Media Center « Press Releases »

Press Release

FOR IMMEDIATE RELEASE

Contact:
Neil Cotiaux, FHLBank Pittsburgh: 412-288-2851; cell: 412-335-9488;

Farmers & Merchants Bank Executive Wins Coveted Award:
SVP Ed Wielgus Cited for Lifelong Commitment to Community

Ligonier, PA, June 10, 2008 - Ed Wielgus, senior vice president of Farmers & Merchants Bank of Western Pennsylvania, was honored by his peers today for a lifetime commitment to affordable housing and community investment.

At a gathering of scores of Pennsylvania banking executives hosted by the Federal Home Loan Bank of Pittsburgh (FHLBank), Wielgus received the coveted Council Award, named after FHLBank’s Affordable Housing Advisory Council and bestowed annually upon only one banker in Delaware, Pennsylvania and West Virginia.

“Our Council Award goes to an individual who demonstrates a lifelong commitment to affordable housing and whose career leadership has achieved important and lasting results in the community,” said John R. Price, president and chief executive officer of FHLBank. “Recipients of the Council’s Award are true leaders in affordable housing and community investment.”

With more than 34 years of experience, Wielgus has provided exemplary leadership to a number of financial institutions in western Pennsylvania. During his banking tenure, Ed has secured more than $5 million in grants from the Affordable Housing Program to help fund projects serving very-low-, low- and moderate-income families and individuals in need of both rental and for-purchase housing. He’s successfully tapped low-cost financing to help spur community projects that create jobs and improve neighborhoods, used the First Front Door program to extend down payment and closing cost assistance to needy first-time homebuyers and assisted startup or expanding businesses through financing with attractive rates and terms.

Across the community, Weilgus continues to play a significant role in making life better for others. He was a founding member of a lender consortium for local community banks that originated loans to low- and moderate-income borrowers. He also helped establish Benedictine Place, a residence for women and children in crisis in Ross Township. He’s a current board member of ACTION Housing in Pittsburgh and is a founding board member of North Hills Affordable Housing, now named HEARTH. An original board member of the North Hills Foundation and a current board member of the North Hills School District, Weilgus is keenly interested in the issue of education.

“We are pleased to honor Ed Weilgus as a vital force for good,” concluded Price of FHLBank. “His passionate dedication to community shines through all that he does.”

Farmers & Merchants Bank of Western Pennsylvania is headquartered in Kittanning and operates eight offices in Armstrong County, PA. It serves both consumers and businesses with a wide variety of savings, checking, lending and investment services along with ATM, telephone and Internet banking.

FHLBank Pittsburgh (www.fhlb-pgh.com) is a wholesale bank that serves the housing finance and community and economic development needs of its owner-members. 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. At March 31, 2008, it had 333 members in its district of Delaware, Pennsylvania and West Virginia and approximately $105 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.