The Federal Home Loan Bank of Chicago (FHLBC) has announced that incumbent directors, James Ashworth of CNB Bank & Trust, and Michelle Gross of State Bank of Bement, have been reelected to serve as member directors for additional four-year terms beginning 1/1/21 and ending 12/31/24.

Jim Ashworth of Carlinville has served on the FHLBC board since elected by membership in 2012. He currently serves as the vice chairman of FHLBC’s board of directors, member of the Executive Committee, vice chairman of the Audit Committee, and member of the Risk Management Committee. Ashworth joined CNB Bank & Trust, N.A. in 1978 and has served in many capacities, including as vice chairman since 1989 and as president and CEO from 1989 to 1997, as well as serving as vice chairman, president and CEO of its holding company, CNB Bank Shares, Inc. since 1989.

The Federal Home Loan Bank of Chicago is one of eleven FHLB’s in the USA. It is cooperatively owned by a large majority of member banks, thrifts, credit unions, insurance companies, and community development financial institutions headquartered in Illinois and Wisconsin. The mission of the FHLB system is to provide liquidity for its members through loan advances, and to support the country’s housing market and economic development through its community investment programs.

The board of directors at FHLBC is comprised of ten member directors, six of whom are from Illinois institutions, and four from Wisconsin; and eight independent directors from organizations that support the nation’s housing industry. The FHLBC reports total assets of $98.4 billion at 9/30/20.