Federal Home Loan Bank of Chicago announces reelection of local director

Oct 25, 2016 11:17 AM

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James T. Ashworth CARLINVILLE - The Federal Home Loan Bank of Chicago (FHLBC) has announced that two of its incumbent directors have been declared directors-elect to serve as member directors for additional four-year terms beginning 1/1/17 and ending 12/31/20.

James T. Ashworth of CNB Bank & Trust, Carlinville, has served on the FHLBC board since elected by membership in 2012. Michelle L. Gross of the State Bank of Bement was initially appointed to the board earlier in 2016 to complete the unexpired term of a resigning director. Both directors were unopposed in the recent election process.

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Ashworth currently serves as chairman of FHLBC’s Affordable Housing Committee, and as vice-chairman of its Human Resources and Compensation Committee. Gross serves on FHLBC’s Operations and Technology Committee and its Risk Management Committee.

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The Federal Home Loan Bank of Chicago is one of eleven FHLB’s in the USA. It is cooperatively owned by its 754 member banks, credit unions, and insurance companies, with a service area covering Illinois and Wisconsin. The mission of the FHLB system is to provide liquidity for its members through loan advances, and to support the country’s housing market and economic development through its community investment programs.

The board of directors at FHLBC is comprised of ten member-directors, six of whom are from Illinois institutions, and four from Wisconsin; and eight independent directors from organizations that support the nation’s housing industry. The FHLBC reports total assets of $76.8 billion at 8/31/16.

CNB Bank & Trust has 13 locations to serve its customers: Alton, Brighton, Carlinville, Carrollton, Clayton-MO, Hillsboro, Jacksonville, Jerseyville, Oak Forest, Palos Heights, Pittsfield, Shipman, and Taylorville. In addition to a wide variety of traditional banking services, CNB also offers farm management, investment, and trust services. For more information about CNB and its unique community-centered approach to banking, visit www.cnbil.com.