FOR IMMEDIATE RELEASE

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8442

Lee R. Gibson Elected Chairman of Board of Directors of the Federal Home Loan Bank of Dallas

DALLAS, TEXAS, January 18, 2007– The Federal Home Loan Bank of Dallas (Bank) announced that Lee R. Gibson was elected Chairman of the Board, effective January 1, 2007.  He has served as a Bank director since 2002 and is currently serving a second three-year term, which commenced on January 1, 2006.

Mr. Gibson serves as Executive Vice President and Chief Financial Officer with Southside Bank and its SEC registered holding company, Southside Bancshares, Inc., in Tyler, Texas.  At Southside Bank his responsibilities include financial reporting, management of the investment portfolio and funding, while also serving as chairman of Southside’s Asset Liability Committee.  Mr. Gibson has been active in the Texas banking industry for more than 23 years, earned a B.B.A. from Southern Methodist University and is also a Certified Public Accountant. He currently serves in the community as Treasurer of the Executive Board of the East Texas Area Council of Boy Scouts.

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. The Bank, with total assets of $58.2 billion as of September 30, 2006, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank’s website at www.fhlb.com.

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