July 12, 2014 9:50 AM ET

Diversified Financial Services

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 in Iowa, Minnesota, Missouri, North Dakota, and South Dakota. It offers advances for mortgage lending, affordable housing and other community lending, and general asset-liability management, as well as for loans to small businesses, small agri-businesses, and small farms. The company also issues standby letters of credit to facilitate business transactions with third parties; provides short- and long-term investment products; and accepts various deposits, including demand, overnight, and term deposits. In addition, it provides funding and liquidity for ...

Skywalk Level

Suite 200

801 Walnut Street

Des Moines, IA 50309

United States

Founded in 1932

213 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: 64
Chief Financial Officer and Executive Vice President
Age: 62
Chief Business Technology Officer and Senior Vice President
Age: 50
Chief Risk Officer and Executive Vice President
Age: 54
Chief Business Officer and Executive Vice President
Age: 48
Compensation as of Fiscal Year 2014.

Federal Home Loan Bank of Des Moines Key Developments

Federal Home Loan Bank of Des Moines Announces Preliminary Unaudited Financial Results for the Quarter Ended March 31, 2014

Federal Home Loan Bank of Des Moines announced preliminary unaudited financial results for the quarter ended March 31, 2014. For the three months ended March 31, 2014, the Bank recorded net income of $37.0 million compared to $27.3 million for the same period in 2013. The Bank's net income was primarily driven by net interest income and other income. The Bank's net interest income totaled $52.4 million for the three months ended March 31, 2014 compared with $53.3 million for the same period last year. The company reported return on average equity of 4.37% against 3.98% for the same period last year. The company reported return on average assets of 0.21% against 0.23% for the same period last year.

Federal Home Loan Bank of Des Moines, 2013 Earnings Call, Mar 25, 2014

Federal Home Loan Bank of Des Moines, 2013 Earnings Call, Mar 25, 2014

Federal Home Loan Bank of Des Moines Announces Preliminary Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Federal Home Loan Bank of Des Moines announced preliminary unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the bank announced net interest income of $58.4 million compared to $56.4 million for the same period a year ago. Net income was $36.7 million compared to $29.9 million for the same period a year ago. Return on average equity was 4.27% compared to 4.27% for the same period a year ago. Return on average assets was 0.20% compared to 0.25% for the same period a year ago. For the year, the bank announced net interest income of $213.1 million compared to $240.6 million for the same period a year ago. Net income was $109.8 million compared to $111.4 million for the same period a year ago. Return on average equity was 3.68% compared to 3.98% for the same period a year ago. Return on average assets was 0.20% compared to 0.23% for the same period a year ago. The primary drivers of the Bank's net income in 2013 were net interest income, a reversal for credit losses on mortgage loans, and other (loss) income. The decrease was in bank's net interest income was due to a decline in interest income resulting primarily from the low interest rate environment.

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