• November 12, 2024
• Bulletin No: 2024-36

The Federal Home Loan Bank of Dallas (Bank) is pleased to announce the results of the 2024 election for four positions on the Bank’s Board of Directors (Board), which consisted of one member director seat in Louisiana, two-member director seats in Texas and an independent director seat. Each seat has a four-year term commencing January 1, 2025, and expiring December 31, 2028. There were no member director seats to be filled this year for Arkansas, Mississippi or New Mexico.  
 
Jeff Austin III, Chairman of Austin Bank Texas, N.A. in Jacksonville, Texas and J. Mark Riebe, Chairman of TexasBank in Fort Worth, Texas, were elected as member directors representing Texas. They will fill the seats of outgoing directors Tim H. Carter (Director of Southside Bank in Fort Worth, Texas) and W. Wesley Hoskins (Chairman, President and CEO of First Community Bank in Corpus Christi, Texas), who will each reach their term limit on the Board as of December 31, 2024. Stephen Panepinto, Chairman, President and CEO of Plaquemine Bank and Trust Company in Plaquemine, Louisiana, was the sole candidate for the Louisiana member director seat and was therefore deemed re-elected. Incumbent Rufus Cormier Jr. was re-elected to an independent director seat. Mr. Cormier was the sole candidate for the independent director seat as described below.
 
The total number of votes eligible to be cast in the election for each of the two Texas member director seats was 6,616,799. A total of 272 ballots were received.
 
The total number of votes eligible to be cast in the independent director election was 8,871,853. The total number of votes cast in the election for the independent director seat was 4,300,602. A total of 336 ballots were received; however, some of those ballots were blank. Consequently, 271 ballots were counted for the independent director seat. 
 
 
 
The detailed results of the election were as follows:
 
Texas Member Directors                                             Number of Votes Cast
 
J. Mark Riebe                                                                         3,101,797
Chairman and Chief Executive Officer
TexasBank
4521 S. Hulen Street
Suite 206
Fort Worth, TX 76109
 
 
 
Jeff Austin III                                                                          2,058,801
Chairman
Austin Bank Texas, N.A.
200 E. Commerce
Jacksonville, TX 75766
 
 
Andy Marshall                                                                        2,017,810
Director, President and Chief Executive Officer
FirstBank Southwest
2401 S. Georgia
Amarillo, TX 79109
 
Thomas E. Turner                                                                     914,219
Chairman and Chief Executive Officer
The First State Bank
402 9^th Street
Abernathy, TX 79311
 
S. David Deanda Jr.                                                                  623,579
President
Lone Star National Bank
520 E. Nolana Avenue
McAllen, TX 78504
 
Louisiana Member Director                                         Number of Votes Cast
 
Stephen Panepinto                                                               Unopposed
Chairman, President and Chief Executive Officer
Plaquemine Bank and Trust Company
24025 Eden Street
Plaquemine, LA 70764
 
 
 
 
Independent Director                                                  Number of Votes Cast
 
Rufus Cormier Jr.                                                                        4,300,602
Retired Partner
Baker Botts L.L.P.
910 Louisiana Street
Houston, TX 77002
 
 
As required, Mr. Cormier received at least 20 percent of the votes eligible to be cast in the election to fill the directorship for which he was nominated. Biographical information on the independent director is provided below.
 
If you have any questions regarding the election process, please contact Bre Chapman, Corporate Secretary, at 214.441.8459.
 
Sincerely,

Sanjay K. Bhasin
President and Chief Executive Officer
 
 
 
 
Biographical Information for the Independent Director:
 
Rufus Cormier Jr.
 
Rufus Cormier Jr. is a retired partner of the law firm of Baker Botts L.L.P. in Houston, Texas. As a corporate and banking/ finance lawyer, he specialized in commercial lending, derivatives, securitizations, and asset purchase and sale transactions. Mr. Cormier joined Baker Botts L.L.P. in 1974 and was a partner from 1981 until his retirement in December 2012. Since 1992, he has served on the Board of Visitors of the MD Anderson Cancer Center. Previously, Mr. Cormier served as a commissioner of the Houston City Planning Commission and on the boards of directors of Memorial Hermann Hospital and the Memorial Hermann Healthcare System, St. John's School, the Center for American and International Law, the Texas Business Hall of Fame Foundation and the United Way for the Texas Gulf Coast. He is a past chairman of the board of regents of Texas Southern University, a past vice chairman of the board of directors of the Houston Bar Foundation and a past vice chairman of the American Red Cross (Greater Houston Chapter). Further, Mr. Cormier previously served on the executive committee of the board of directors of the Center for Houston's Future, the executive board of Southern Methodist University's School of Law and the executive committee of the Yale Law School Association. He currently serves as Vice Chairman of the Strategic Planning, Operations and Technology Committee of the Bank’s Board of Directors.