Shook Re-Elected to Federal Home Loan Bank of Boston Board
Gregory R. Shook, President and CEO of Essex Savings Bank of Essex, Connecticut, has been re-elected to the board of directors of the Federal Home Loan Bank of Boston for a four year term, commencing January 1, 2017. Shook served a two-year term that began January 1, 2015 and was elected by Connecticut’s 71 bank, credit union, and insurance company members of FHLB Boston.
He also served on the first Community Depository Institution Advisory Council (CDIAC) of the Federal Reserve Bank of Boston from 2011-2013 which offers a community institution perspective on the economy, credit conditions, regulatory policies, and payments. The members of the First District CDIAC bring information from their local communities to the Federal Reserve Bank of Boston. He represented commercial banks, thrifts, and credit unions with assets of less than $10 billion. The CDIACs of the Federal Reserve Board and the 12 Reserve Banks were established by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Essex Savings Bank is a FDIC insured, state chartered, mutual savings bank established in 1851. The bank serves the Connecticut River Valley and shoreline with six offices in Essex, Chester, Madison, Old Lyme and Old Saybrook. Financial, estate, insurance and retirement planning are offered throughout the state by the bank’s trust department and wholly owned subsidiary, Essex Financial Services Inc.