Steven Bumann Elected to Federal Home Loan Bank of Des Moines Board of Directors

STEVEN BUMANN

ELECTED TO FEDERAL HOME LOAN BANK OF DES MOINES BOARD OF DIRECTORS

PIERRE – the Federal Home Loan Bank of des Moines (FHLB des Moines) has announced steven L. Bumann was recently declared elected to the Bank’s board of directors. Bumann will serve as the south dakota member director, serving a four-year term commencing January 1, 2022. He has been a member of the FHLB des Moines board since 2015.

Bumann has served as the CFO of BankWest, inc., in Pierre, sd, since 1995 and has 37 years of banking experience and leadership in the industry.

“i am honored to be elected to the board of directors for FHLB of des Moines,” stated Bumann. “it’s an opportunity to use my experience of accounting, auditing and financial management to help guide decisions made by the board.”

Federal Home Loan Bank of des Moines is one of 11 regional banks that make up the Federal Home Loan Bank (FHLBank) system. established by Congress in 1932 to support mortgage lending, the FHLBanks are a stable source of funding for more than 7,300 federally insured depository institutions of all sizes and types. FHLB des Moines board of directors is comprised of both member and independent directorships from 13 states and three U.s. Pacific territories.

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