FHLB Des Moines Announces 2021 Director Election Results
On November 4, 2021, the Board of Directors reviewed the results of the 2021 Member and Independent Director Election. Federal Home Loan Bank of Des Moines is pleased to announce the director terms commencing January 1, 2022.
Member Director Election Results
Alaska- 1 seat available
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| Number of institutions eligible to vote: | 14 | | | |
| Number of institutions who voted: | 12 | | | |
| Total eligible votes per candidate: | 104,846 | | | |
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| Total Votes | Lauren M. MacVay, CEO | Elected - 4 year term |
| 50,978 | True North Federal Credit Union | 01/01/22 - 12/31/25 |
| Juneau, Alaska | | |
| | | |
| Total Votes | David C. Durham, Chief Credit Administrator and EVP |
| 32,102 | Mt. McKinley Bank | | |
| Fairbanks, Alaska | | |
Utah - 1 seat available
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| Number of institutions eligible to vote: | 40 | | | |
| Number of institutions who voted: | 22 | | | |
| Total eligible votes per candidate: | 668,738 | | | |
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| Total Votes | Douglas L. DeFries, President and CEO | Elected - 4 year term |
| 217,602 | Bank of Utah | 01/01/22 - 12/31/25 |
| Ogden, Utah | | |
| | | |
| Total Votes | Matt C. Packard, Chairman of the Board |
| 153,385 | Central Bank | | |
| Provo, Utah | | |
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| Total Votes | Matthew L. Tyler, Corporate Treasurer and SVP | |
| 76,464 | Zions Bancorporation, National Association | |
| Salt Lake City, Utah | | |
On August 13, 2021, in accordance with Federal Housing Finance Agency regulations, Russell J. Lau, John A. Klebba, and Steven L. Bumann were declared elected by the Federal Home Loan Bank of Des Moines (Bank) to serve as member directors on the Bank’s board of directors for four-year terms commencing January 1, 2022. Messrs. Lau, Klebba and Bumann were the only eligible candidates who chose to stand for election and were therefore each elected to fill the one directorship in Hawaii, Missouri and South Dakota, respectively.
Hawaii - 1 seat available (No Election)
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Russell J. Lau, Chairman and CEO | | Elected - 4 year term |
| Finance Factors, Ltd | | 01/01/22 - 12/31/25 |
| Honolulu, Hawaii | | | |
Missouri - 1 seat available (No Election)
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John A. Klebba, Chairman and CEO | | Elected - 4 year term |
| Legends Bank | | 01/01/22 - 12/31/25 |
| Linn, Missouri | | | |
South Dakota - 1 seat available (No Election)
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Steven L. Bumann, Chief Financial Officer | Elected - 4 year term |
| BankWest, Inc. | | 01/01/22 - 12/31/25 |
| Pierre, South Dakota | | | |
Independent Director Election Results
District-wide - 1 seat available
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| Number of institutions eligible to vote: | 1,324 | | | |
| Number of institutions who voted: | 289 | | | |
| Total eligible votes: | 12,522,092 | | | |
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| Total Votes | Siva G. Narendra, Chief Executive Officer | Elected - 4 year term |
| 3,148,787 | tyfone Inc. | 01/01/22 - 12/31/25 |
| 25.15% | Portland, Oregon | | |
Mr. Siva Narendra, Ph.D., has extensive leadership experience, serving as CEO of tyfone, Inc. in Portland, Oregon, and also as co-founder and president of iCashe.
Mr. Narendra possesses substantial project development and organizational management skills that have been utilized through his work as an inventor and overseeing the lifecycle of evangelizing, marketing, sales contract negotiation and implementation of his projects. His foundations in finance and accounting are evidenced from his graduate studies at MIT where Mr. Narendra minored in finance and modeling. He has continuously developed internal controls and risk management strategies within his own companies to meet compliance requirements and his overall business knowledge is exemplary. Mr. Narendra’s knowledge and experience in technology is supported by inventing and developing three technology companies.
Mr. Narendra’s contributions in the areas of diversity and inclusion, operational excellence, and information and technology leadership, as demonstrated by his education, background and experience, are outstanding and meet the qualifications required of an independent director.
