Federal Home Loan Bank Stock

12 Months Ended

Dec. 31, 2019

FHLB stock

Federal Home Loan Bank Stock

Federal Home Loan Bank Stock

(5)Federal Home Loan Bank Stock

The Bank, as a member of the FHLB system, is required to obtain and hold shares of capital stock in the FHLB. At December 31, 2019 and 2018, the Bank met such requirement.  At December 31, 2019 and 2018, the Bank owned $8.7 million and $8.1 million, respectively, of capital stock of the FHLB Des Moines.

The Company evaluated its investment in the stock of the FHLB Des Moines for impairment. Based on the Company’s evaluation of the underlying investment, including the long-term nature of the investment and the liquidity position of the FHLB Des Moines, the Company did not consider its FHLB stock other-than-temporarily impaired.