The Federal Home Loan Bank of Des Moines (FHLB Des Moines or Bank) is pleased to announce that Mr. Douglas DeFries was recently elected as a member director to the Bank’s board. Mr. DeFries will begin serving his first term on the board on Jan. 1, 2022.
Mr. DeFries is currently the president and chief executive officer (CEO) of Bank of Utah and also serves as president and CEO of BOU Bancorp, Inc. He has held both positions since 2011.
Mr. DeFries has served on the Community Bank Council of the American Bankers Association as Utah Representative and Administrative Committee Member since 2016. He is also the current chairman of the Money Management Council for the Utah State Treasurer. Over the past 30 years, he has had multiple appointments on the Board of Directors for the Utah Bankers Association including chairman in 2018 to 2019. He has served on the Board of Trustees of Utah Housing Corporation from 2011 to 2016 and as chairman in 2016. He was also the chairman of the American Institute of Banking from 1995 to 1996.
Mr. DeFries is actively involved in the community and volunteers on several boards and organizations. His past contributions include serving on the Board of Directors of the Ogden/Weber Chamber of Commerce, Board of Directors of the United Way of Northern Utah and the Institutional Review Board for Intermountain Healthcare (IHC).
The 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 complete listing of the current FHLB Des Moines Board members, please visit https://www.fhlbdm.com/about/leadership/board-of-directors/.
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 1,300 members, including commercial banks, saving institutions, credit unions, community development financial institutions and insurance companies. The Bank is wholly owned by its members and receives no taxpayer funding. The Des Moines Bank serves 13 states, three pacific territories and is one of 11 regional Banks that make up the Federal Home Loan Bank System.
