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Contact: | News Release |
John Byczkowski, FHLB Cincinnati | FOR IMMEDIATE RELEASE |
513.852.7085 (office) or 513.382.7615 (cell) | February 21, 2019 |
▪ | Net income for 2018 was $339 million and return on average equity (ROE) was 6.29 percent. This compares to net income of $314 million and ROE of 6.15 percent for 2017. For the fourth quarter of 2018, net income was $80 million and ROE was 5.90 percent, compared to net income of $84 million and ROE of 6.42 percent for the same period of 2017. |
▪ | The increase in net income and ROE for the full year comparison period was primarily the result of higher net interest income. Net interest income increased in both the full year and quarter-to-date comparison periods primarily due to the rise in short-term interest rates, which improved earnings from funding assets with interest-free capital. However, net income and ROE were lower in the quarter-to-date comparison period primarily due to decreases in the fair values of certain derivatives and other financial instruments carried at fair value. |
▪ | The FHLB paid its stockholders a cash dividend on December 20, 2018 at a 6.00 percent annualized rate, which is 3.37 percentage points above the fourth quarter average 3-month LIBOR. |
▪ | The FHLB's net income for 2018 resulted in an accrual of $38 million to the Affordable Housing Program (AHP) pool of funds available to members. These funds assist members in serving very low-, low-, and moderate-income households and community economic development. |
▪ | In addition to the required AHP assessment, the FHLB disbursed $1.7 million in 2018 through its two voluntary housing programs. These programs 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. |
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Compare this 10-K Annual 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 Cincinnati.
Federal Home Loan Bank Of Cincinnati's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Federal Home Loan Bank Of Cincinnati provided additional information to their SEC Filing as exhibits
CIK: 1326771
Form Type: 10-K Annual Report
Accession Number: 0001326771-19-000007
Submitted to the SEC: Thu Mar 21 2019 3:54:09 PM EST
Accepted by the SEC: Thu Mar 21 2019
Period: Monday, December 31, 2018
Industry: Federal And Federally Sponsored Credit Agencies