WASHINGTON — Steven Horton, acting president and chief executive officer of the Federal Home Loan Bank of Seattle, is retiring, the bank said Wednesday.

Horton will be replaced on a temporary basis by a committee of four executive officers at the Home Loan Bank. They are: Vincent Beatty, the acting chief operating officer; Mike Brandeberry, the chief counsel; Christina Gehrke, the chief accounting and administrative officer; and John Stewart, the chief risk officer.

In the meantime, the Seattle Home Loan Bank is in the midst of a search for a permanent president and CEO, it said in a press release.

Horton, whose retirement became effective on Nov. 18, took over as acting president and CEO on Oct. 25, 2010. Previously he served as chief operating officer and chief risk officer — after joining the Home Loan Bank in 1986.

"We sincerely appreciate Steve's many years of service to the Seattle Bank cooperative," chairman William Humphreys said in a press release. "In particular, his leadership as acting president and CEO over the past year has provided a positive and stabilizing influence for our organization and our membership during what has been a challenging time for our economy, our industry, and the cooperative."

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