Federal Home Loan Bank of Boston
12/15/2025 | Press release | Distributed by Public on 12/15/2025 15:41
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Board Election to Fill Member Director Vacancy.
On December 12, 2025, the Federal Home Loan Bank of Boston's (the Bank's) board of directors (the Board) elected Margaret McIsaac, president and chief executive officer of Bluestone Bank in Raynham, Massachusetts, to fill the unexpired term ending December 31, 2027, of former member director Edward F. Manzi. Ms. McIsaac's directorship will be effective as of January 1, 2026.
The Board has not yet determined on which committees Ms. McIsaac will serve in 2026. The Bank expects to compensate Ms. McIsaac under the 2026 Director Compensation Policy, disclosed in a Current Report on Form 8-K on October 30, 2025.
Pursuant to the Federal Home Loan Bank Act of 1932 (the Act) and the related regulations
(the Applicable Regulations) of the Federal Housing Finance Agency (FHFA), the Bank's member directors serve as officers or directors of Bank members. The Bank is a cooperative and conducts business primarily with its members, which are required to own capital stock in the Bank as a prerequisite to transacting certain business with the Bank. Subject to the Act and the Applicable Regulations, the Bank may conduct business with members whose officers or directors serve on the Board, including:
•extending credit in the ordinary course of business to such members, on market terms that are no more favorable to such members than the terms of comparable transactions with other members;
•purchasing short- and long-term investments, at market rates, from such members or their affiliates;
•entering into interest-rate-exchange agreements on market terms with affiliates of such members as counterparties; and
•providing affordable housing benefits in conjunction with such members, or affiliates of such members, on terms and conditions that are no more favorable to such members than the terms and conditions of comparable transactions with other members.
All the foregoing transactions are made in the ordinary course of the Bank's business and are subject to the same Bank policies as transactions with the Bank's members, housing associates, and third parties generally. For further information, see Item 13 - Certain Relationships and Related Transactions, and Director Independence of the Bank's 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2025.
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