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Federal Home Loan Bank Of Cincinnati (1326771) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Federal Home Loan Bank Of Cincinnati

CIK: 1326771

CONTACT:
NewsRelease
John Byczkowski, FHLBank Cincinnati
FOR IMMEDIATE RELEASE
513-852-7085 (office) or 513-382-7615 (cell)
February 21, 2013



FHLBANK CINCINNATI ANNOUNCES 2012 RESULTS

Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati (FHLBank) today released unaudited financial results for the year ended December 31, 2012. The FHLBank continued to effectively fulfill its mission by providing readily available and favorably priced wholesale funding to its member financial institutions, supporting its commitment to affordable housing, and paying stockholders a competitive dividend return on their capital investment. Highlights include:
Net income for 2012 was $235 million and return on average equity (ROE) was 6.20 percent. This compares to net income of $138 million and ROE of 3.89 percent for 2011. For the fourth quarter of 2012, net income was $65 million and ROE was 6.22 percent, compared to net income of $40 million and ROE of 4.44 percent for the same period of 2011.
The most significant contributors to the increase in net income and ROE in 2012 were the full year effect of elimination of the REFCORP obligation, management's asset-liability and market risk strategies, prepayment fees on Advances, gains from the clean-up sales of certain securities, and several other factors detailed below under "Operating Results and Profitability."
Total assets at December 31, 2012 were $81.6 billion, an increase of $21.2 billion (35 percent) from year-end 2011. The growth was primarily due to significant Advance borrowings by a new large-asset member. Total assets in 2012 averaged $66.7 billion, a decrease of $0.6 billion (one percent) from 2011. The year-over-year increase in total assets was substantially positive, while average assets fell slightly because the Advance growth occurred in the second half of the year.
The balance of Mission Asset Activity – comprising major activities with members including Advances, Letters of Credit, and the Mortgage Purchase Program – was $71.3 billion at December 31, 2012, an increase of $30.4 billion (74 percent) from year-end 2011.
Capital adequacy continued to substantially exceed all minimum regulatory capital requirements. On December 31, 2012, GAAP capital, which included $538 million of total retained earnings, stood at $4.5 billion or 5.56 percent of total assets. Total retained earnings increased in the fourth quarter by $25 million and by $94 million in all of 2012.
Stockholders were paid a cash dividend on December 20, 2012 at a 4.75 percent annualized rate, which was 4.43 percentage points above the fourth quarter average 3-month LIBOR. The average dividend paid for the year was 4.44 percent.



The following information was filed by Federal Home Loan Bank Of Cincinnati on Thursday, February 21, 2013 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Statement Of Equity
Statements Of Cash Flows
Statements Of Comprehensive Income
Statements Of Condition
Statements Of Condition (parenthetical)
Statements Of Income
Accumulated Other Comprehensive (loss) Income
Accumulated Other Comprehensive (loss) Income (details)
Accumulated Other Comprehensive (loss) Income (tables)
Advances
Advances (advance Redemption Terms) (details)
Advances (advances By Interest Rate Payment Terms) (details)
Advances (advances By Year Of Contractual Maturity Or Next Put/convert Date For Putable/convertible Advances) (details)
Advances (borrowers Holding Five Percent Or More Of Total Advances) (details)
Advances (narrative) (details)
Advances (year Of Contractual Maturity Or Next Call Date) (details)
Advances Advances (tables)
Affordable Housing Program (ahp)
Affordable Housing Program (ahp) (details)
Affordable Housing Program (ahp) (tables)
Allowance For Credit Losses
Allowance For Credit Losses (details)
Allowance For Credit Losses (tables)
Allowance For Credit Losses Individually Evaluated Impaired Loans (details)
Allowance For Credit Losses Rollforward Of Lra (details)
Allowance For Credit Losses Schedule Of Loans Outstanding And Past Due (details)
Allowance For Credit Losses Troubled Debt Restructuring (details)
Available-for-sale Securities
Available-for-sale Securities (details)
Available-for-sale Securities (tables)
Background Information
Background Information (details)
Capital
Capital (details)
Capital (mandatorily Redeemable Capital Stock By Contractual Year Of Redemption) (details)
Capital (mandatorily Redeemable Capital Stock) (details)
Capital (tables)
Cash And Due From Banks
Cash And Due From Banks (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments And Contingencies Lease Schedule (details)
Commitments And Contingencies Legal Proceedings (details)
Commitments And Contingencies Narrative (details)
Consolidated Obligations
Consolidated Obligations (details)
Consolidated Obligations (tables)
Deposits
Deposits (tables)
Deposits Deposits (details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (tables)
Derivatives And Hedging Activities Credit Risk Exposure (details)
Derivatives And Hedging Activities Derivatives In Statement Of Condition (details)
Derivatives And Hedging Activities Derivatives In Statement Of Income (details)
Derivatives And Hedging Activities Derivatives In Statement Of Income And Impact On Interest (details)
Derivatives And Hedging Activities Narrative (details)
Fair Value Disclosures
Fair Value Disclosures Fair Value (tables)
Fair Value Disclosures Fair Value Difference Between Fair Value And Remaining Contractual Principal Balance Outstanding (details)
Fair Value Disclosures Fair Value Impact On Financial Performance (details)
Fair Value Disclosures Fair Value Measured On A Recurring Basis (details)
Fair Value Disclosures Fair Value Option (details)
Fair Value Disclosures Fair Value Summary (details)
Held-to-maturity Securities
Held-to-maturity Securities (continuous Unrealized Loss Position) (details)
Held-to-maturity Securities (contractual Maturity) (details)
Held-to-maturity Securities (interest Rate Payment Terms) (details)
Held-to-maturity Securities (major Security Types) (details)
Held-to-maturity Securities (net Premuims) (details)
Held-to-maturity Securities (realized Gains And Losses) (details)
Held-to-maturity Securities (tables)
Mortgage Loans Held For Portfolio
Mortgage Loans Held For Portfolio (details 2)
Mortgage Loans Held For Portfolio (details)
Mortgage Loans Held For Portfolio (tables)
Other-than-temporary Impairment Analysis
Pension And Postretirement Benefit Plans
Pension And Postretirement Benefit Plans (tables)
Pension And Postretirement Benefit Plans Amortization For Next Fiscal Year (details)
Pension And Postretirement Benefit Plans Amounts Recognized In Aoci (details)
Pension And Postretirement Benefit Plans Benefit Obligation (details)
Pension And Postretirement Benefit Plans Benefit Obligation Key Assumptions (details)
Pension And Postretirement Benefit Plans Estimated Future Benefit Payments (details)
Pension And Postretirement Benefit Plans Narrative (details)
Pension And Postretirement Benefit Plans Net Periodic Benefit Cost (details)
Pension And Postretirement Benefit Plans Net Periodic Benefit Cost Key Assumptions (details)
Pension And Postretirement Benefit Plans Pentegra Defined Benefit Plan (details)
Pension And Postretirement Benefit Plans Postretirement Benefit Plan Assumptions (details)
Recently Issued Accounting Standards And Interpretations
Recently Issued Accounting Standards And Interpretations Recently Issued Accounting Standards And Interpretations (policies)
Resolution Funding Corporation (refcorp)
Resolution Funding Corporation (refcorp) (details)
Segment Information
Segment Information (details)
Segment Information (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies Details 1 (details)
Trading Securities
Trading Securities (net (losses) Gains On Trading Securities) (details)
Trading Securities (tables)
Trading Securities (trading Securities By Major Type) (details)
Transactions With Other Fhlbanks
Transactions With Other Fhlbanks (details)
Transactions With Other Fhlbanks (tables)
Transactions With Stockholders
Transactions With Stockholders (concentrations) (details)
Transactions With Stockholders (details)
Transactions With Stockholders (tables)
CIK: 1326771
Form Type: 10-K Annual Report
Accession Number: 0001326771-13-000010
Submitted to the SEC: Thu Mar 21 2013 1:32:13 PM EST
Accepted by the SEC: Thu Mar 21 2013
Period: Monday, December 31, 2012
Industry: Federal And Federally Sponsored Credit Agencies

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