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  • Comment Detail

  • Date: 06/24/24
    First Name: Ryan
    Last Name: Welle
    Email: rwelle@fnbbemidji.com
    Organization Type: N/A
    Organization: First National Bank Bemidji

  • Comment

    We've been a partner of the FHLB Des Moines for over three decades. As a small community bank in Northern Minnesota, they've been an integral partner to us and allowed us to remain relevant when it comes to providing competitive home loans but also affordable housing grants to our Native American customers. We've relied on them sparingly as a provider of liquidity, but they are head and shoulders more efficient and easier to rely upon then our Federal Reserve. In other words, if we needed quick, fast funding we'd likely look to the FHLB first, in spite of less favorable terms. But, if we were in dire straights, we'd certainly use the Federal Reserve as they're willing to assume more risk at less of a cost.