Press
Release
For Immediate Release:
November 9, 2006
Contact:
Angie Richards
515.281.1014
arichards@fhlbdm.com
Lynn Schneider Re-elected to Home
Loan Bank’s Board of Directors
South Dakota banker to fill
second three-year term on Bank board
(Des Moines, Iowa) – The Federal
Home Loan Bank of Des Moines
recently held its 2006 director
elections for open seats on its
board of directors. Lynn Schneider,
president and chief executive
officer (CEO) of American Bank &
Trust in Huron, South Dakota, was
recently elected to his second term
on the Bank’s board. Mr. Schneider
was the only eligible candidate from
the state of South Dakota who chose
to stand for election. Therefore, in
accordance with Federal Housing
Finance Board regulations, the Bank
has declared Mr. Schneider elected
to the board for a three-year term
beginning January 1, 2007.
Mr. Schneider has over 30 years of
experience in the banking industry
and has served as president and
chief executive officer of American
Bank and Trust since 2002. Prior to
that, he was president, chairman,
chief executive officer and regional
manager of Marquette Bank in Huron.
Mr. Schneider also served for 11
years as president, chief executive
officer and chairman of the board of
Farmers and Merchants Bank, also
located in Huron.
Active in several civic
organizations, Mr. Schneider is
currently chairman of the board of
William Griffith Foundation, Inc. He
is also vice chairman of the board
of the Mennonite Brethren
Foundation, Inc. and serves on the
boards of Bethesda Church of Huron,
Huron University Foundation, Huron
Regional Medical Center, the Huron
Community Revolving Loan Fund and
Huron Crossroads, Inc.
The Home Loan Bank’s board of
directors is comprised of both
industry and public interest
directors from Iowa, Minnesota,
Missouri, North Dakota and South
Dakota. Bank members elect the
industry directors while the Federal
Housing Finance Board, the Bank’s
Washington, DC based regulator, is
responsible for appointing the
public interest directors from both
the public and private sector. As a
$43 billion financial institution,
the Home Loan Bank provides low-cost
funding to more than 1,200 member
banks, thrifts, credit unions and
insurance companies for housing and
community credit needs.
Dale Oberkfell, president and chief
operating officer of Reliance Bank
in Des Peres, Missouri, was elected
to his first term on the Bank’s
board of directors while D.R.
Landwehr, president and CEO of
Community Bank of Missouri in
Richmond, Missouri and Clair J.
Lensing, president and CEO of
Security State Bank in Waverly,
Iowa, were re-elected to their
second terms. Each director will
serve a three-year term beginning
January 1, 2007.
