Heartland State Bank Congratulates FHLB Des Moines on 90 Years!

last updated on Wednesday, November 9, 2022 in Community News

This article was originally published by the South Dakota Bankers Association in their SDBANKER Magazine

90 years ago, at the height of the Great Depression, the Federal Home Loan Bank Act of 1932 created the Federal Home Loan Bank System.  Nine decades later, now serving 6,500 members including many from across South Dakota, we can look back on the years of providing liquidity to local lenders like Heartland State Bank with pride. So, what is it about our membership at FHLB Des Moines that we can be proud of? Why are we celebrating 90 years of FHLB Des Moines service?

FHLB Des Moines keeps the ag machine working

Heartland Sate Bank is an ag bank. In the area of the state we support, we don’t have a lot of other industry besides farming. As we say, “So that’s the way our community goes”. FHLB Des Moines plays a pivotal role in our ability to support ag customers. We frequently use FHLB Des Moines advances to offer longer-term fixed loans with optionality for land expansion, new shops or equipment upgrades. Maybe our competitors can provide credit products, but we can provide a customized loan tailored specifically to their needs. FHLB Des Moines advances give us that flexibility.

FHLB Des Moines keeps liquidity flowing

FHLB Des Moines is one of the primary tools in our toolbox to give Heartland State Bank the confidence to keep lending. FHLB Des Moines has always been there for us and without access to the Bank’s contingent liquidity, it would be very difficult to continue doing what we are doing. In turn, our ag customers would end up with higher rates and, in some cases, making the loan- and farm improvements- out of reach. Our membership in the FHLBank System brings the national financial system to the main street level. While we are not at the top of the list for advances in terms of dollars borrowed, the value of each dollar to our community is incredibly impactful and hard to quantify. FHLB Des Moines keeps ag loan pricing fair for our customers and ensures community banks can keep their doors open in rural areas.

FHLB Des Moines keeps community banks in their community

Heartland State Bank is there to help people achieve their financial dreams. Each community, each family, each person has a different vision of what those dreams entail. For some it’s a new house, others an expanded farm operation or the start of a small business. Heartland State Bank and many community banks across the state know exactly how to help our customers achieve their dreams and can advocate on their behalf. There are times when it is difficult for our hardworking customers to qualify for more traditional credit products, but because we know them and their history we can customize a solution that works for them. We are proud to show up and are committed to staying connected to our communities.

FHLB Des Moines is celebrating a huge milestone and Heartland State Bank is very excited for the Bank and all its members.  While congratulations are definitely in order, I would also like to extend a big “thank you” to the FHLBank System. Without our partnership with FHLB Des Moines, we would find it difficult to survive and thrive. Congratulations on 90 years! We are proud to call ourselves members of the Federal Home Loan Bank of Des Moines.  

Article Submitted By: 

Paul Domke


Heartland State Bank

  1. 90th Anniversary