NEW YORK, November 18, 2021 / PRNewswire / – The Federal Home Loan Bank of new York (FHLBNY) announced today that John R. Buran has been re-elected by its board of directors (the board) to chair the board for a two-year term starting on January 1, 2022. Mr. Buran, who is President, CEO and Director of Flushing Bank, member of FHLBNY and of Flushing Bank’s holding company, Flushing Financial Corporation, sits on the Board of Directors of FHLBNY as a Director since December 1, 2010. He has been Chairman of the Board of Directors since January 1, 2018.
“Over the past two years, the FHLBNY has played an important role in the stability and recovery of our region, working with our more than 320 members to get funds and grants flowing in the communities we all serve,” Mr Buran said. “The Board of Directors has played a key role in these efforts as we all work together to support the mission of the FHLBNY. I am honored to continue to chair the board of directors of this vital cooperative, and thank my fellow directors for their continued confidence in I look forward to working with the board and management to ensure that the FHLBNY remains a reliable partner for our members. “
“John’s leadership and steadfastness continue to serve our cooperative well, especially in such a difficult operating environment,” said José R. González, President and CEO of FHLBNY. “Throughout this difficult period, our entire Board of Directors has remained active and engaged, strengthening our cooperative through its advice and expertise. We are fortunate to have such a talented group of directors working together and with management in support of our mission to advance housing and community development opportunities. “
Mr. Buran is a director, president and chief executive officer of Flushing Financial Corporation, the holding company of Flushing Bank, a member of FHLBNY, and Flushing Bank. He joined the holding company and the bank in 2001 as Deputy Chief Executive Officer and became a director of these entities in 2003. In 2005, he was appointed Chairman and Chief Executive Officer of both entities. Mr. Buran’s career in banking began at Citibank in 1977, where he held various management positions. Mr. Buran is a past president and current member of the board of directors of the New York Bankers Association. Mr. Buran also sits on the advisory board and is a past chairman of the New York City Neighborhood Housing Services Board.
Federal Mortgage Bank of new York
The Federal Mortgage Bank of new York is a congressionally licensed wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional banks owned by shareholders. As of September 30, 2021, the FHLBNY serves 321 financial institutions in New Jersey, new York, Porto Rico, and the US Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing to American homebuyers.
Safe Harbor Declaration under the Private Titles Litigation Reform Act 1995
This report may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected”, “expects”, “may” or their negatives or other variations on such terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties and that actual results could differ materially from those expressed or implied in such forward-looking statements or could affect the extent to which an objective, projection , an estimate, or the prediction is made. These forward-looking statements involve risks and uncertainties, including, but not limited to, the risk factors set forth in our annual reports on Form 10-K and our quarterly reports on Form 10-Q filed with the SEC, as well. as in rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our profile of members, the withdrawal of one or more important members, competitive pressures, changes in demand for our products and general economic conditions. Forward-looking statements speak only as of the date they are made, and we assume no obligation to publicly revise or update any forward-looking statements for any reason.
CONTACT: Brian Finnegan
SOURCE Federal Home Loan Bank of new York