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February 19, 1999

Norm Rice heads Home Loan Bank

Journal staff

Norm Rice
Rice
Former Seattle Mayor Norman B. Rice has been named the new president and chief executive officer of the Federal Home Loan Bank of Seattle by the bank's board of directors. He has served as executive vice president of the bank since March, 1998.

Rice succeeds James R. Faulstich, who retired this month.

The Federal Home Loan Bank is a wholesale bank that serves the Northwest states as well as Alaska, Hawaii, Guam and American Samoa. Working with over 300 community-based financial institutions, the bank uses its $36 billion in assets to expand housing and economic opportunity. It is one of 12 in the Federal Home Loan Bank System, but remains privately owned and operated.

Rice served as mayor of Seattle from 1990 through 1997. Prior to that he served three terms as a Seattle City Council member. Rice also is a past president of the U.S. Conference of Mayors.




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