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Federal Home Loan Bank of Atlanta Announces Results of 2016 Board of Directors’ Election

ATLANTA, Oct. 20, 2016 -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2016 director election for two member directors and two at-large independent directors. All directors-elect terms will begin on January 1, 2017.

FHLBank Atlanta member institutions in North Carolina re-elected Suzanne S. DeFerie to a four-year member directorship term. Ms. DeFerie has served as president and chief executive officer of Asheville Savings Bank since January 2008 and its holding company, ASB Bancorp, Inc., since its incorporation in May 2011. She has been a director of FHLBank Atlanta since 2015. She also serves as a member of the boards of directors for both the Asheville Savings Bank and ASB Bancorp, Inc.  Prior to becoming chief executive officer, Ms. DeFerie served as executive vice president and chief financial officer of the Asheville Savings Bank for 16 years. She also serves as a member of the Community Depository Institutions Advisory Council for the Federal Reserve Bank of Richmond. She is the immediate past chair of the Asheville Area Chamber of Commerce Board of Directors and the United Way of Asheville and Buncombe County Board of Directors.

FHLBank Atlanta member institutions in Virginia elected Scott C. Harvard to a four-year member directorship term. Mr. Harvard currently serves as president, chief executive officer, and director of First National Corporation and chief executive officer and director of First Bank in Strasburg, Virginia. He served as a director of FHLBank Atlanta from 2003 through 2012. Prior to joining First Bank, Mr. Harvard owned and operated Harvard Resources from 2009 to 2011, served as executive vice president of Hampton Roads Bankshares from 2008 to 2009, and president and chief executive officer of Shore Financial Corporation from 1985 to 2008. He currently serves on the boards of the Virginia Bankers Association and the Community Bankers Bank of Richmond.

FHLBank Atlanta member institutions re-elected LaSalle D. (Donney) Leffall, III to a four-year independent directorship term. Mr. Leffall is president of LDL Financial LLC, a financial advisory and investment firm he founded in 2006. He has been a director of FHLBank Atlanta since 2007. From 2002 to 2006, he held various executive positions, including president and chief operating officer at The NHP Foundation in Washington, D.C., one of the nation’s largest nonprofit owners of affordable multifamily housing. He was recruited in 2008 to serve as acting chief executive officer. From 1996 to 2002, Mr. Leffall was a mergers and acquisitions investment banker, first at Credit Suisse First Boston and then at UBS, both in New York, New York. In 1992, Mr. Leffall began his career as an attorney in the corporate department of Cravath, Swaine & Moore in New York, New York. Since 2011, he has served on the board of directors of Mutual of American Investment Corporation and Mutual of America Institutional Funds, Inc. He is a member of the Circle of the National Gallery of Art, the Council on Foreign Relations, the Economic Club of Washington, D.C., and the Federal City Council.

FHLBank Atlanta member institutions re-elected F. Gary Garczynski to a four-year public interest independent directorship term. Mr. Garczynski has served as the president of National Capital Land and Development, Inc., a construction and real estate development company in Woodbridge, Virginia, since 1997. He has been a director of FHLBank Atlanta since 2007 and currently serves as the board chairman. Mr. Garczynski served as chairman of the National Housing Endowment from 2004 to 2010 and continues to serve on its executive committee. He previously served as the 2002 president of the National Association of Home Builders (NAHB). Mr. Garczynski serves as a Senior Life Director of NAHB, a Life Director of the Home Builders Association of Virginia, and a Senior Life Director of the Northern Virginia Building Industry Association. He also is a member of the Prince William County, Virginia, Affordable Housing Task Force and a three-term appointee to the Virginia Housing Commission. Mr. Garczynski serves a gubernatorial appointment through 2018 as the Northern Virginia Director to the Commonwealth Transportation Board and the Northern Virginia Transportation Authority. He currently serves as the vice chairman of the Commonwealth Transportation Board.

About FHLBank 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 headquartered 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 billion in Affordable Housing Program funds, assisting more than 791,000 households.

Some of the statements made in this announcement are “forward-looking statements,” which include statements with respect to the Bank's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank's control, and which may cause the Bank's actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by the forward-looking statements.

The forward-looking statements may not be realized due to a variety of factors, including without limitation to legislative and regulatory actions, changes or approvals; future economic and market conditions (including the housing market and the market for mortgage-backed securities); changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates and prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; political, national, and world events; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general. Additional factors that might cause the Bank's results to differ from these forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at

New factors may emerge, and it is not possible for us to predict the nature, or assess the potential impact, of each new factor on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements. These statements speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of the forward-looking statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law.

CONTACT: Sharon Cook
Federal Home Loan Bank of Atlanta

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