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BOSTON - The Federal Home Loan Bank of Boston (the Bank) announced the election results for its board of directors.

William P. Morrissey, who serves as senior vice president of Central Bank in Chestnut Hill, Massachusetts, was re-elected to the board. Mr. Morrissey has served on the board from October 1990 to December 1996, and from January 1999 to the present.

Stephen Christy, president and chief executive officer of Mascoma Savings Bank, FSB, in Lebanon, New Hampshire, ran unopposed. Mr. Christy has served on the board of directors since January 1, 2002.

Peter F. Crosby, president and chief executive officer of Passumpsic Savings Bank, in St. Johnsbury, Vermont, also ran unopposed. This will be his first term.

Messrs. Morrissey, Christy, and Crosby will serve three-year terms, from January 1, 2005 to December 31, 2008.

The Federal Home Loan Bank of Boston (www.fhlbboston.com) is a $42 billion, 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.