The Federal Home Loan Bank of Des Moines reported net income of $18.1 million for the quarter ended Sept. 30, compared with a loss of $0.6 million for the same period last year.

For the nine months ended Sept. 30, the bank had net income of $81.5 million, compared with $44.5 million for the same period in 2011.

Income was affected by net interest income, loan write-offs, and losses on derivatives and hedging activities, as well as gains on trading securities, the bank said in a news release. The bank recorded losses on debt write-offs of $25.9 million.

On Sept. 30, the bank had total assets of $48.7 billion, compared with $49.6 billion on Sept.30, 2011. Total liabilities were $45.9 billion at the end of the quarter and $46.8 last year.

Total capital was $2.8 billion at the end of the quarter. The bank expects to declare a dividend on Nov. 9.