The Federal Home Loan Bank of Des Moines recently announced that John Klebba, president and CEO of Legends Bank in Linn, recently was elected as a director to the bank’s board.
Legends Bank has a branch in Union, at 410 Highway 50 East.
Klebba will serve a four-year term beginning Jan. 1, 2018.
The FHLB Des Moines is a $165 billion, SEC reporting company that provides funding solutions and liquidity to its member financial institutions to support mortgage lending, economic development and affordable housing in the communities they serve.
“FHLB has a unique mission and works for the benefit of all types of financial institutions, but it is especially important to community banks,” Klebba said. “We have relied on FHLB for funding for some of our longer term mortgage loans for our customers, and have participated in a number of their programs to increase the affordable housing options in our communities.”
FHLB Des Moines is governed by a board of directors comprised of financial service, business and community leaders from across the bank’s 13-state district. Currently, two Missouri bankers are among the 25 directors serving on the FHLB Des Moines board.
Dale Oberkfell, president and chief financial officer for Midwest BankCentre in St. Louis and treasurer and chief financial officer of Midwest BankCentre, Inc., currently serves as the chair of the FHLB Des Moines and is term limited.
Joseph Stewart, who is board chairman of BancStar, Inc. in St. Louis and CEO of Bank Star in Pacific, is concluding 10 years of service on the FHLB Des Moines board.
FHLB is regulated by the Federal Housing Finance Agency.
Klebba, who served as MBA chairman in 2011 and in numerous capacities with the American Bankers Association, is looking forward to his new role on the FHLB Des Moines board.
His term on the FHLB Des Moines board will end Dec. 31, 2021.