SOURCE: Fulton Financial Corporation

Fulton Financial Corporation

January 05, 2010 15:16 ET

Nugent Joins Board of Federal Home Loan Bank of Pittsburgh

LANCASTER, PA--(Marketwire - January 5, 2010) - Fulton Financial Corporation (NASDAQ: FULT) announced that Charles J. Nugent, senior executive vice president and chief financial officer, has been elected to the board of the Federal Home Loan Bank of Pittsburgh (FHLBank) for a four-year term.

FHLBank Pittsburgh is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members, which include Fulton Financial Corporation's qualifying subsidiary banks. FHLBank Pittsburgh provides reliable access to low-cost funds, competitive pricing in the purchase of mortgage loans, correspondent banking, technical assistance, affordable housing grants and other programs so members can better serve their own communities. FHLBank Pittsburgh is privately capitalized and funded, does not use taxpayer dollars and enjoys a triple-A rating.

As of September 30, 2009, the Bank had 317 members in its district of Delaware, Pennsylvania and West Virginia and held approximately $67 billion in assets. FHLBank Pittsburgh is one of twelve Banks in the Federal Home Loan Bank System, established by congress in 1932 to support the residential mortgage activities of local financial institutions.

Contact Information

  • Contact:
    Laura Wakeley
    Phone: 717-291-2616