John R. Buran re-elected president of the Federal Home Loan Bank of New York
NEW YORK, November 18, 2021 /PRNewswire/ — The Federal Home Loan Bank of New York (FHLBNY) announced today that John R. Buran was re-elected by its Board of Directors (Board) to chair the Board for a two-year term commencing on January 1, 2022. Mr. Buran, who is President, Chief Executive Officer and Director of Flushing Bank, Member FHLBNY, and Flushing Bank’s holding company, Flushing Financial Corporation, serves on the Board of Directors of FHLBNY as a member administrator since December 1, 2010. He has served as Chairman of the Board since January 1, 2018.
“Over the past two years, FHLBNY has played an important role in the stability and recovery of our region, working with our more than 320 members to secure funds and grants that flow into the communities we all serve” , said Mr. Buran. “The board has played a key role in these efforts as we all work together to support the mission of FHLBNY. I am honored to continue to serve as chairman of the board of directors of this vital cooperative, and I thank my fellow directors for their continued confidence in I look forward to working with the Board and management to ensure that FHLBNY remains a trusted partner for our members.
“John’s leadership and steady hand 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 co-operative with their guidance and expertise. We are fortunate to have such a talented group of directors who work together and with management to support our mission to advance housing opportunities and community development.”
Mr. Buran is a Director, President and Chief Executive Officer of Flushing Financial Corporation, the holding company of Flushing Bank, Member FHLBNY, and Flushing Bank. He joined the holding company and the bank in 2001 as Chief Operating Officer and became a director of these entities in 2003. In 2005, he was appointed President and Chief Executive Officer of both entities. Mr. Buran’s banking career began with Citibank in 1977 where he held various senior positions. Mr. Buran is a past president and current board member of the New York Bankers Association. Mr. Buran also serves on the advisory board and is a past chair of the New York City Neighborhood Housing Services Board of Directors.
Federal Mortgage Bank of New York
The Federal Mortgage Bank of New York is a congressional chartered wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 shareholder-owned regional banks. As of September 30, 2021, FHLBNY serves 321 financial institutions in New Jersey, New York, Porto Rico, and the US Virgin Islands. The Federal Home Loan Banks supports the efforts of local members to help provide financing to US homebuyers.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 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. Such statements are based on our current expectations and speak only as of the date hereof. These statements may use forward-looking words, such as “expected”, “expects”, “may”, or their negatives or other variations of these terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties that actual results could differ materially from those expressed or implied by such forward-looking statements or could affect the extent to which any 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 such as regulations and accounting, rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in mortgage asset prepayment periods, the cost of our funding, changes in our membership profile, withdrawal of one or more significant 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 undertake 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