First Bank & Trust announced that it Managing Director and Chief Lending Officer Owen E. Beacom has been elected to serve on the Board of Directors for the Federal Home Loan Bank (FHLB) of Chicago. This $73 billion wholesale bank serves financial institutions that are involved in financing housing. First Bank & Trust is both a customer and a shareholder of the FHLB of Chicago. Mr. Beacom’s four year term as a Board Member begins Jan. 1, 2012.
Financial institutions, primarily banks in Illinois and Wisconsin, were allocated certain levels of votes. Mr. Beacom stated, “Even though I won the election, I am sure most of the votes were in recognition of First Bank & Trust’s outstanding reputation among our peers. I want to thank everyone at First Bank & Trust for working hard, and caring about each other and our customers. The results shine through, and in this case, I benefited greatly.”
Mr. Beacom is the Chief Lending Officer for First Bank & Trust and is a director of the bank and its holding company, First Evanston Bancorp. He has held these positions since 2004. At First Band & Trust, Mr. Beacom is responsible for commercial banking relationships and credit administration. The bank has grown by $360 million to $700 million in total assets since 2004.