An executive from a Missouri bank has been elected as chairman of the Federal Home Loan Bank of Des Moines.

Dale Oberkfell's two-year term as chairman will begin Jan. 1, the Federal Home Loan Bank of Des Moines said Friday. Michael Guttau, chief executive and chairman of Treynor State Bank in Iowa, had served as chairman since 2003.

Oberkfell has held a variety of banking positions during his almost 30 years in the financial services industry. He is currently chief financial officer at the $1.1 billion-asset Midwest BankCentre in Lemay, Mo. He was previously the CFO of the $996 million-asset Reliance Bancshares in Des Peres, Mo., and the president and chief operating officer of Reliance Bank.

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