FHLBank Chicago Director Elections

James H. Hegenbarth is a bank executive who has been in the industry since 1985 and is currently serving as President and Director of Bank CMG, formerly Greenwoods State Bank, Madison, Wisconsin.  Mr. Hegenbarth is also a member of the board of directors of Greenwoods Financial Group, Inc.  He served as President/CEO and Board member of Park Bank, Madison, Wisconsin from August 1991 to January 2024.  Prior to Park Bank, Mr. Hegenbarth was employed by First Bank N.A. (now U.S. Bank).  Mr. Hegenbarth was recognized as the Wisconsin Bankers Association (WBA) Banker of the Year for 2020.  He has served in the WBA Board of Directors and Government Relations Committee, the American Bankers Association FHLB committee, American Family Children’s Hospital at University of Wisconsin Board, and held numerous other leadership positions on non-profit and civic organizations in the Dane County, Wisconsin area.  Mr. Hegenbarth is a graduate of the Graduate School of Banking at the University of Wisconsin-Madison and earned his undergraduate degree in Economics from the University of Wisconsin-Madison.

Bradley J. Schroeder 
Chairman,
President & Chief Executive Officer
DMB Community Bank

Bradley J. Schroeder is the Chairman, President and Chief Executive Officer of DMB Community Bank, an $830 million commercial bank headquartered in Madison, Wisconsin. He has led the Bank and its holding company since 2006, guiding it through multiple economic cycles with a focus on prudent risk management, expense discipline, and long-term stability. 

A seasoned financial executive, Brad has more than 25 years of community banking experience. He has built his reputation on funding low-risk, high-quality loans, maintaining strong capital levels, and implementing innovative expense management strategies, including rightsizing branch networks and turning real estate holdings into productive earning assets. His leadership philosophy is centered on ethics, transparency, and rewarding talent. 

Beyond his work at DMB, Brad contributes his expertise as a director for Wisconsin Mutual Insurance Company, bringing a unique insurance industry perspective to the banking sector. He also served as President of the DeForest Area Chamber of Commerce and the DeForest Area Foundation, where he demonstrated his commitment to community growth and integrity in leadership. 

Brad earned his Bachelor of Science in Finance from the University of Wisconsin–La Crosse and his MBA from Edgewood College. He also taught graduate-level Managerial Finance as an Adjunct Faculty member at Cardinal Stritch University for six years. 

On the personal side, Brad has been happily married for 26 years and is the proud parent of three talented adult children. He believes the same principles that guide a strong family (trust, integrity, and commitment) are what make for strong leadership in banking. 

As a candidate for the FHLBank Chicago Member Director position, Brad is committed to ensuring the Bank continues its critical role in supporting community financial institutions and insurance companies. He will bring a proven record of conservative, ethical leadership, combined with deep financial expertise and a passion for strengthening community-focused institutions.

Phyllis Lockett 
CEO
LEAP-X

Phyllis Lockett has led major transformation efforts across education, housing, transportation, and business. She is currently CEO of LEAP-X, an education innovation consultancy designing solutions for the future of learning. 

Previously, Ms. Lockett was the founding CEO of LEAP Innovations, a national nonprofit that partners with educators and technology companies to research, pilot, and scale instructional models and tools that advance student learning. Before that, she served as the founding President and CEO of New Schools for Chicago, a venture philanthropy through which she led the investment in, and launch of, 80 new public schools.

Earlier in her career, Ms. Lockett was Executive Director of the Civic Consulting Alliance, a pro-bono consulting firm sponsored by the Civic Committee of the Commercial Club of Chicago. In that role, she helped lead major initiatives for the City of Chicago, Chicago Public Schools, the Chicago Transit Authority, and the Chicago Housing Authority. She played a pivotal role in the Chicago Housing Authority’s $1.5 billion Plan for Transformation, advising on organizational planning, resident relocation, capital construction, asset management, and economic development strategies.

Her prior corporate experience includes sales, marketing, and business development roles at IBM, Kraft Foods, and General Mills.

Ms. Lockett currently serves as a director of CME Group, Federal Home Loan Bank of Chicago, advisor to GSV Ventures, and board chairperson of Noble Schools. She has also served on the boards of The Economic Club of Chicago, The Chicago Network, Adler Planetarium, SAGA Education, and ISTE+ASCD.

She earned a Master of Management from Northwestern University’s Kellogg Graduate School of Management and a Bachelor of Science in Industrial Engineering from Purdue University.

Mary Wright

Mary Wright served as President of the Wisconsin Housing Preservation Corp., Madison, WI from 2016-2025 and was responsible for the organization’s growth, leadership team, and management of over $690 Million of affordable housing assets with $115 Million of annual revenue.  During her tenure, WHPC became the largest owner of affordable housing in Wisconsin with over 9,000 units located in 57/72 counties.  Additionally, she restructured WHPC as an employee managed organization to ensure financial stability and control of operations and achieving a Standard and Poor’s rating of AA-.

Prior to joining WHPC, Mary held executive lending positions at Wells Fargo and Johnson Bank, developing client relationships, providing financial solutions, and expanding market share in both commercial and industry sectors, commercial real estate and community development.  Mary expanded community investment at Johnson Bank, working as a lead partner in developing the New Markets Tax Credit program, achieving $174 million for the bank through a nationwide competition offered by the CDFI fund.

Mary also served as Director of Multifamily at the Wisconsin Housing and Economic Development Authority overseeing a division responsible for lending, tax credit allocation, risk management, compliance and policy development.  Earlier in her career she held many other positions at WHEDA including disposition of real estate assets, underwriting, asset management and Manager of the Multifamily Development team.

Mary has served and continues to serve on multiple boards including WHPC, Impact Seven with prior board experience at Group Health Cooperative southwest, Journey Mental Health, and Forward Community Investments (FCI).

Mary graduated from the University of Wisconsin La Crosse with a B.S. in Business Administration and continued her Executive Education at the University of Wisconsin. She also attended the Graduate Banking School at Southern Methodist University.