WASHINGTON — David Hehman, the president and chief executive officer of the Federal Home Loan Bank of Cincinnati, announced Thursday that he will retire on June 1.

Hehman, 63, first joined the bank in 1977 and has been in his current role since 2003. He will be succeeded by Andrew Howell, 50, the Home Loan Bank's executive vice president and chief operating officer.

"It has been my privilege to work with [the bank and it's board of directors] to serve our members and their communities," said Hehman in a press release. "The FHLBank maintains an important role in the infrastructure of the American banking system and the economy overall."

Under his tenure, Hehman helped the bank achieve record earnings, grow its membership with the addition of insurance companies and credit unions, and expand the mortgage purchase program.

Howell began his career at the bank in 1989 in the credit department after holding various management positions at Huntington Bank, Bank One and First National Bank of Cincinnati.

He became executive vice president of mission asset activity in 2007 overseeing the bank's credit services and mortgage purchase program. A year later he was promoted to his current role.

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