Press Release

For Immediate Release: 
August 28, 2006

Contact:
Nicky Schissel
515.281.1124
nschissel@fhlbdm.com

Federal Home Loan Bank Files 10-Q with SEC

Des Moines, IA – The Federal Home Loan Bank of Des Moines announced today that it filed its second quarter 2006 financial report Friday, August 25, 2006 with the Securities and Exchange Commission (SEC) on Form 10-Q. Detailed information on the Bank’s quarterly results can be found in the 10-Q filing, accessible through the Bank’s website at www.fhlbdm.com, or on the SEC’s website at www.sec.gov.

The Bank also announced today the appointments of two new senior managers for the Bank. Steven K. Schuler has been appointed as senior vice president and chief financial officer. For the last five years, Schuler has been the chief financial officer, secretary and treasurer of Iowa Wireless Services. Prior to that he was corporate senior vice president, chief financial officer, secretary and treasurer of Brenton Banks. Schuler was with Brenton Banks from 1977 until 2001 staying for one year after Brenton Banks was acquired by Wells Fargo in 2000. He will start at the Bank September 18, 2006.

Kelly E. Rasmuson has been appointed director of internal audit and will begin his tenure at the Bank on September 5, 2006. Rasmuson was a director of internal audit for a variety of business areas at the Principal Financial Group including retirement and investor services, insurance, annuities, mutual funds, banking, international, financial and corporate. Rasmuson has 20 years progressive experience in audit, accounting and financial roles.

“With Steve Schuler and Kelly Rasmuson along with Mike Wilson whose appointment as chief business officer was announced earlier, we now have an exceptionally experienced and talented team in place,” stated Richard S. Swanson, who was elected president and CEO of the Bank in June of this year. Mike Wilson was formerly at the Federal Home Loan Bank of Boston where he was senior vice president and chief operating officer.

 

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Statements contained in this announcement, including statements describing the objectives, projections, estimates or future predictions in our operations, may be forward-looking statements. These statements may be identified by the use of forward-looking terminology, such as anticipates, believes, could, estimate, may, should and will or their negatives or other variations on these terms. By their nature forward-looking statements involve risk or uncertainty and actual results could differ materially from those expressed or implied or could affect the extent to which a particular objective, projection, estimate or prediction is realized.

The Federal Home Loan Bank of Des Moines is a wholesale bank that provides low-cost short and long-term funding and community lending to more than 1,200 stockholder commercial banks, saving institutions, credit unions and insurance companies. The Bank is wholly owned by its members and receives no taxpayer funding. The Des Moines Bank serves Iowa, Minnesota, Missouri, North Dakota and South Dakota and is one of twelve regional Banks that make up the Federal Home Loan Bank System.