FHLB Cincinnati Announces First Quarter 2020 ResultsApril 28, 2020
The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the first quarter ended March 31, 2020.
For the first quarter, net income was $80 million and return on average equity (ROE) was 6.94 percent. This compares to net income of $73 million and ROE of 5.59 percent for the same period of 2019.
Total assets at March 31, 2020 were $122.5 billion, an increase of $29.0 billion (31 percent) from year-end 2019.
Mission Asset Activity – comprising major activities with members including Advances, Letters of Credit (off-balance sheet), and the Mortgage Purchase Program – was $108.1 billion at March 31, 2020, an increase of $32.7 billion (43 percent) from year-end 2019. The increase in Mission Asset Activity was primarily driven by growth in Advance balances. The FHLB experienced Advance growth across its membership in the first quarter as the financial markets reacted to the coronavirus pandemic (COVID-19), and members turned to the FHLB for liquidity. Being a preferred partner and reliable source of liquidity, even during times of extraordinary market stress, is a principal component of the FHLB's mission.