Financial Annual Report 2007

FHLB Des Moines member, Citizens Bank & Trust Company (CB&T) has been providing banking ser vices to the Nor th Missouri region since 1889. Today, CB&T’s client base includes thousands of r ural and urban customers in 17 communities, and it is the sixth largest state chartered bank in Missouri. By using a variety of business tools, CB&T stays in tune with its clients to meet their financial ser vices needs. FHLB Des Moines new Member Option Fixed Rate Advance provided CB&T with a funding product to help manage its mor tgage investments. “Banks grant options on a daily basis. It is beneficial for our bank to have liability tools to manage the interest rate risk in our balance sheet. The Member Option Fixed Rate Advance is an outstanding new product we will continue to use,” Ed Place, CFO of Citizens Bank & Trust Company, commented. The Member Option Fixed Rate Advance and the Member Option Variable Rate Advance ED PLACE, CFO CITIZENS BANK & TRUST COMPANY CHILLICOTHE, MISSOURI (HOME OFFICE) allow members the flexibility to prepay the advance without incurring prepayment fees at either predetermined dates (fixed rate option) or rate-reset dates (variable rate option). Providing clients with more choices, flexibility and convenience is important to CB&T and FHLB Des Moines. The Member Option Fixed Rate and Member Option Variable Rate Advances give our members more choices and more ﬂexibility. MISSOURI MEMBERS Dan Laird, VP, Member Services FHLB Des Moines Each Member Services Vice President spends time planning meetings with members to understand the different business plans and the different factors that drive the members’ risk management portfolios. Member Services Vice Presidents Dan Laird and Brad Spears met with Ed Place to discuss CB&T’s cur rent por tfolio and future funding needs. “Understanding the member’s risk profile, risk tolerance and profitability pressures and targets is ver y important,” said Dan. “Finding the most efficient and profitable way for CB&T to use FHLB Des Moines was our goal.” 13

Table of Contents Feed for the Digital Edition of Financial Annual Report 2007

Financial Annual Report 2007 Contents Introduction Letter To Our Members Financial Highlights Member Highlight: Chillicothe, MO Member Highlight: Bloomington, MN Statements of Condition Statements of Income Board of Directors

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