FHLBank Chicago Welcomes New Board Leadership for 2022-2023

  • January 3, 2022

The Federal Home Loan Bank of Chicago (FHLBank Chicago) welcomes our new elected leaders of the Board of Directors for 2022-2023. James T. Ashworth has been elected Chairperson of the Board, along with Joseph Fazio III to serve as Vice Chairperson of the Board and Michelle L. Gross to serve as Vice Chairperson – Elect. Mr. Ashworth has been a member of the FHLBank Chicago Board of Directors since 2013.  Mr. Fazio has been a Board Director since 2017 and Ms. Gross has been a Board Director since 2015.

James T. Ashworth is Vice Chairperson of CNB Bank & Trust, N.A. Mr. Ashworth joined CNB Bank & Trust, N.A. in 1978 and has served in many capacities, including as Vice Chairman since 1989 and as President and CEO from 1989 to 1997, as well as serving as Vice Chairman and President and CEO of its holding company, CNB Bank Shares, Inc. since 1989. Mr. Ashworth served as Chairman of the Community Bankers Association of Illinois (CBAI) and as an elected director of the Independent Community Bankers of America, on the state association's Legislative Committee and the national association's Regulation Review Committee; he was named CBAI's "Outstanding Member" in 1995.

Joseph Fazio III is Co-founder, Board Chairman and CEO of Commerce State Bank, which opened in 2005. Mr. Fazio also serves as a director of the bank’s holding company, Commerce Financial Holdings, Inc. Prior to founding Commerce State Bank, Mr. Fazio led a privately-held marketing company from 2002 to 2004, was Director of Corporate Marketing for Metavante (now FIS) from 1998 to 2002, led Personal Trust Administration for M&I Trust Company (now BMO) from 1995 to 1998, and held several management positions with IBM from 1983 to 1995.

Michelle L. Gross has served as Executive Vice President/Chief Operating Officer, Information Systems Officer, and Director of the State Bank of Bement in Bement, Illinois since 2012, in addition to being Community Bank President of the State Bank of Bement-Monticello facility. She has worked at the State Bank of Bement since 1996 in roles with increasing responsibilities, including as Vice President and Information Systems Officer from 2008 to 2012. Ms. Gross currently serves as a director at the State Bank of Cerro Gordo in Cerro Gordo, Illinois and Bement Bancshares, Inc. in Bement, Illinois. She is a former director at The First National Bank of Ivesdale in Ivesdale, Illinois. Ms. Gross currently serves as the Chairperson of the Illinois Bankers Association.

We are grateful to our former Chairperson of the Board, John Reinke. Mr. Reinke joined the Board in 2012 and has served as Chairperson of the Board during 2020 and 2021. 

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Director, Communications 

Heather Bockstruck
Assistant Director, Communications