David M. Applegate, chairman, president, and chief executive officer of GMAC Mortgage Corp., has been elected to the board of directors of the Federal Home Loan Bank of Pittsburgh.Mr. Applegate was elected to a "non-guaranteed" Delaware directorship based on the FHLBank's level of capital stock holdings, the Pittsburgh bank said. In addition to his titles at GMAC Mortgage, Mr. Applegate is chairman of GMAC Bank, Horsham, Pa.; president of GMAC Residential; and chairman of GMAC Home Services. The FHLBank also elected a second new director, Gerard M. Thomchick, who is senior executive vice president and chief operating officer of First Commonwealth Financial Corp., Indiana, Pa.
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