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  • Comment Detail

  • Date: 06/28/24
    First Name: Steven
    Last Name: Fopma
    Email: sfopma@leightonbank.com
    Organization Type: organization
    Organization: Leighton State Bank

  • Comment

    The Federal Home Loan Bank of Des Moines has been a critical source of liquidity for Leighton State Bank for the past 25 years as we, a locally owned and managed community bank, have seen steady and increasing demand for our loan products and services. By utilizing products from the FHLB the bank has also been able to manage interest rate risk and margin, allowing us to remain a strong, stable and viable financial institution at times when other financial providers exit the market because margins were too thin. The FHLB products have enhanced our bank's ability to be a stable provider of credit to local homeowners.

    I strongly urge the FHFA to maintain the FHLB system as created and authorized by Congress, allow Congress to determine and authorize any needed changes to the mission of the FHLB, and finally to maintain the FHLB as a critical and stable source of liquidity for institutions such as Leighton State Bank so that we can continue to support housing and broader community development in the market we serve as we have done for the past 113 years.

    Respectfully submitted

    Steve Fopma, CEO - Leighton State Bank