FHLBank San Francisco Promotes Tom Dapice to Lead Community Investment
Event summary
- Tom Dapice promoted to Senior Vice President and Community Investment Officer at FHLBank San Francisco, effective February 1, 2026.
- Dapice succeeds Eric Cicourel, who is retiring, bringing two decades of experience at the bank.
- Dapice previously managed homeownership and economic development programs, delivering over $250 million in grants.
- He will oversee affordable housing and economic development programs, including AHP, WISH, MDPA, and AHEAD.
The big picture
The leadership transition at FHLBank San Francisco underscores the strategic importance of community investment in the Western U.S. housing market. With affordable housing challenges persisting in Arizona, California, and Nevada, the bank's programs play a critical role in regional economic resilience. Dapice's deep institutional knowledge suggests continuity, but his risk-management background may introduce new priorities in grant allocation and program design.
What we're watching
- Program Continuity
- How Dapice will maintain momentum in affordable housing and economic development programs following Cicourel's retirement.
- Grant Allocation
- Whether the bank can sustain the pace of $250 million in grants under new leadership.
- Strategic Alignment
- The extent to which Dapice's risk-management perspective will shape future community investment strategies.
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