FHLB of Cincinnati Marks Another Housing Exit

Make room for another departure from the federal housing community.

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On Friday the ""Federal Home Loan Bank of Cincinnati"":https://web.fhlbcin.com/Pages/fhlbcin.aspx announced that president and CEO David Hehman planned to retire, concluding a career he started with the institution in 1977.

""On behalf of the Board, I commend Mr. Hehman's extraordinary commitment to the FHLBank through 34 years of service including nearly 30 years of executive leadership,"" Carl Wick, chairman of the FHLBank board, said in a statement.

""During his tenure as President and CEO, the FHLBank has performed remarkably well, providing value to members through a member-driven product line, a consistently competitive rate of return on members' investment, and a priority on personal service,"" he added.

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""This is a great organization with talented staff and a dedicated Board of Directors,"" Hehman added. ""It has been my privilege to work with them to serve our members and their communities. The FHLBank maintains an important role in the infrastructure of the American banking system and the economy overall. I am glad to have been a member of the team that serves the Fifth District.""

The Federal Home Loan Bank's board of directors selected Andrew Howell, currently EVP and COO for the financial institution, to succeed Hehman.

""I inherit from him a strong FHLBank with an extremely capable and dedicated staff,"" Howell said, adding, ""and I'm grateful for the opportunity to have served our Fifth District members under President Hehman's leadership, as well as for the confidence our Board has placed in me.""

Hehman first arrived at the Federal Home Loan Bank in 1977, when he left his position as assistant professor of economics and finance at Xavier University in Cincinnati.

He received his bachelor's and master's degrees in economics from the same school and his doctoral degree from the University of Cincinnati. He serves on several economic advisory committees at Xavier and the Greater Cincinnati Chamber of Commerce.

Howell started his career at the Federal Home Loan Bank in 1989. In 2007, he took up a position as EVP for mission asset activity, assuming responsibility for credit services and mortgage purchases. He earned his bachelor's in Business Administration from the University of Kentucky and a master's from the University of Cincinnati.