Diversified Financial Services
Company Overview of Federal Home Loan Bank of Des Moines
Federal Home Loan Bank of Des Moines, a member-owned cooperative, provides financial services to its members and eligible housing associates in Iowa, Minnesota, Missouri, North Dakota, and South Dakota. 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 Finan...
801 Walnut Street
Des Moines, IA 50309
Founded in 1932
Key Executives for Federal Home Loan Bank of Des Moines
Chief Financial Officer, Chief Operations Officer and Executive Vice President
Chief Business Technology Officer and Senior Vice President
Chief Risk Officer and Executive Vice President
Compensation as of Fiscal Year 2015.
Federal Home Loan Bank of Des Moines Key Developments
The Federal Home Loan Bank of Des Moines Approves Dividend for the Second Quarter of 2015, Payable on August 13, 2015
Aug 10 15
The Federal Home Loan Bank of Des Moines Board of Directors has approved a second quarter of 2015 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%. The effective combined annualized dividend rate for both subclasses of capital stock outstanding was 2.87%. However, the effective combined dividend rate on the total stock held by each member will depend on their level of activity with the Bank during the second quarter. These dividends will total $25.9 million, which represents 123% of net income for the second quarter, and are expected to be paid on August 13, 2015.
The Federal Home Loan Bank of Des Moines Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 29 15
The Federal Home Loan Bank of Des Moines reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net interest income of $79.7 million against $60.3 million a year ago. Net income was $21.0 million against $27.0 million a year ago. Return on average equity was 1.85% against 3.02% a year ago. Return on average assets was 0.08% against 0.14% a year ago.
For the six months, the company reported net interest income of $148.2 million against $112.7 million a year ago. Net income was $55.6 million against $64.0 million a year ago. Return on average equity was 2.54% against 3.68% a year ago. Return on average assets was 0.11% against 0.17% a year ago. The bank's net income for the quarter and six months was primarily driven by net interest income, other income, and other expense. The increase net interest income for the quarter and six months was primarily due to an increase in interest income resulting from higher average advance and mortgage-backed security volumes.
Federal Home Loan Bank of Des Moines Appoints Steven T. Schuler, Chief Financial Officer to Serve as Chief Operations Officer
Jun 2 15
On May 27, 2015, the Federal Home Loan Bank of Des Moines appointed the Bank's chief financial officer, Steven T. Schuler, to also serve as the Bank's chief operations officer, effective June 1, 2015. On June 2, 2015, following completion of the merger with the Federal Home Loan Bank of Seattle on May 31, 2015, the Bank's board of directors ratified Mr. Schuler's appointment. Mr. Schuler has served as executive vice president and chief financial officer of the Bank since September of 2006.
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