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BOSTON — Robert F. Verdonck, president and chief executive officer of East Boston Savings Bank, has been re-elected to the board of directors of the Federal Home Loan Bank of Boston. His term will run through December 31, 2008. Mr. Verdonck has served on the board since January 1998 and as its chairman since 2004.

Mr. Verdonck also serves as president and chief executive officer of Meridian Financial Services, Inc.; as an independent trustee of John Hancock Variable Series Trust; as a director of SBLI Massachusetts; and as a director of Depositors Insurance Fund.

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.