San Francisco FHLB Hunts for New CEO After US Banking Turmoil

The Federal Home Loan Bank of San Francisco, which had propped up several banks with multibillion-dollar loans before their collapses this year, will part ways with its chief executive officer.

A search committee has been formed to replace 64-year-old Teresa Bryce Bazemore when her term ends in March 2024, the bank’s board of directors said in a statement. In a federal filing made public Thursday, the San Francisco FHLB said it decided not to renew the employment agreement on July 28. Bazemore received compensation worth $2.4 million in 2022, much of it in bonuses.

The FHLB system, almost ...