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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, 2018

Federal Home Loan Bank Of Cincinnati

CIK: 1326771
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News Release
John Byczkowski, FHLB Cincinnati
FOR IMMEDIATE RELEASE
513.852.7085 (office) or 513.382.7615 (cell)
February 21, 2019
    
FHLB CINCINNATI ANNOUNCES 2018 RESULTS

Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the year ended December 31, 2018. The FHLB expects to file its 2018 Form 10-K with the Securities and Exchange Commission on or about March 21, 2019.
The FHLB is a AA+ rated wholesale cooperative bank owned by 646 member financial institutions. The FHLB supports housing finance and community development by lending to a diverse membership base including commercial banks, thrifts, credit unions, insurance companies and community development financial institutions in Kentucky, Ohio and Tennessee. It annually sets aside a portion of its profits for grants supporting affordable housing, and since 1990 has awarded more than $700 million in subsidies towards the creation of approximately 88,000 units of affordable housing.

Operating Results and Profitability
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.
Dividend
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.
Housing and Community Investment
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.



The following information was filed by Federal Home Loan Bank Of Cincinnati on Thursday, February 21, 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-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 (Year Of Contractual Maturity Or Next Call Date) (Details)
Advances Advances (Tables)
Advances Narrative (Details)
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 Narrative (Details)
Allowance For Credit Losses Rollforward Of Lra (Details)
Allowance For Credit Losses Schedule Of Loans Outstanding And Past Due (Details)
Available-For-Sale Securities
Available-For-Sale Securities (Tables)
Available-For-Sale Securities Contractual Maturity (Details)
Available-For-Sale Securities Interest Rate Payment Terms (Details)
Available-For-Sale Securities Major Security Type (Details)
Available-For-Sale Securities Narrative (Details)
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)
Capital Narrative (Details)
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 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 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 Form 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 Amoritzation 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 Obligations 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 Pentegra Defined Benefit Plan (Details)
Pension And Postretirement Benefit Plans Periodic Benefit Cost Key Assumptions (Details)
Pension And Postretirement Benefit Plans Postretirement Benefit Plan Assumptions (Details)
Recently Issued Accounting Standards And Interpretations
Recently Issued Accounting Standards And Interpretations (Policies)
Segment Information
Segment Information (Tables)
Segment Information Asset Balances (Details)
Segment Information Financial Performance (Details)
Summary Of Significant Accounting Policies (Notes)
Summary Of Significant Accounting Policies Narrative (Details)
Summary Of Significant Accounting Policies Narrative Asu Adoption: Improving The Presentation Of Net Periodic Pension And Postretirement Benefit Cost (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: 0001326771-19-000007
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

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