The Federal Home Loan Bank of Des Moines reported net income of $19.1 million for the quarter that ended June 30, a 45 percent increase from net income of $13.2 million in the year-ago period. Net interest income was 32 percent less than in the second quarter of 2010, due to decreased demand for advances by member banks. However, the bank had significantly lower losses on derivatives and hedging activities in the quarter (a $16.1 million net loss for the quarter, compared with $64.8 million in second quarter 2010). Total assets decreased to $51.6 billion at June 30, from $55.6 billion at June 30, 2010, primarily attributable to a decrease in investments and advances.