Federal Home Loan Bank Grants Give Families in Missouri a Home for the Holidays

Bank Awards $8 Million in Housing Grants in 2006


DES MOINES, Iowa, Dec. 1, 2006 (PRIME NEWSWIRE) -- The Federal Home Loan Bank of Des Moines (FHLB) awarded more than $8 million in housing grants this year, making the holidays brighter for more families throughout its five-state district. FHLB members could reserve funds through several Bank programs to provide down payment, closing cost or rehabilitation assistance to eligible, low-income homebuyers in their communities. Funds, which do not have to be paid back by the homebuyer, were available to assist both rural and urban homebuyers in Iowa, Minnesota, Missouri, North Dakota and South Dakota.

"Having a home for the holidays is something that many individuals and families only dream about," commented Richard S. Swanson, FHLB President and CEO. "At the Home Loan Bank, we provide our members with more affordable housing opportunities to help make the dream of homeownership a reality for the people in the communities they serve. It's exciting for us to know that our affordable housing programs have impacted deserving families and made their holidays better by giving them a home to call their own."

The Bank awarded over $8 million in grants through four housing programs in 2006. The programs included the Native American Homeownership Initiative ($450,000); Urban Homeownership Fund ($1.8 million); Urban First-Time Homebuyer Fund ($2.3 million); and the Rural Homeownership Fund ($3.5 million). More information about these and other Community Investment programs is available on the Bank's website at www.fhlbdm.com. A complete listing of Missouri recipients is attached.

The Federal Home Loan Bank of Des Moines is a wholesale cooperative bank that provides low-cost short and long-term funding and community lending to more than 1,200 members, including commercial banks, saving institutions, credit unions and insurance companies. The Bank is wholly owned by its members and receives no taxpayer funding. The Des Moines Bank serves Iowa, Minnesota, Missouri, North Dakota and South Dakota and is one of twelve regional Banks that make up the Federal Home Loan Bank System.



 Rural Homeownership Fund -- 1st Offering

      Member Institution                           Amount of Subsidy
      ------------------                           -----------------
 Community State Bank of Missouri, Bowling Green      $25,000.00
 First State Bank & Trust Company, Caruthersville     $25,000.00
 Commercial Trust Company of Fayette, Fayette         $20,000.00
 Farmers and Merchants Bank of Hale, Hale             $25,000.00
 HNB National Bank, Hannibal                          $25,000.00
 Bank of Cairo and Moberly, Moberly                   $25,000.00
 United Bank of Union, Union                          $25,000.00


 Rural Homeownership Fund -- 2nd Offering

     Member Institution                           Amount of Subsidy
     ------------------                           -----------------
 Community First Bank, Appleton City                  $25,000.00
 BTC Bank, Bethany                                    $25,000.00
 First Missouri State Bank of Cape County,
    Cape Girardeau                                    $10,000.00
 Alliance Bank, Cape Girardeau                        $25,000.00
 Investors National Bank, Chillicothe                 $25,000.00
 First National Bank, Clinton                         $25,000.00
 Mid America Bank & Trust Company, Dixon              $25,000.00
 Lamar Bank & Trust Company, Lamar                    $25,000.00
 Heritage Bank of the Ozarks, Lebanon                 $25,000.00
 Legends Bank, Linn                                   $25,000.00
 Bank of Monticello, Monticello                       $25,000.00
 The Bank of New Madrid, New Madrid                   $25,000.00
 Palmyra State Bank, Palmyra                          $25,000.00
 The Paris National Bank, Paris                       $25,000.00
 Excel Bank, Sedalia                                  $25,000.00
 Community State Bank, Shelbina                       $25,000.00
 Great Southern Bank, Springfield                     $25,000.00
 Putnam County State Bank, Unionville                 $25,000.00


 Urban Homeownership Fund

     Member Institution                           Amount of Subsidy
     ------------------                           -----------------
 Alliance Bank, Cape Girardeau                        $50,000.00
 First Missouri State Bank Of Cape County,
    Cape Girardeau                                    $10,000.00
 Bank 21, Carrollton                                  $20,000.00
 Mid America Bank & Trust Company, Dixon              $50,000.00
 Heritage Bank of The Ozarks, Lebanon                 $50,000.00
 The Nodaway Valley Bank, Maryville                   $50,000.00
 Excel Bank, Sedalia                                  $ 5,000.00
 Empire Bank, Springfield                             $50,000.00
 Great Southern Bank, Springfield                     $50,000.00


 Urban First-Time Homebuyer Fund

     Member Institution                           Amount of Subsidy
     ------------------                           -----------------
 Bank of Advance, Advance                             $50,000.00
 Alliance Bank, Cape Girardeau                        $50,000.00
 Mid America Bank & Trust Company, Dixon              $50,000.00
 First Financial Credit Union, Jefferson City         $30,000.00
 Central Bank of Kansas City, Kansas City             $50,000.00
 Heritage Bank of the Ozarks, Lebanon                 $50,000.00
 Legends Bank, Linn                                   $25,000.00
 The Nodaway Valley Bank, Maryville                   $50,000.00
 Empire Bank, Springfield                             $50,000.00
 Great Southern Bank, Springfield                     $50,000.00
 Pulaski Bank, A Savings Bank, St. Louis              $50,000.00
 Anheuser-Busch Employees Credit Union, St. Louis     $50,000.00
 The Private Bank, St. Louis                          $50,000.00


            

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