Federal Home Loan Bank Of San Francisco 10-Q Quarterly Report May 2019

SAN FRANCISCO, April 25, 2019 — The Federal Home Loan Bank of San Francisco today announced that its net income for the first quarter of 2019 was $104 million, compared with net income of $81 million for the first quarter of 2018.

The $23 million increase in net income relative to the prior-year period primarily reflected improvements in net fair value gains and losses associated with derivatives, hedged items, and financial instruments carried at fair value, and a decrease in the expense associated with voluntary charitable contributions for the Quality Jobs Fund, from $10 million in the first quarter of 2018 to $5 million in the first quarter of 2019. The increase in net income was partially offset by a $4 million decrease in net interest income for the first quarter of 2019 relative to the prior-year period, reflecting a decline in spreads on interest-earning assets.

Total assets increased $1.3 billion to $110.6 billion at March 31, 2019, from $109.3 billion at December 31, 2018. Investments increased $4.1 billion, to $36.5 billion at March 31, 2019, from $32.4 billion at December 31, 2018, primarily reflecting an increase in Federal funds sold, available-for-sale securities, and securities purchased under agreements to resell. Total advances decreased $3.1 billion, to $70.3 billion at March 31, 2019, from $73.4 billion at December 31, 2018.

Accumulated other comprehensive income increased by $52 million during the first three months of 2019, to $287 million at March 31, 2019, from $235 million at December 31, 2018, primarily as a result of improvement in the fair value of mortgage-backed securities classified as available-for-sale.

As of March 31, 2019, the Bank was in compliance with all of its regulatory capital requirements. The Bank’s total regulatory capital ratio was 6.0%, exceeding the 4.0% requirement. The Bank had $6.6 billion in permanent capital, exceeding its risk-based capital requirement of $1.9 billion. Total retained earnings as of March 31, 2019, were $3.4 billion.

Today, the Bank’s Board of Directors declared a quarterly cash dividend on the capital stock outstanding during the first quarter of 2019 at an annualized rate of 7.00%. The quarterly dividend rate is consistent with the Bank's dividend philosophy of endeavoring to pay a quarterly dividend at a rate between 5% and 7% annualized. The quarterly dividend will total $56 million, including $4 million in dividends on mandatorily redeemable capital stock that will be reflected as interest expense in the second quarter of 2019. The Bank expects to pay the dividend on May 14, 2019.

The following information was filed by Federal Home Loan Bank Of San Francisco on Friday, April 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1316944/000131694419000069/a201910qq1document.htm

View differences made from one quarter to another to evaluate Federal Home Loan Bank Of San Francisco's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Federal Home Loan Bank Of San Francisco.

Continue

Assess how Federal Home Loan Bank Of San Francisco's management team is paid from their Annual Proxy

Federal Home Loan Bank Of San Francisco's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Federal Home Loan Bank Of San Francisco provided additional information to their SEC Filing as exhibits

Exhibit 3.1: Bylaws, As Amended And Restated On April 15, 2019

Exhibit 10.1: Executive Incentive Plan And Appendices

Exhibit 31.1: Certification Of The President And Ceo Section 302

Exhibit 31.2: Certification Of The Cfo Section 302

Exhibit 32.1: Certification Of The President And Ceo Section 906

Exhibit 32.2: Certification Of The Cfo Section 906

CIK: 1316944
Form Type: 10-Q Quarterly Report
Accession Number: 0001316944-19-000069
Submitted to the SEC: Thu May 02 2019 5:39:44 PM EST
Accepted by the SEC: Fri May 03 2019
Period: Sunday, March 31, 2019
Industry: Federal And Federally Sponsored Credit Agencies

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1316944/0001316944-19-000069.htm

Federal Home Loan Bank Of San Francisco (1316944) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

SEC Filings

1316944 Annual Reports

1316944 Quarterly Reports

1316944 Corporate News