive two-year term. Crouch is president and chief executive officer of Ninth Ward Savings and Loan Association in Wilmington, Del.
 Charles H. Meacham was elected by the bank's board of directors to fill the unexpired term of a retired industry director. Meacham is chairman of the board and chief executive officer of Commonwealth Federal Savings Bank in Valley Forge, Pa.
 Three additional individuals have been re-elected by the bank's stockholders to serve as industry directors.
 Norman L. Keller has been re-elected to serve a third consecutive two-year term. Keller is president and chief executive officer of Pennview Savings Bank, in Souderton, Pa. He has served as a director since 1989.
 Harold R. Ossman, a director of the bank since 1989, was re-elected to his third consecutive two-year term. Ossman is president and chief executive officer of Hancock County Savings Bank, F.S.B., in Chester, W.Va.
 Jack W. Shader, a director since January 1991, has been re-elected to his second consecutive two-year term. Shader is president and chief executive officer of Harris Savings Bank in Harrisburg, Pa.
 The bank's 14-member board of directors consists of eight industry directors and six public interest directors. Industry directors are elected by the bank's stockholders for two-year terms. Public interest directors serve four-year terms and are appointed by the Federal Housing Finance Board, the bank's oversight agency located in Washington, D.C. Also appointed by the Finance Board are the chairman and vice chairman, who are designated for one-year terms.
 Federal Home Loan Bank of Pittsburgh is part of the Federal Home Loan Bank System, a national network of 12 regional, stockholder-owned banks created by the U.S. Congress in 1932 to promote home finance. The bank's economical funding and correspondent operating services are available to all financial institutions, including commercial banks, savings institutions, credit unions, and insurance companies. With assets of more than $10 billion, the Pittsburgh bank serves financial institutions in Delaware, Pennsylvania and West Virginia.
 -0- 2/8/93
 /CONTACT: Rosemary A. Abendroth of Federal Home Loan Bank of Pittsburgh, 412-288-2830/


CO: Federal Home Loan Bank of Pittsburgh ST: Pennsylvania, West Virginia, Delaware IN: FIN SU: PER

KC-DM -- PG006 -- 4087 02/08/93 11:55 EST
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Date:Feb 8, 1993
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