The Bazemore Update

Dear Valued Members,

Photo of Teresa Bazemore

As the new President and CEO of FHLBank San Francisco, I’d like to be the first to welcome you to the Bazemore Update. In this section of our member newsletter, I look forward to sharing industry insights and a look behind the curtain at FHLBank San Francisco as we navigate the constant state of change our industry can expect as we move toward a post-pandemic era. 

Our cooperative is here to provide you with reliable access to low-cost liquidity, to deliver essential financial services and expertise for members of all types and sizes, and to supply vital resources for affordable housing and economic development. 

At our core, we’re about being here for our members in all economic cycles and, equally important, helping members provide economic opportunity for the customers and communities you serve. 

As we emerge from a pandemic no one saw coming and the economic aftershocks that will  be felt for years to come, resilience is needed now more than ever – to help get our economy moving and to help those at risk of being left behind. The urgency of our purpose is as strong today as it was when the FHLBank System was established in 1932. 

In this issue of Bank Notes, you’ll find a variety of articles with useful information about the industry and what we’re doing at our FHLBank for our members and those you serve. In these pages, I invite you to learn more about:

  1. FHLBank San Francisco’s plans to assist with the migration from LIBOR of our members’ mortgage loan collateral portfolios.
  2. eNotes – What they are and how members can get ready to pledge eNotes to the Bank. 
  3. The steady rise in members using FHLBank San Francisco’s Letter of Credit product for Public Unit Deposits and the many benefits.
  4. Key financial trends from member banks including Loan-to-Deposit Ratios, Net Interest Margins, Efficiency, and Yield Curve.
  5. Our recent announcement about members participating in our WISH and IDEA first-time homebuyer matching grant programs.
  6. Our plans for returning to the office and the “new normal” in a conversation with the Bank’s head of Business Continuity.

I couldn’t be more excited to join this Bank during a time when FHLBank San Francisco’s purpose and mission are so essential. Certainly many challenges lay ahead as we put COVID-19 in the rearview mirror, but I’m certain that the team here is up to the task of supporting the growth and financial performance of our member institutions and aiding in economic recovery that helps everyone.  

Thank you for your membership and ongoing engagement with our Bank. I look forward to getting to know you and to discussing how FHLBank San Francisco can help you propel your business forward while strengthening our communities. 


Teresa Bazemore
President and CEO

April 28, 2021 | FHLBank San Francisco