Back

BOSTON — The Federal Home Loan Bank of Boston (the Bank) announced that Charles F. Frosch will resign his position as director of the Bank effective April 1, 2006. Mr. Frosch has served as a director of the Bank since January 1, 1998. His resignation coincides with his upcoming retirement from his position as chief executive officer of Union Savings Bank, of Danbury, Connecticut, on March 31.

The board of directors appointed R. David Rosato to fill the vacancy created by Mr. Frosch's resignation. His term will commence on April 20 and expire on December 31, 2006. Mr. Rosato serves as senior vice president and treasurer of Webster Bank, N.A., of Waterbury, Connecticut, a position he has held since 1999. In addition, Mr. Rosato serves as senior vice president and treasurer of Webster Financial Corporation.

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to support the residential-mortgage and community-development lending activities of its members, which include over 460 financial institutions across New England. To accomplish its mission, the Bank utilizes private-sector capital to provide members and other qualified customers with reliable access to low-cost wholesale funds, liquidity, a competitive outlet for the sale of loans, special lending programs, technical assistance, and other products and services.

For more information, see the Bank's backgrounder.