FHLB Cincinnati Announces Third Quarter 2019 ResultsOctober 29, 2019
Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati today released unaudited financial results for the third quarter ended September 30, 2019.
For the third quarter, net income was $63 million and return on average equity (ROE) was 5.36 percent. This compares to net income of $92 million and ROE of 6.87 percent for the same period of 2018. For the first nine months of 2019, net income was $200 million and ROE was 5.35 percent, compared to net income of $259 million and ROE of 6.41 percent for the same period of 2018.
Net interest income decreased in both comparison periods primarily due to lower Advance balances and lower spreads earned on Advances. However, these decreases were partially offset by higher non-interest income (loss) in both comparison periods primarily due to net gains realized on certain derivatives.