Federal Home Loan Bank of Atlanta
07/25/2025 | Press release | Distributed by Public on 07/25/2025 07:37
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.
On July 24, 2025, the board of directors of the Federal Home Loan Bank of Atlanta (the "Bank") elected Rodney E. Hood to fill the vacant independent directorship created by his resignation on February 10, 2025 after being appointed as Acting Comptroller of the Currency. Mr. Hood concluded his term as Acting Comptroller of the Currency on July 15, 2025, and his employment by the federal government will conclude on July 31, 2025. Mr. Hood's election to the Bank's board of directors will be effective on August 1, 2025 and for the remainder of the vacancy ending on December 31, 2028. Mr. Hood will serve on the Bank's Audit, Finance, Enterprise Risk and Operations and Executive Committees.
The Bank is a cooperative and conducts business primarily with its members, who are required to own capital stock in the Bank as a prerequisite to transacting certain business with the Bank. Subject to the Federal Home Loan Bank Act and Federal Housing Finance Agency regulations, the Bank also issues consolidated obligations through the Office of Finance, maintains a portfolio of short-term and long-term investments, enters into derivative transactions, and provides certain cash management and other services; in each case, with members, housing associates, or other third parties of which directors may serve as officers or directors. All such 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.
The Bank will compensate Mr. Hood in accordance with the Bank's Directors' Compensation Policy. He will also be entitled to participate in the Bank's Non-qualified Deferred Compensation Plan, under which each Bank director has the opportunity to defer all or a portion of the amount of their compensation.
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