September 28, 2016 7:45 AM ET

Thrifts and Mortgage Finance

Company Overview of Federal Home Loan Bank of Pittsburgh

Company Overview

Federal Home Loan Bank of Pittsburgh operates as a cooperative bank that provides credit for residential mortgages and community development in Pennsylvania. It primarily offers advances against the security of residential mortgages and other types of collateral, as well as purchases residential mortgage loans originated by or through eligible member institutions. The company also provides deposit products and services comprising demand, overnight, and term deposits, as well as other types of credit and noncredit products and services, including letters of credit, interest rate exchange agreements, affordable housing grants, and securities safekeeping services to member institutions. In addi...

601 Grant Street

Pittsburgh, PA 15219

United States

213 Employees

Phone:

412-288-3400

Key Executives for Federal Home Loan Bank of Pittsburgh

Chief Executive Officer and President
Age: 61
Chief Financial Officer and Head of Capital Markets Department
Age: 51
Chief Operating Officer
Age: 51
Managing Director, General Counsel and Corporate Secretary
Age: 56
Chief Risk Officer
Age: 54
Compensation as of Fiscal Year 2016.

Federal Home Loan Bank of Pittsburgh Key Developments

Federal Home Loan Bank of Pittsburgh Announces Board Changes

James R. Reske, Executive Vice President and Chief Financial Officer and Treasurer of First Commonwealth Bank, has been elected by the Board of Directors of the Federal Home Loan Bank of Pittsburgh (FHLBank) to fill the unexpired term of member director Patrick J. Ward. FHLBank noted its Board selected Reske in accordance with the rules of the Federal Housing Finance Agency, which require the Board to select an officer or director of a Pennsylvania member of FHLBank to fill the remaining term of the vacant position. Reske's term will expire on December 31, 2017. In addition to serving as an executive of First Commonwealth Bank, Reske is also Executive Vice President, Treasurer and Chief Financial Officer of First Commonwealth Financial Corp. He will serve on the Board's Affordable Housing, Products and Services Committee and Governance and Public Policy Committee.

Federal Home Loan Bank of Pittsburgh Announces Executive Changes

Effective September 1, 2016 the Board of Directors of the Federal Home Loan Bank of Pittsburgh elected James R. Reske, Executive Vice President, Chief Financial Officer and Treasurer, First Commonwealth Bank, to fill the vacant Pennsylvania Member Director position. Mr. Reske was elected to serve the remainder of former Pennsylvania Member Director Patrick J. Wards term which expires on December 31, 2017. In addition to serving as an executive of First Commonwealth Bank, Mr. Reske is also Executive Vice President, Treasurer and Chief Financial Officer of First Commonwealth Financial Corporation. He will serve on the Board's Affordable Housing, Products and Services Committee and Governance and Public Policy Committee. Prior to joining First Commonwealth in 2014, Mr. Reske was Executive Vice President, Chief Financial Officer and Treasurer at United Community Financial Corporation in Youngstown, Ohio.

Federal Home Loan Bank of Pittsburgh Announces Cessation of Patrick J. Ward to Serve as Director

On August 12, 2016, the Federal Home Loan Bank of Pittsburgh determined that Patrick J. Ward is no longer eligible to serve as a director on the Bank's board of directors as a result of a merger. Mr. Ward previously was elected as a member director designated for Pennsylvania. The member institution of which Mr. Ward was an officer and a director, Penn Liberty Bank, Wayne, Pennsylvania merged into a Delaware financial institution. Based on applicable law, this resulted in Mr. Ward becoming ineligible to continue to serve as a member director for the State of Pennsylvania with a term expiring on December 31, 2017. In accordance with the Federal Home Loan Bank Act, the Bank's board of directors will elect a director to fill the vacancy for this directorship.

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