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Federal Home Loan Bank of Seattle Announces Newly Elected Directors for 2013



  Federal Home Loan Bank of Seattle Announces Newly Elected Directors for 2013

Business Wire

SEATTLE -- January 10, 2013

The Federal Home Loan Bank of Seattle (Seattle Bank) has announced the results
of its recent Board of Directors elections. William V. Humphreys was
re-elected to serve as the bank’s member director from Oregon; J. Benson
Porter was elected to serve as the member director from Washington; and Debora
D. Horvath, Thomas P. Potiowsky, and David F. Wilson were elected to serve as
independent directors.

William V. Humphreys is president, chief executive officer, and director of
Citizens Bancorp in Corvallis, Oregon. He has served on the Seattle Bank’s
Board of Directors since 2006 and as the board’s chairman since 2010. Mr.
Humphreys has more than 36 years of banking experience, including 23 years as
chief executive officer of a community bank. He is chair of the American
Bankers Association Federal Home Loan Bank Committee and has served as a
director of the Oregon Bankers Association and chairman of the State of Oregon
Banking Board.

J. Benson Porter is president and chief executive officer of Boeing Employees'
Credit Union (BECU) in Tukwila, Washington. Prior to joining BECU in April
2012, he served as president and chief executive officer of First Tech Credit
Union in Palo Alto, California, from February 2007 to March 2012. He also
served in several positions at Washington Mutual Bank, most recently as
executive vice president and chief administrative officer, from May 1996 to
February 2007. Mr. Porter has held positions as regulatory counsel at Key Bank
and as staff director for the Washington State Senate Banking Committee. He is
a former director of the Federal Home Loan Bank of San Francisco and is
currently a member of the Board of Overseers of Whitman College and the Board
of CO-OP Financial Services. Mr. Porter earned a law degree from Seattle
University School of Law and an undergraduate degree in economics from Whitman
College.

Debora D. Horvath is principal of Horvath Consulting, LLC, in Shoreline,
Washington, a firm she founded in 2010. From 2008 to 2010, Ms. Horvath was
executive vice president for JP Morgan Chase & Co. From 2004 to 2008, she
served as executive vice president and chief information officer for
Washington Mutual, Inc. Prior to her tenure at Washington Mutual, Ms. Horvath,
a 25-year veteran from GE, served 12 years as senior vice president and chief
information officer for the GE Insurance businesses. Ms. Horvath holds a
bachelor’s degree in business administration from Baldwin Wallace College in
Cleveland, Ohio, and is a graduate of the GE Financial Management Program and
various GE executive development programs.

Thomas P. Potiowsky is professor and chair of the Economics Department and
director of the Northwest Economic Research Center at Portland State
University in Portland, Oregon. Mr. Potiowsky served as Oregon State Economist
from 1999 to 2006 and from 2008 to 2011. He has also served as advisor to
Oregon Governor’s Council of Economic Advisors. Mr. Potiowsky received his
bachelor’s degree in business administration from Ohio University and his
master’s degree and Ph.D. in economics from the University of Colorado at
Boulder.

David F. Wilson has been the chief executive officer of Wilson Construction,
LLC, a residential and commercial development company in Ketchum, Idaho, since
1977 and has served as an independent director on the Seattle Bank’s board
since 2007. He is chairman of the board at Idaho Housing and Finance
Association, and has been a member of that organization since 1995. He is also
an active member of the National Association of Home Builders (NAHB) and
served as the organization’s president in 2005. Currently, he is an NAHB
senior life director and chairman of the Home Building Industry Disaster
Relief Fund. Mr. Wilson served as mayor of Sun Valley, Idaho, from 1997 to
2001 and as a city council member from 1991 to 1997. He holds a bachelor’s
degree in business administration from California State University at Los
Angeles.

The Seattle Bank's Board of Directors comprises financial service, business,
and community leaders from across the Seattle Bank’s district. The 2013 board
includes 14 directors: eight member directors and six independent directors.
Two of the independent directors are public-interest directors.

  * Member directors must be officers or directors of Seattle Bank member
    institutions.
  * Independent directors are required to have knowledge or experience in one
    or more of the following areas: auditing and accounting, derivatives,
    financial management, organizational management, project development, risk
    management practices, or the law.
  * Public-interest directors are required to have at least four years of
    experience representing consumer or community interests on banking
    services, credit needs, housing, or financial consumer protections.

A complete listing of the Seattle Bank’s 2013 Board of Directors is available
on the bank’s website at www.fhlbsea.com.

About the Seattle Bank

The Federal Home Loan Bank of Seattle (Seattle Bank) is a member-owned
cooperative, serving 338 community financial institutions, which include
commercial banks, savings institutions, credit unions, and insurance
companies. The Seattle Bank provides its members with access to wholesale
funding, which they use to make home mortgages, small business, and other
loans in their communities.

The Seattle Bank also works with its members and their community partners to
promote affordable housing and economic development. Each year, the bank
provides 10 percent of its profits to fund affordable housing—both rental and
homeownership—and provides millions of dollars in reduced-rate loans for
affordable housing and community economic development.

One of 12 Federal Home Loan Banks in the United States, the Seattle Bank
serves Alaska, Hawaii, Idaho, Montana, Oregon, Utah, Washington, Wyoming,
American Samoa, Guam, and the Northern Mariana Islands.

Contact:

Federal Home Loan Bank of Seattle
Connie Waks, 206-340-2305
cwaks@fhlbsea.com
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