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Federal Home Loan Bank of Atlanta Announces Results of 2009 Board of Directors’ Election

ATLANTA, Nov. 3, 2009 - Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2009 election for three member director and two independent director positions on the board of directors.

FHLBank Atlanta member institutions in Alabama reelected W. Russell Carothers, II, chairman, president and CEO of The Citizens Bank of Winfield in Winfield, Alabama to a new four-year term. Carothers joined The Citizens Bank in 1963 and has held his current positions there since 1990. Carothers first joined the FHLBank Atlanta Board of Directors in 2002. He actively serves with several business organizations, including the Independent Community Bankers of America and the State Community Bankers Association of Alabama.

Member institutions in South Carolina reelected J. Thomas Johnson, president and CEO of Citizens Building and Loan Association in Greer, South Carolina to a new two-year term. Johnson currently serves as vice chairman of the FHLBank Atlanta Board of Directors. Johnson first joined the FHLBank Atlanta Board of Directors in 2004. Johnson is chairman of Business Carolina, Inc., a statewide economic development lender. He is a board member of First Community Corporation and has served on the board of the South Carolina Bankers Association and a number of other civic and professional organizations.

Effective September 25, 2009, Thomas H. Webber, III, vice president of IDB-IIC Federal Credit Union in Washington, D.C., was deemed elected to a new four-year term to fill the member directorship of FHLBank Atlanta designated for the District of Columbia. Pursuant to applicable Federal Housing Finance Agency regulations, if the number of accepted and eligible nominees is equal to or fewer than the number of member directorships to be filled, such nominees shall be deemed elected without further action. Webber joined IDB-IIC Federal Credit Union as vice president and chief financial officer in 1999. Webber first joined the FHLBank Atlanta Board of Directors in 2007.

FHLBank Atlanta also announced that member institutions reelected Robert L. Strickland, executive director of the Alabama Housing Finance Authority, to a new four-year term as public interest director (housing). Strickland has served as executive director of Alabama Housing Finance Authority for the past 22 years. Strickland previously served on FHLBank Atlanta’s Board of Directors from 2002 to 2004, and was also a member of the FHLBank Atlanta Affordable Housing Advisory Council and the National Association of Homebuilders’ Mortgage Roundtable. Strickland rejoined the FHLBank Atlanta Board of Directors in 2007.

Member institutions also reelected William C. Handorf, professor of finance and real estate at George Washington University’s School of Business, to a new two-year term as non-public interest independent director. In addition to over 35 years of experience as a professor, he completed two terms as a director of the Federal Reserve Bank of Richmond’s Baltimore branch, including two years as chairman. Handorf also previously served as a private citizen director of the FHLBank System’s Office of Finance. Handorf was appointed to the FHLBank Atlanta Board of Directors in 2007.

All directors’ new terms will begin January 1, 2010.

About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help more than 1,200 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, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System which since 1990 has contributed more than $3.6 billion to the Affordable Housing Program.

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