Assistant Director of Corporate Communications
Peter E. Garuccio
Federal Home Loan Bank of Atlanta
Federal Home Loan Bank of Atlanta Announces
Results of the 2017 Board of Directors' Election
ATLANTA, October 5, 2017 – Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2017 director election for one public interest independent director. The term for the director-elect will begin on January 1, 2018.
FHLBank Atlanta member institutions re-elected Robert L. Strickland to a four-year public interest independent directorship term. Mr. Strickland has been a director of FHLBank Atlanta since 2007 and is currently chairman of the Housing and Community Investment Committee, vice chairman of the Governance and Compensation Committee, and a member of the Credit and Member Services and Executive Committees. He also served on the Bank’s Affordable Housing Advisory Council from 1997- 1999. Mr. Strickland has served as executive director of the Alabama Housing Finance Authority (AHFA) since 1987, after a 14-year career in commercial banking. Under his leadership, AHFA’s operations have expanded to provide financing for homeownership opportunities, affordable housing construction, multifamily rental housing development, and foreclosure prevention, as well as servicing mortgage loans for 30 Alabama community banks and the Mississippi, Missouri, North Carolina and Washington Housing Finance Authorities. Mr. Strickland originated the Alabama Multifamily Loan Consortium (Consortium) in 1996 and continues to serve on its board and executive committee. The Consortium, a nonprofit association of 57 member banks, leverages low-income housing tax credits to provide permanent mortgages for multifamily housing statewide. From 2002 – 2004, Mr. Strickland served as president of the National Council of State Housing Agencies, a nonprofit, nonpartisan association and advocate for state housing finance agencies and affordable housing. He has also served on the National Association of Home Builders Mortgage Finance Roundtable and as a member of Fannie Mae’s National Advisory Council. Mr. Strickland has a Bachelor of General Studies degree from Auburn University and is a graduate of the National Commercial Lending School, University of Oklahoma.
FHLBank Atlanta also announced that Travis “Tra” Cosby, III was the only individual to be nominated and to accept nomination for the Alabama member directorship, and that Brian E. Argrett was the only individual to be nominated and to accept nomination for the Washington, D.C. member directorship. Accordingly, Mr. Cosby and Mr. Argrett were deemed elected without further action on August 21, 2017, according to 12 C.F.R. § 1261.8(c), and will serve four-year terms beginning on January 1, 2018.
Mr. Cosby has been a director of the Bank since 2013 and is currently vice chairman of the Audit Committee and a member of the Enterprise Risk and Operations, Executive and Finance Committees. He is chairman of the board, First Community Bank of Central Alabama, Wetumpka, AL. Mr. Cosby has over 34 years of banking experience, through numerous operations, lending, investment portfolio management, and funds management positions. He has served as chairman of the board of First Community Bank of Central Alabama since January 1, 2013, having previously served as president from 2001 – 2011 as well as chief executive officer from 2004 – 2012. Mr. Cosby worked at Union Planters Bank from 1998 – 2001, achieving the title of city president, after rising to executive vice president while working for First National Bank of Wetumpka from 1982 – 1998. From 1980 – 1982, he worked at Jackson Thornton and Co., CPAs. Mr. Cosby is a past chairman and current board member of the Alabama Bankers Association, Inc. He also serves on the board of directors of the Wetumpka Boys and Girls Club of the River Region and the Trails of Legends Association. Mr. Cosby has a B.S. in accounting from Auburn University and is a Certified Public Accountant. He is a graduate of the National Commercial Lending School, University of Oklahoma, and the Graduate School of Banking of the South, Louisiana State University.
Mr. Argrett has served as president, chief executive officer and director of City First Bank of DC since 2011. Previously, Mr. Argrett was founder and managing partner of both Fulcrum Capital Group and Fulcrum Capital Partners, L.P. from 1992 to 2011. He served as president, chief executive officer and director of Fulcrum Venture Capital Corporation, a federally licensed and regulated Small Business Investment Company, from 1992 to 2011. He currently serves as chairman of the boards of directors of City First Enterprises, a nonprofit bank holding company, and City First Foundation. Mr. Argrett also serves as presidential appointee to the Community Development Advisory Board, chairman of the Community Development Bankers Association, a director of the Washington DC Economic Partnership, and a member of the Community Bankers Council of the American Bankers Association. Mr. Argrett received a J.D. and M.B.A. from the University of California, Berkley, and a B.S. from the McIntire School of Commerce at the University of Virginia. Mr. Argrett currently serves on the board of directors of the Federal Home Loan Bank of Atlanta, where he is a vice chairman of the Housing and Community Investment Committee, and a member of the Audit, Enterprise Risk and Operations, and Executive Committees.
About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members—its shareholders and customers—are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $5.4 billion in Affordable Housing Program funds, assisting more than 827,000 households.
For more information, visit our website at www.fhlbatl.com.
Assistant Director of Corporate Communications