FHLB Des Moines awards $41.3 Million in grants

The Federal Home Loan Bank of Des Moines has given approximately $41.3 million to 63 affordable housing projects across its 13-state district through partnerships with financial institutions and local housing organizations.

From construction of new affordable housing to the rehabilitation of existing homes and rental properties, the funds will benefit low-income families, seniors, persons with disabilities, homeless and at-risk youth.

“Our members understand the importance of addressing the dire need for affordable housing in their communities, particularly during this especially challenging COVID-19 environment,” said Kris Williams, president and CEO of FHLB Des Moines. “Thanks to the continued support of our member institutions, the Affordable Housing Program has financed the development of thousands of accessible housing units for three decades. This is a significant impact, and we are looking forward to continuing this positive momentum for decades to come.”

Since the program’s inception in 1990, FHLB Des Moines members have partnered with housing organizations to invest over $740 million in Affordable Housing Program awards to help more than 120,000 families and individuals in find safe and affordable housing.

Bank participants in the 2020 Competitive Affordable Housing Program awards include:

  • Iowa State Bank, Sac City, Iowa
  • NSB Bank, Mason City, Iowa
  • Hills Bank and Trust Company, Hills, Iowa
  • Keystone Savings Bank, Marengo, Iowa
  • Cedar Rapids Bank and Trust Company, Cedar Rapids, Iowa
  • Woodlands National Bank, Hinckley, Minn.
  • Bell Bank, Fargo, N.D.
  • North Shore Bank of Commerce, Duluth, Minn.
  • Sunrise Banks, N.A., Saint Paul, Minn.
  • Midwest Bank, Detroit Lakes, Minn.
  • Financial Security Bank, Kerkhoven, Minn.
  • Security State Bank of Fergus Falls, Minn.
  • Commerce Bank, Kansas City, Mo.
  • Citizens Bank and Trust Company, Kansas City
  • First State Bank and Trust Company, Inc., Caruthersville, Mo.
  • Hawthorn Bank, Jefferson City, Mo.
  • Enterprise Bank & Trust, Clayton, Mo.
  • Midwest BankCentre, Saint Louis, Mo.
  • Central Bank of Kansas City
  • Mid-Missouri Bank, Springfield, Mo.
  • First Midwest Bank of Dexter, Mo.
  • Progressive Ozark Bank, Salem, Mo.
  • People’s Bank of Seneca, Mo.
  • OakStar Bank, Springfield
  • O’Bannon Banking Company, Buffalo, Mo.
  • Legends Bank, Linn, Mo.
  • Branson Bank, Branson, Mo.
  • Phelps County Bank, Rolla, Mo.
  • Country Club Bank, Kansas City
  • Central Bank of Boone County, Columbia, Mo.
  • First Interstate Bank, Billings, Mont.
  • Bremer Bank, N.A., Saint Paul
  • Gate City Bank, Fargo
  • Dacotah Bank, Aberdeen, S.D.
  • Glacier Bank, Kalispell, Mont.