# EDGAR Filing Document

**Accession Number:** 0001325814
**File Stem:** 0001325814-25-000178
**Filing Date:** 2025-9
**Character Count:** 10328
**Document Hash:** b7ff2d67d8fcef06a9a00776445ee49e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001325814-25-000178.hdr.sgml**: 20250917

**ACCESSION NUMBER**: 0001325814-25-000178

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250912

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250917

**DATE AS OF CHANGE**: 20250917

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federal Home Loan Bank of Des Moines
- **CENTRAL INDEX KEY:** 0001325814
- **STANDARD INDUSTRIAL CLASSIFICATION:** FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 426000149
- **STATE OF INCORPORATION:** X1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-51999
- **FILM NUMBER:** 251319044

**BUSINESS ADDRESS:**
- **STREET 1:** 909 LOCUST STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50309
- **BUSINESS PHONE:** 515-412-2100

**MAIL ADDRESS:**
- **STREET 1:** 909 LOCUST STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50309

?xml version='1.0' encoding='ASCII'? fhlbdm-20250912

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 <br> Date of Report (Date of Earliest Event Reported): September 12, 2025

Federal Home Loan Bank of Des Moines

__________________________________________

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| Federally Chartered Corporation of the United States | 000-51999 | 42-6000149 |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |

---

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| | |
|:---|:---|
| 909 Locust Street | |
| Des Moines, Iowa | 50309 |
| (Address of principal executive offices) | (Zip Code) |

---

 <br> Registrant's telephone number, including area code: 515-412-2100

 Not Applicable <br> Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered <br>   

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if they registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

*Deemed Election of Certain Member Directors*

On September 12, 2025, Russell Lau, chairman and CEO of Finance Factors, Limited, in Honolulu, Hawaii, was declared elected by the Federal Home Loan Bank of Des Moines ("Bank") to serve as the Hawaii member director on the Bank's board of directors ("Board") for a four-year term commencing January 1, 2026. Mr. Lau previously served on the boards of both the Federal Home Loan Bank of Seattle from 2005 to 2015 and the Bank from 2015 to 2017. In accordance with Federal Housing Finance Agency ("Finance Agency") regulations, Mr. Lau was eligible to serve again beginning in 2022. He was elected to his first term on January 1, 2022 and will begin his second term as a member director of the Bank on January 1, 2026. The 2026 board committees on which Mr. Lau will be named to serve have not been determined as of the date of this filing.

*Legal Framework for the Deemed Election*

The election took place in accordance with the rules governing the election of Federal Home Loan Bank member directors specified in the Federal Home Loan Bank Act of 1932, as amended ("Bank Act"), and the related regulations of the Finance Agency. Finance Agency regulations provide that if the number of eligible nominations for member directorships is equal to the number of member directorships to be filled, balloting is unnecessary and such nominees are deemed elected upon notice to the Bank's members in the relevant state. On September 12, 2025, the Bank sent notice of Mr. Lau's election to members in the state of Hawaii.

*Compensation of Directors for 2026*

The Bank expects to compensate Mr. Lau in accordance with the Bank's 2026 Director Fee Policy, a policy that has not yet been adopted. Directors are also eligible to be reimbursed for reasonable travel, subsistence and other related expenses incurred in connection with service as a Bank director.

*Certain Relationships, Related Transactions, and Director Independence*

Pursuant to the Bank Act and Finance Agency regulations, the Bank's member directors serve as officers or directors of a member of the Bank. The Bank is a cooperative and conducts business primarily with its members, who are required to own capital stock in the Bank as a prerequisite to transacting certain business with the Bank. Subject to the Bank Act and Finance Agency regulations, the Bank also issues consolidated obligations through the Office of Finance, maintains a portfolio of short-term and long-term investments, enters into derivative transactions, and provides certain cash management and other services; in each case, with members, housing associates, or other third parties of which directors may serve as officers or directors. All such transactions are made in the ordinary course of the Bank's business and are subject to the same Bank policies as transactions with the Bank's members, housing associates, and third parties generally. For further information, see Item 13 - Certain Relationships and Related Transactions, and Director Independence of the Bank's 2024 Annual Report filed on Form 10-K with the Securities and Exchange Commission on March 7, 2025.

**Item 7.01 Regulation FD Disclosure.**

Attached as an exhibit to this Form 8-K is the election announcement to Hawaii members dated September 12, 2025. The information contained in the exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits.**

Exhibit Number 99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Hawaii Member Announcement, dated September 12, 2025, issued by the Bank](exhibit991hawaiimemberdire.htm)</u>

Exhibit Number 104&nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (embedded within the inline XBRL document)&nbsp;&nbsp;&nbsp;&nbsp;

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**SIGNATURE**

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | Federal Home Loan Bank of Des Moines | Federal Home Loan Bank of Des Moines |
| *September 17, 2025* | By: | */s/ Robert W. Dixon* |
|  |  | Name: Robert W. Dixon |
|  |  | Title: Chief Legal and Compliance Officer |

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**Exhibit Index** 

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Hawaii Member Announcement, dated September 12, 2025, issued by the Bank](exhibit991hawaiimemberdire.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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## Exhibit 99.1

&nbsp;&nbsp;&nbsp;&nbsp;Exhibit 99.1

September 12, 2025

The Federal Home Loan Bank of Des Moines (FHLB Des Moines or Bank) is pleased to announce that Russell Lau was recently declared elected as a director to the Bank's board of directors. Mr. Lau will serve as the Hawaii member director, serving for a four-year term commencing January 1, 2026.

Mr. Lau has served as the chairman and CEO of Finance Factors Limited, a minority depository FDIC insured institution based in Honolulu, Hawaii, since 1998. Mr. Lau has served as the president, and CEO of Finance Enterprises, Ltd., the parent company, since 2004. In connection with his service with Finance Enterprises, he is the chairman and CEO of Finance Insurance, Ltd., a Hawaii independent insurance agency and chairman and CEO of Finance Realty, Ltd., and Waipono Inc., real estate investment/development and management companies. Mr. Lau previously served on the boards of both the Federal Home Loan Bank of Seattle from 2005 to 2015 and FHLB Des Moines from 2015 to 2017. In accordance with Federal Housing Finance Authority regulations, Mr. Lau was eligible to serve again beginning in 2022. He was elected to his first term on January 1, 2022 and will begin his second term as an FHLB Des Moines director on January 1, 2026.

FHLB Des Moines Board of Directors is comprised of both member and independent directorships from Alaska, Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, the U.S. Pacific territories of American Samoa and Guam and the Commonwealth of the Northern Mariana Islands.

For a full listing of the current FHLB Des Moines Board of Directors, please refer to www.fhlbdm.com.

<br>