On Thursday, October 2, 2014, FHLB Des Moines held a conference call updating members on the current and future state of the potential merger with FHLB Seattle. 

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On September 25, 2014 a definitive agreement to merge was signed by the Des Moines and Seattle Banks’ boards of directors. Material details of the merger agreement are included in the Banks’ related Form 8-K filings with the Securities and Exchange Commission. 

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Voting in the Federal Home Loan Bank of Des Moines (FHLB Des Moines) 2014 Director Election has begun. Electronic ballots were distributed to all eligible voting members on September 23, 2014. Through the election process, members in the states of Minnesota and South Dakota will each fill one member director seat in their respective states. Through a district-wide election, members in all five states will fill two independent director seats. One of the two independent directorships to be filled is designated as a “public interest” independent director. 

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The FHLB Des Moines Board of Directors approved a second quarter 2014 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 percent. The dividend approved for membership capital stock was at an annualized rate of 0.50 percent.

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The nomination period for the annual Federal Home Loan Bank of Des Moines Board of Directors closed on August 1, 2014. Based on Federal Housing Finance Agency designations for Bank directors, member director elections will take place in the states of Minnesota, North Dakota and South Dakota and members in... Read More
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