FHLB Des Moines is pleased to announce that its Board of Directors recently elected its Chair and Vice Chair for two-year terms beginning January 1, 2008. Michael K. Guttau, Chairman and President of Treynor State Bank in Treynor, Iowa, was elected Chair and Dale E. Oberkfell, President and COO of Reliance Bank in Frontenac, Missouri was elected Vice Chair.
The Bank is also pleased to announce the results of the 2007 directors’ election for the open seats on the 2008 Board. There were no open seats in Iowa or South Dakota; therefore we did not hold elections in these states. The results for the other states electing directors are as follows: Missouri — 1 seat available
Number of institutions eligible to vote: 334
Number of institutions who voted:
165
Total eligible votes per candidate:
1,701,326
Total votes cast:
803,239
Joseph C. Stewart III (340,769 votes), elected – 3 year term 01/01/08 – 12/31/10 CEO Bank Star 1999 W. Osage Pacific, MO 63069
Greg Bynum, President (337,899 votes) First Community Bank 301 SE Main Street Lee’s Summit, MO 64063
Daniel Katzfey (124,571 votes) President & CEO First Home Savings Bank 142 E. 1st Street Mountain Grove, MO 65711
North Dakota — 1 seat available
Number of institutions eligible to vote: 65
Number of institutions who voted:
44
Total eligible votes per candidate:
271,765
Total votes cast:
208,144
Eric Hardmeyer (173,705 votes), elected – 3 year term 01/01/08 – 12/31/10 President & CEO Bank of North Dakota 700 E. Main Avenue Bismarck, ND 58506
Kim Larson (34,439 votes) President & CEO First State Bank of North Dakota 340 Main Street Arthur, ND 58006
Minnesota – 1 seat available (No Election)
Michael J. Finley, elected – 3 year term 01/01/08 – 12/31/10 President Janesville State Bank 201 N. Main Street Janesville, MN 56048
On August 14, 2007, Michael J. Finley was declared re-elected by the Bank to its Board of Directors for a three-year term commencing January 1, 2008. The directorship was filled without an election because only Mr. Finley accepted nomination for the one Minnesota directorship. Mr. Finley was declared elected to the Board in accordance with the rules governing the election of Federal Home Loan Bank directors specified in the Federal Home Loan Bank Act of 1932, as amended, and the related regulations of the Federal Housing Finance Board.
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