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Federal Home Loan Bank Of Cincinnati (1326771) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

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 20, 2020
    
FHLB CINCINNATI ANNOUNCES 2019 RESULTS

Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the year ended December 31, 2019.
Operating Results
Net income for 2019 was $276 million and return on average equity (ROE) was 5.65 percent. This compares to net income of $339 million and ROE of 6.29 percent for 2018. For the fourth quarter of 2019, net income was $76 million and ROE was 6.64 percent, compared to net income of $80 million and ROE of 5.90 percent for the same period of 2018.
Net income decreased in both comparison periods primarily due to lower spreads earned on Advances and lower average Advance balances. However, the lower net income in both comparison periods was partially offset by increases in the fair values of certain derivatives and other financial instruments carried at fair value. Despite the decline in net income in the fourth quarter of 2019 compared to the same period of 2018, ROE was higher in the fourth quarter of 2019 due to the lower average capital balance, which resulted from the repurchases of excess stock throughout the year.
Balance Sheet Highlights
Total assets at December 31, 2019 were $93.5 billion, a decrease of $5.7 billion (six percent) from year-end 2018.
Mission Asset Activity – comprising major activities with members including Advances, Letters of Credit (off-balance sheet), and the Mortgage Purchase Program – was $75.4 billion at December 31, 2019, a decrease of $4.8 billion (six percent) from year-end 2018. The decline in Mission Asset Activity was driven by lower Advance balances.
Total investments at December 31, 2019 were $34.4 billion, an increase of $0.8 billion (two percent) from year-end 2018. Total investments included $13.5 billion of mortgage-backed securities and $20.9 billion of liquidity investments. All mortgage-backed securities held were issued and guaranteed by Fannie Mae, Freddie Mac or a U.S. agency. Liquidity investments consisted of highly-rated short-term instruments and longer-term U.S. Treasury and GSE obligations. The FHLB continued to maintain a robust amount of liquidity in order to meet the borrowing needs of members and to meet all current and anticipated financial commitments.
The FHLB exceeded all minimum regulatory capital and liquidity requirements. On December 31, 2019, GAAP capital was $4.4 billion, a decrease of 17 percent from year-end 2018, which primarily resulted from the repurchase of excess capital stock. The GAAP and regulatory capital-to-assets ratios were 4.75 percent and 4.79 percent, respectively, at December 31, 2019. Retained earnings grew seven percent in 2019 to end the year at $1.1 billion.



The following information was filed by Federal Home Loan Bank Of Cincinnati on Thursday, February 20, 2020 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
Statements Of Capital
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 Continuous Unrealized Loss Position (Details)
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 (Tables)
Consolidated Obligations Bonds By Call Feature (Details)
Consolidated Obligations Bonds By Contractual Maturity Or Next Call Date (Details)
Consolidated Obligations Bonds By Interest-Rate Type (Details)
Consolidated Obligations Bonds By Original Contractual Maturity (Details)
Consolidated Obligations Discount Notes (Details)
Consolidated Obligations Narrative (Details)
Deposits
Deposits (Tables)
Deposits Deposits (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities Derivative Fair Value Hedges (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 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 Narrative (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 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)
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: 0001326771-20-000042
Submitted to the SEC: Thu Mar 19 2020 12:22:02 PM EST
Accepted by the SEC: Thu Mar 19 2020
Period: Tuesday, December 31, 2019
Industry: Federal And Federally Sponsored Credit Agencies

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