Andrew C. Hove, Jr. became acting Chairman of the FDIC
on June 1, succeeding Ricki Helfer who left the Corporation after
more than two and a half years in the agency's top job.
Mr. Hove, who joined the FDIC on July 23, 1990, is
serving his second term as the Corporation's Vice Chairman. He
has served twice previously as Acting Chairman, including a
two-year period following the death of Chairman William Taylor.
"As I assume the job of Chairman again, I am grateful that I
will have the help and support of the FDIC's highly professional
staff," said Mr. Hove. "This Corporation has important work
before it and it will require everyone's best efforts to see the
Mr. Hove, 62, is the former Chairman and Chief Executive
Officer of the Minden Exchange Bank & Trust Company, Minden,
Nebraska, where he served in every department during his 30 years
with the bank.
He was active in the Nebraska Bankers Association and the
American Bankers Association. He was involved in local
government as Mayor of Minden and participated in a number of
He earned his B.S. degree at the University of
Nebraska-Lincoln. He also is a graduate of the University of
Wisconsin-Madison Graduate School of Banking. After serving as
a U.S. naval officer and naval aviator from 1956 to 1960, Mr.
Hove was in the Nebraska National Guard until 1963.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore
public confidence in the nation's banking system. The FDIC insures deposits
at the nation's 11,452 banks and savings associations and it promotes the
safety and soundness of these institutions by identifying, monitoring
and addressing risks to which they are exposed.
FDIC press releases and other documents are available on the Internet via
the World Wide Web at http://www.fdic.gov or through Gopher at gopher.fdic.
gov. They may also be obtained through the FDIC's Public Information
Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703) 562-2200 or 800-276-6003).