Compensation drops for leaders of Home Loan Banks
Northwestern Financial Review, May 15-May 31, 2004
The boards of directors at the nation's Federal Home Loan Banks are being urged to look carefully at the compensation and incentive packages given to their individual bank presidents. This after the Federal Housing Finance Board released 2003 compensation figures for the Home Loan Bank's 12 leaders.
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Pat Conway, president of the Federal Home Loan Bank of Des Moines, saw his compensation in 2003 decline 4 percent to $565,000 from 2002. The reduction came despite a 72 percent increase in net income at the bank during 2003 over 2002. Home Loan Bank presidents in Chicago, Indianapolis and Topcka all saw increases in their compensation.
Copyright NFR Communications Inc May 15-May 31, 2004
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