updated 2/15/2011 10:46:24 AM ET 2011-02-15T15:46:24

ATLANTA, Feb. 15, 2011 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2011 election for the chairman and vice chairman of the board of directors.

Scott C. Harvard, Chairman

FHLBank Atlanta board members re-elected Scott C. Harvard, vice president of Virginia Savings Bank, F.S.B. in Front Royal, Virginia, as chairman of FHLBank Atlanta's Board of Directors. Harvard has served as chairman since 2007. He has held his current position at Virginia Savings Bank, F.S.B. since 2009. Previously, he served as president, chief executive officer, and as a director of Shore Bank from 1985 to 2009. Harvard also served as president and chief executive officer of its parent, Shore Financial Corporation, from 1997 to 2008. He served as a director and an executive vice president of Hampton Roads Bankshares from 2008 to 2009. Harvard began serving on FHLBank Atlanta's Board of Directors in 2003. During his tenure on the board, Harvard has served as chair of the Executive, Human Resources, and Governance committees, and as a member of the Audit, Credit and Member Services, Enterprise Risk and Operations, Finance, Governance and Compensation, and Housing and Community Investment committees of the board. He is active in his community and in the banking associations in Virginia.

William C. Handorf, Ph.D., Vice Chairman

FHLBank Atlanta board members also elected William C. Handorf, professor of finance and real estate at The George Washington University School of Business in Washington, D.C., as vice chairman of FHLBank Atlanta's Board of Directors. Handorf began his career with The George Washington University in 1975. From 2001 to 2006, he served as a director of the Federal Reserve Bank of Richmond's Baltimore Branch, including two years as chair. From 1992 to 1995, Handorf served as a private citizen director of the FHLBank System's Office of Finance. He was appointed to FHLBank Atlanta's Board of Directors in 2007. During his tenure on the board, Handorf has served as the chair of the Audit and Finance committees, and as a member of the Credit and Member Services and Executive committees of the 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 12 district banks in the Federal Home Loan Bank System, which since 1990 has contributed more than $4 billion to the Affordable Housing Program.

CONTACT: Sharon Cook
         Federal Home Loan Bank of Atlanta
         scook@fhlbatl.com
         (404) 888-8173

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