Federal Home Loan Bank of Dallas
11/12/2024 | Press release | Distributed by Public on 11/12/2024 16:09
Proxy Results Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 5, 2024, the Federal Home Loan Bank of Dallas (the "Bank") completed its director election process for both member and independent directorships with four-year terms beginning on January 1, 2025. Three member directors and one independent director were elected to serve on the Bank's Board of Directors. This process took place in accordance with the rules governing the election of Federal Home Loan Bank directors as specified in the Federal Home Loan Bank Act of 1932, as amended, and the related regulations of the Federal Housing Finance Agency. A description of the Bank's director election process is contained in the Bank's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 21, 2024 (the "2023 10-K").
J. Mark Riebe was elected as a member director representing the state of Texas. Mr. Riebe, age 68, serves as Chairman of TexasBank in Fort Worth, Texas.
Jeff Austin III was also elected as a member director representing the state of Texas. Mr. Austin, age 62, serves as Chairman of Austin Bank Texas, N.A. in Jacksonville, Texas.
Stephen Panepinto was re-elected as a member director representing the state of Louisiana. Mr. Panepinto, age 71, serves as Chairman, President and Chief Executive Officer of Plaquemine Bank and Trust Company in Plaquemine, Louisiana.
Finally, Rufus Cormier, Jr. was re-elected as an independent director. Mr. Cormier, age 76, is a retired partner of the law firm of Baker Botts L.L.P. in Houston, Texas.
At the time of filing this report, the committees of the Bank's Board of Directors to which Mr. Riebe and Mr. Austin will be named have not been determined, nor has it been determined whether Mr. Panepinto and Mr. Cormier will continue to serve on the same board committees in 2025.
For a description of the Bank's director compensation, please refer to Item 11 of the Bank's 2023 10-K.
Since January 1, 2023, the Bank has not engaged in any transactions with any of the above-named persons or any members of their immediate families that require disclosure under applicable rules and regulations. There are no arrangements or understandings between any of the elected directors named above and any other persons pursuant to which that director was selected.
As a cooperative, the Bank's products and services are provided almost exclusively to its members. In the ordinary course of business, transactions between the Bank and its members are carried out on terms which are established by the Bank, including pricing and collateralization terms, under its Member Products and Credit Policy, which treats all similarly situated members on a non-discriminatory basis. The Bank provides, in the ordinary course of its business, products and services to members whose officers or directors serve as member directors of the Bank. The Bank's products and services are provided to such members on terms that are no more favorable to them than comparable transactions with other similarly situated members of the Bank whose officers or directors do not serve as member directors of the Bank.