2006 10-K Filed

This morning FHLB Des Moines filed its 10-K with the Securities and Exchange Commission (SEC). The 10-K is the Bank’s very extensive and detailed financial report for 2006. You can view the report at www.fhlbdm.com or www.sec.gov.

The Bank’s total assets were $42 billion at December 31, 2006 compared to $45.7 billion at year end in 2005. Average assets decreased to $43.8 billion in 2006 from $47.2 billion in 2005. The Bank’s advance portfolio decreased to $21.9 billion at December 31, 2006 from $22.3 billion at December 31, 2005, or approximately 2 percent. Average advances decreased to $22.2 billion in 2006 from $25.7 billion in 2005.

All of the 12 Federal Home Loan Banks have completed their SEC filing requirements and so the Federal Housing Finance Board Office of Finance is releasing the System’s Combined Financial Reports which can be accessed at www.fhlb-of.com. Please contact us if you would like a printed copy of the report.

Annual Reports Focus on Members

Be on the lookout for the Bank’s two annual reports. We will mail the Annual Bank's Report and the annual Affordable Housing Advisory Council Report to you next week. Both reports are member-centered with many ideas that you can adapt to your bank and community. The annual report focuses on our members and the role the Bank plays in supporting your business plans. The Advisory Council report captures a number of tips on community economic development.

Missouri Banker Joins Three Re-elected Board Directors

Dale Oberkfell, president and chief operating officer (COO) of Reliance Bank in Frontenac, Missouri, was elected to a three-year term on the Bank’s Board. With nearly 30 years of financial experience, Dale has held a variety of banking positions. In May 2005, he joined Reliance as president and COO and also serves as executive vice president of Reliance Bank’s holding company, Reliance Bancshares, Inc. He is a licensed Certified Public Accountant and is active in the American Institute of Certified Public Accountants.

Full article >

Affordable Housing Advisory Council Welcomes Four New Members

The Affordable Housing Advisory Council for FHLB Des Moines advises the Bank on housing and economic development programs and needs. Advisory council members are a diverse group of people from across FHLB’s five-state district of Iowa, Minnesota, Missouri, North Dakota and South Dakota and typically have an extensive housing and economic development background. Paul Rechlin, executive director of CommunityWorks North Dakota in Bismarck was re-appointed to another three-year term on the advisory council and we are very pleased to welcome the following new members whose three-year terms began in January.

Full article >


NOTE: To find out more about Advancing Your Success®, our quarterly newsletter, click here or log on to www.fhlbdm.com and select Publications, Advancing Your Success.

About FHLB Des Moines
The FHLB Des Moines is a wholesale cooperative bank that provides low-cost short and long-term funding and community lending to more than 1,200 members, including commercial banks, saving institutions, credit unions and insurance companies. The Bank is wholly owned by its members and receives no taxpayer funding. The Des Moines Bank serves Iowa, Minnesota, Missouri, North Dakota and South Dakota and is one of twelve regional Banks that make up the Federal Home Loan Bank System.

© 2007, Federal Home Loan Bank of Des Moines. Your Access and use of this site confirms that you agree to the Terms Of Use. All Rights Reserved. Federal Home Loan Bank of Des Moines, Skywalk Level, 801 Walnut Street, Suite 200, Des Moines IA, 50309; 800.544.3452. Advancing Your Success® is a registered trademark of the Siegfried Group, LLC, and is under license.

Bank News

SEC Filings

All of the Bank's financial reports and SEC filings may be viewed on the SEC website at www.sec.gov or linked from the Bank's website at www.fhlbdm.com.

FHLB Des Moines Calendar of Events

Spring Regional Workshops
Below are a list of upcoming dates and locations for our 2007 Spring Regional Workshops.

For more information or to register, visit www.fhlbdm.com and select the right hand link "Maximize Your Membership."

Monday, April 16, 2007
Coralville, IA
Coralville Marriott Hotel & Conference Center
300 East 9th Street, Coralville, IA 52241

Tuesday, April 17, 2007
West Des Moines, IA
Sheraton West Des Moines
800 50th Street, West Des Moines, IA 50266

Wednesday, April 18, 2007
Sioux Falls, SD
Sheraton Sioux Falls Hotel & Convention Center
1211 North West Ave, I-29 Exit 81, Sioux Falls, SD 57104

Coming Up

Easter Holiday Financial Planning Schedule
On Friday, April 6, 2007 the bond market will close at 9:30 a.m. CDT. The market’s early closing impacts the Bank’s product availability and pricing and the only advances we will offer on Friday, April 6 will be Fed Funds advances and Fed Funds repayments. Fed Funds advance requests may be made through eAdvantage or by contacting the Money Desk as normal. Please note the following:

• The Mortgage Partnership Finance® Delivery Commitment and Funding window will be closed on Friday, April 6.
   

• Wire transfers will follow normal business hours on Friday, April 6.

The Bank will resume offering its normal product array on Monday, April 9, 2007. Please contact the Money Desk at 800.544.3452 ext. 1013 with questions.