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Federal Home Loan Bank Of Cincinnati (1326771) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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 19, 2015


FHLBANK CINCINNATI ANNOUNCES 2014 RESULTS

Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati (FHLBank) today released unaudited financial results for the year ended December 31, 2014. The FHLBank expects to file its 2014 Form 10-K with the Securities and Exchange Commission on or about March 19, 2015.
Operating Results and Profitability
Net income for 2014 was $244 million and return on average equity (ROE) was 4.93 percent. This compares to net income of $261 million and ROE of 5.10 percent for 2013. For the fourth quarter of 2014, net income was $64 million and ROE was 5.14 percent, compared to net income of $64 million and ROE of 4.78 percent for the same period of 2013.
The lower net income and ROE in 2014 resulted primarily from a decrease in net interest income and from a $7 million larger reversal for credit losses on mortgage loans held for portfolio in 2013.
Balance Sheet Highlights
Total assets at December 31, 2014 were $106.6 billion, which was an increase of $3.5 billion (three percent) from year-end 2013. Mission Asset Activity – comprising major activities with members including Advances, Letters of Credit, and the Mortgage Purchase Program – was $95.3 billion at December 31, 2014, an increase of $10.1 billion (12 percent) from year-end 2013.
The balance of investments at December 31, 2014 was $26.0 billion, an increase of $3.6 billion (16 percent) from year-end 2013.
Capital adequacy substantially exceeded all minimum regulatory requirements. On December 31, 2014, GAAP capital stood at $4.9 billion, a decrease of $0.4 billion (seven percent) from year-end 2013, which primarily resulted from our $500 million redemption/repurchase of excess stock in February 2014. The GAAP and regulatory capital ratios were 4.63 percent and 4.71 percent, respectively, at December 31, 2014.
Housing and Community Investment
The FHLBank contributed $28 million in 2014 to the Affordable Housing Program (AHP) pool of funds to be awarded to members in 2015, which marks the 25th anniversary of the AHP. Since inception of the AHP, the FHLBank has awarded $544 million in AHP grants to more than 350 members towards the creation of over 70,000 units of affordable housing.
The FHLBank awarded more than $1 million in 2014 through two of its voluntary housing programs. These programs primarily provide grants to cover accessibility rehabilitation and emergency repairs for special needs and elderly homeowners, and for the replacement or repair of homes damaged or destroyed by natural disasters within the Fifth District.
 



The following information was filed by Federal Home Loan Bank Of Cincinnati on Thursday, February 19, 2015 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 (details)
Cash And Due From Banks (notes)
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 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)
Derivatives And Hedging Activities Offsetting Of Derivative Assets And Derivative Liabilities (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 (tables)
Held-to-maturity Securities Proceeds And Gross Gains From Sale Of Htm (details)
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)
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: 0001326771-15-000008
Submitted to the SEC: Thu Mar 19 2015 2:30:45 PM EST
Accepted by the SEC: Thu Mar 19 2015
Period: Wednesday, December 31, 2014
Industry: Federal And Federally Sponsored Credit Agencies

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