The Federal Home Loan Bank of Des Moines said today that net income dropped in the quarter ending June 30, due primarily to declines in net interest income and losses on loan charge-offs, hedges and derivatives. For the quarter, the bank reported net income of $18.2 million, compared with $19.1 million for the same period one year ago. For the six-month period, the bank reported net income of $63.4 million, compared with $45.1 million in the first half of 2011. Total assets decreased to $46.9 billion at the end of the quarter from $48.7 billion at Dec. 31 and $51.6 billion at June 30, 2011. The bank expects to file its second-quarter 2012 Form 10-Q with the U.S. Securities and Exchange Commission on or about Aug. 8, when additional information will be available at www.fhlbdm.com or www.sec.gov.