Federal Home Loan Bank of Cincinnati Names Ohio Member Director Michael Pell

What Happened
The Federal Home Loan Bank of Cincinnati (FHLB Cincinnati) filed an 8‑K reporting that Michael P. Pell, President and CEO of First State Bank (Winchester, Ohio), was declared elected on September 4, 2026 as an Ohio member director to the FHLB’s board for a four‑year term beginning January 1, 2027. The FHLB sent notice of the election to its Ohio members on September 8, 2026. For 2026, Mr. Pell serves as Chair of the Board and as a member of the Audit Committee and the HR, Compensation and Inclusion Committee.

Key Details

• Election type: “Deemed elected” because the number of eligible nominations equaled the number of seats, per Federal Home Loan Bank Act and FHFA rules.
• Effective term: Four‑year term commencing January 1, 2027.
• Notice and disclosure: FHLB Cincinnati sent member notice on September 8, 2026 and attached a member announcement as Exhibit 99.1 to the 8‑K.
• Compensation: Mr. Pell is expected to be paid under the FHLB’s 2027 director compensation and expense reimbursement policy, expected to be substantially similar to the 2026 policy.
• Related-party context: Member directors are officers or directors of FHLB members; transactions between the FHLB and its members are in the ordinary course and governed by existing policies (see FHLB’s 2025 Form 10‑K for more detail).

Why It Matters
This is a governance update for FHLB Cincinnati’s board composition and committee leadership going into 2027. Retail investors and members should note the formal addition of an Ohio member director (Michael Pell), the method of election (deemed election under FHFA rules), and that compensation and any member-related transactions are governed by the FHLB’s established policies. This filing does not report financial results or changes to senior management beyond board membership.