FHLB Cincinnati Announces Third Quarter 2020 ResultsOctober 29, 2020
The Federal Home Loan Bank of Cincinnati today released unaudited financial results for the third quarter ended September 30, 2020.
For the third quarter, net income was $57 million and return on average equity (ROE) was 4.70 percent. This compares to net income of $63 million and ROE of 5.36 percent for the same period of 2019.
Total assets at September 30, 2020 were $74.1 billion, a decrease of $19.4 billion (21 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 $60.2 billion at September 30, 2020, a decrease of $15.2 billion (20 percent) from year-end 2019. The decrease in Mission Asset Activity was primarily driven by lower Advance balances as noted above, which was partially offset by a $6.8 billion increase in Letters of Credit balances.