FHLB Des Moines SlashesDividend

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DES MOINES, Iowa - (10/03/05) -- The Federal Home Loan Bank of DesMoines said last week it halved its third-quarter dividend to just1.40% for the period ended August 31, as the regional FHLB works tobuild its retained earnings. The third quarter payout compared to a3.8% dividend for the second quarter. The dividend will be creditedto members accounts. The Des Moines FHLB is owned by 1,200financial institutions, including 53 credit unions, in theregion.

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