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2017 Director Election Results

Bulletin No.: 2017-27
November 9, 2017


SUBJECT: Director Election Results

The Federal Home Loan Bank of Dallas (Bank) is pleased to announce the results of the 2017 election for five positions on the Bank's Board of Directors (Board), which consisted of two independent directorships and three member directorships – one representing Texas, one representing Arkansas and one representing Louisiana. Each directorship has a four-year term commencing January 1, 2018 and expiring December 31, 2021. There were no member director seats to be filled this year for the states of Mississippi or New Mexico.

James D. Goudge was re-elected as a Texas member director. Michael C. Hutsell and Albert Christman were the sole candidates for the Arkansas and Louisiana directorships, respectively. They were deemed elected without further action. Sally I. Nelson and George Granger MacDonald were re-elected as independent directors. Neither independent director seat was designated a public interest directorship. 

The total number of votes eligible to be cast in the election for independent directors was 4,709,727. The total number of votes eligible to be cast for the Texas member director seat was 2,915,320. For the Texas member director seat, a total of 102 valid ballots were received, and for the independent director seats a total of 164 valid ballots were received.  

The detailed results of the election were as follows:

Texas Member Director                                                Number of votes

James D. Goudge                                                                      641,345
Chairman and CEO
Broadway Bank
1177 N.E. Loop 410
San Antonio, TX  78209

S. David Deanda Jr.                                                                   215,059
Lone Star National Bank
520 E. Nolana Avenue
McAllen, Texas 78504

Arkansas Member Director                                         

Michael C. Hutsell                                                          Sole Candidate 
First Security Bank
314 N. Spring Street
Searcy, AR 72143

Louisiana Member Director                                         

Albert C. Christman                                                        Sole Candidate
President and CEO
Guaranty Bank & Trust Company of Delhi
120 Oak Street
Delhi, LA 71232

Independent Director

Sally I. Nelson                                                                          975,030
Chief Executive Officer
Nextwave Ventures
70A Sunset Lake Road
Huntsville, TX 77340

George Granger MacDonald                                                    962,590
Chief Executive Officer
MacDonald Companies
2951 Fall Creek Road
Kerrville, TX 78028

As required, Ms. Nelson and Mr. MacDonald received at least 20 percent of the votes eligible to be cast in the election in order to fill the directorship for which they were nominated. Biographical information on the independent directors is provided below.

If you have any questions regarding the election process, please contact Bre Chapman, Corporate Secretary, at 214.441.8459.



Sanjay K. Bhasin
President and Chief Executive Officer


Biographical Information for the Independent Directors:


Sally I. Nelson

Sally I. Nelson is currently serving as chairperson and CEO of Nextwave Ventures. Prior to this, Ms. Nelson served as CEO and President of Huntsville Memorial Hospital from 2008-2013. She remained on as chairperson of the Huntsville Memorial Hospital Foundation from 2013-2016. From 1986-2004, Ms. Nelson served as EVP, CFO and CIO of Texas Children's Hospital. In this position, she also served as CEO of Texas Children's Insurance Co. During this time, Ms. Nelson served on the boards of United Way of Houston, The American Red Cross and SEARCH, an inner-city organization that assisted the homeless and The Greater Houston Partnership.Ms. Nelson is a Certified Public Accountant. Her areas of expertise include accounting, financial management and organizational management.

George Granger MacDonald

George 'Granger' MacDonald is chairman and CEO of three multifamily property management and development companies based in Kerrville, Texas:  MacDonald Property Management, LLC, MacDonald & Associates, Inc. and G.G. MacDonald, Inc. Mr. MacDonald has developed over 50 multifamily apartment communities throughout Texas during four decades in construction and development.  His areas of expertise include financial management, organizational management and project management. Mr. MacDonald is a founding member of the Texas Affiliation of Affordable Housing Providers and he currently serves as chairman of the board of the National Association of Home Builders. Additionally, he is a member of the Texas Association of Builders, the Hill Country Builders Association, Greater San Antonio Builders Association and the Home Builders Association of San Angelo. Mr. MacDonald also currently serves on the board of trustees for Schreiner University.