FHLB Des Moines Declares Elected Member Directors in ID, ND and WY

last updated on Friday, August 17, 2018 in Business News

The nomination period for the 2018 Federal Home Loan Bank of Des Moines (FHLB Des Moines) Director Election concluded effective August 2, 2018. Based on Federal Housing Finance Agency (FHFA) designations for Bank directors, the states of Idaho, North Dakota and Wyoming each had one member director seat to fill.

This year, each of the three states with an open member directorship had only one eligible candidate who chose to stand for election in their respective state. Therefore, in accordance with FHFA regulations, David Bobbitt, chairman and CEO at Community 1st Bank in Post Falls, Idaho; Karl Bollingberg, director of lending at Alerus Financial, National Association in Grand Forks, North Dakota; and David Ferries, vice president at First Federal Bank & Trust in Sheridan, were each declared elected to serve on the Bank’s board for a four-year term each commencing January 1, 2019.

Mr. Bobbitt and Mr. Ferries are incumbent member directors representing the states of Idaho and Wyoming respectively. In 2019, Mr. Bobbitt will begin serving his second term and Mr. Ferries will begin serving his third term. Mr. Bollingberg will begin serving his first term as a member director representing the state of North Dakota.   

Two independent director seats will also be filled in 2018 through a district-wide election. Ballots will be distributed to all eligible voting members for voting in the independent director election on September 27, 2018.

If you have any questions regarding the FHLB Des Moines director election, please contact Dara Queck, SVP/Officer, Member and Financial Operations, at dqueck@fhlbdm.com.

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