Exhibit 99.1

FHLBANK TOPEKA ANNOUNCES 2021 FIRST QUARTER RESULTS

April 29, 2021 - FHLBank Topeka (FHLBank) is reporting net income of $43.9 million computed in accordance with U.S. generally accepted accounting principles (GAAP) for the quarter ended March 31, 2021 compared to $11.8 million for the quarter ended March 31, 2020. The $32.1 million increase for the quarter ended March 31, 2021 compared to the quarter ended March 31, 2020 was primarily attributed to a net increase of $18.7 million related to fair value fluctuations on economic derivatives (i.e., derivatives not qualifying for hedge accounting) and trading securities and an increase in net interest income of $18.3 million.

Net interest income increased $18.3 million for the quarter, from $55.1 million for the quarter ended March 31, 2020 to $73.4 million for the quarter ended March 31, 2021, as a result of a significant decrease in FHLBank's cost of debt between periods. Net interest income was reduced by the decline in the average balance and average rate across most asset categories, most notably advances and mortgage loans, the change in net interest settlements on fair value hedges, and increased premium amortization on mortgage-related assets due to elevated prepayments, but the reduction was more than offset by the significant decrease in FHLBank's cost of debt.

FHLBank expects to file its Form 10-Q for the quarter ended March 31, 2021 with the Securities and Exchange Commission (SEC) on or about May 10, 2021.

Operating Highlights
Net interest income/margin: Net interest income of $73.4 million for the quarter ended March 31, 2021 increased $18.3 million compared to the same period in 2020. The decrease in market interest rates allowed FHLBank to replace approximately $14 billion of callable debt between periods at a lower cost, which has reduced overall funding costs for current and future periods. Notably, the repricing of the liabilities funding our short-term assets combined with the overall reduction in funding costs resulted in a 23 basis point increase in net interest margin and a 28 basis point increase in net interest spread for the quarter ended March 31, 2021 compared to the prior year period.
Total assets: Total assets declined from $52.6 billion as of December 31, 2020 to $48.5 billion as of March 31, 2021, driven by the decrease in the short-term liquidity portfolio between those periods, which was elevated at December 31, 2020 in anticipation of potential year-end financial disruptions.
Advances: Advances remained relatively flat from December 31, 2020 to March 31, 2021, decreasing slightly to $21.1 billion. The average balance of advances declined $5.5 billion, or 18.9 percent, for the quarter ended March 31, 2021 compared to March 31, 2020. Advance demand by members dropped significantly in the second quarter of 2020 and remained at that lower level through the first quarter of 2021, as many members have experienced significant deposit inflows and excess liquidity as a result of economic stimulus packages passed by Congress along with the Federal Reserve Bank’s easing of monetary policy, security purchase programs, and newly created lending facilities in response to the COVID-19 pandemic.
Mortgage loans: Mortgage loans decreased by $0.5 billion from December 31, 2020 to March 31, 2021, representing 17.9 percent of total assets as of March 31, 2021, compared to 17.5 percent as of December 31, 2020. The average balance of mortgage loans decreased $1.9 billion, or 17.9 percent, for the quarter ended March 31, 2021 compared to the prior year period as prepayments outpaced acquisitions.
Performance ratios: Return on average equity (ROE) increased to 6.55 percent for the quarter ended March 31, 2021 compared to 1.75 percent for the prior year period due to the increase in net income for the current quarter, especially relative to the pandemic-related market volatility in the prior year period.
Dividends: The Class A Common Stock dividend rate of 0.25 percent per annum and the Class B Common Stock dividend rate of 5.25 percent per annum combined for a weighted average dividend rate for the quarter ended March 31, 2021 of 4.15 percent per annum, compared to a weighted average dividend rate of 5.94 percent for the same period in 2020. Our dividend rates have historically moved in tandem with short-term market rates, so the decrease in the weighted average dividend rate reflects the decline in short-term market interest rates resulting from Federal Open Market Committee rate cuts in March 2020 to stimulate the U.S. economy.

Financial Highlights
Attached are highlights of FHLBank’s financial position as of March 31, 2021 and December 31, 2020 and highlights of the results of operations for the quarterly periods ended March 31, 2021 and 2020.



The following information was filed by Federal Home Loan Bank Of Topeka on Thursday, April 29, 2021 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.

View differences made from one quarter to another to evaluate Federal Home Loan Bank Of Topeka'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 Topeka.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account