August 25, 2016 4:02 PM ET

Thrifts and Mortgage Finance

Company Overview of Federal Home Loan Bank of Des Moines

Company Overview

Federal Home Loan Bank of Des Moines, a member-owned cooperative, provides financial services to its members and eligible housing associates. It offers overnight, fixed rate and variable rate, callable, putable, and community investment advances, as well as advances for mortgage lending, housing and other community lending, and general asset-liability management. The company also provides collateralized loans for secured small business, small agri-business, or small farms; and standby letters of credit to facilitate business transactions with third parties, as well as invests in mortgage loans through the Mortgage Partnership Finance program. In addition, it offers short- and long-term inves...

Skywalk Level

Suite 200

801 Walnut Street

Des Moines, IA 50309

United States

Founded in 1932

271 Employees

Phone:

515-281-1000

Fax:

515-699-1293

Key Executives for Federal Home Loan Bank of Des Moines

Chief Executive Officer and President
Age: 59
Chief Financial Officer and Executive Vice President
Chief Operations Officer and Executive Vice President
Age: 64
Chief Risk Officer and Executive Vice President
Age: 56
Chief Business Officer and Executive Vice President
Age: 50
Compensation as of Fiscal Year 2016.

Federal Home Loan Bank of Des Moines Key Developments

Federal Home Loan Bank of Des Moines Approves Second Quarter 2016 Dividend, Payable on August 11, 2016

Federal Home Loan Bank of Des Moines approved a second quarter 2016 dividend for both the average activity-based capital stock and average membership capital stock outstanding during the quarter. The dividend approved for activity-based capital stock was at an annualized rate of 3.50%. The dividend approved for membership capital stock was at an annualized rate of 0.75%. The dividend is expected to be paid on August 11, 2016. The membership stock dividend of 0.75% is an increase from the previous quarter's 0.50%. The Bank's practice has been to have changes in the membership stock dividend generally track changes in three-month LIBOR over time. Three-month LIBOR has increased over the past year, and accordingly, the Board has approved an increase in the membership stock dividend.

The Federal Home Loan Bank of Des Moines Reports Preliminary Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

The Federal Home Loan Bank of Des Moines reported preliminary unaudited earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company’s net interest income was $94 million against $80 million a year ago. Net income was $232 million against $26 million a year ago. Return on average equity was 15.34% against 2.35% a year ago. Return on average assets was 0.59% against 0.10% a year ago. For the six months, the company’s net interest income was $197 million against $148 million a year ago. Net income was $419 million against $61 million a year ago. Return on average equity was 14.15% against 2.80% a year ago. Return on average assets was 0.55% against 0.12% a year ago.

Federal Home Loan Bank of Des Moines Approves First Quarter 2016 Dividend Payable on May 11, 2016

The FHLB Des Moines Board of Directors has approved a first quarter 2016 dividend for both the average activity-based capital stock and average membership capital stock outstanding during the quarter. The dividend approved for activity-based capital stock was at an annualized rate of 3.50%. The dividend approved for membership capital stock was at an annualized rate of 0.50%. Average three-month LIBOR for the first quarter 2016 was 0.62%. The first quarter dividend payout to shareholders will total $39 million, which represents 20% of net income for the first quarter and 57% of net income for the first quarter when excluding net private-label mortgage-backed securities litigation gains and mandatorily redeemable capital stock interest expense from net income. The dividend is expected to be paid on May 11, 2016.

Similar Private Companies By Industry

Company Name Region
120dB Films, Inc. United States
1st 2nd Mortgage Co.of N.J., Inc. United States
1st Integrity Mortgage, Inc. United States
1st Point Lending, LLC United States
1st Security Home Mortgage Corp. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
NYC2012, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Federal Home Loan Bank of Des Moines, please visit www.fhlbdm.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.