FHLB Des Moines Q1 net income rises to $274M; dividend rates increased on both stock classes

Federal Home Loan Bank of Des Moines

Net income of $274M, up from $191M in Q1 2023; net interest income rose $67M to $349M.
Activity-based dividend rate increased to 9.25% (from 9.00%) and membership to 6.00% (from 3.55%); $147M total payout on May 13.
Advances fell $11.6B to $111B; total assets decreased to $176.3B from $184.4B at year-end 2023.
Return on average equity (annualized) was 11.36% versus 8.51% in the prior-year quarter.
Accrued $30M for Affordable Housing Program assessments and disbursed $20M through Member Impact Fund.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Federal Home Loan Bank of Des Moines reported the first quarter ended March 31, 2024 results: net income $274 million.

Period: the first quarter ended March 31, 2024
Net income: $274 million
Result: reported results

Exact text from the filing

On April 25, 2024 , the Federal Home Loan Bank of Des Moines (the “Bank”) issued a news release to report its financial results for the first quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001325814-24-000077

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