Cindy Konich retired from the Federal Home Loan Bank of Indianapolis, effective Sept. 30. The bank’s Board of Directors named Brendan McGrath as its new president and CEO, effective Oct. 1.
Konich joined FHLBI in 1984 as a cash manager, serving in a number of roles over the course of her 41-year tenure with the bank, including executive vice president, chief operating officer and chief financial officer. She was named president and CEO on July 22, 2013. Under her 12-year leadership tenure, the bank’s assets grew to $91 billion. Last year, the bank returned $77 million – 17.5% of annual net earnings, a record high – to its affordable housing programs.
McGrath started at the bank in 2000 as an investment operations analyst. Over the past quarter-century, he has served in numerous roles, including vice president, director of credit risk analysis; senior vice president, chief analytics officer; senior vice president, chief risk officer; and most recently, executive vice president, chief risk and compliance officer. McGrath earned his bachelor’s degree and an MBA from the Indiana University Kelley School of Business. He is also a certified public accountant and chartered financial analyst.
