FHLB Cincinnati Announces First Quarter 2021 ResultsApril 27, 2021
The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the first quarter ended March 31, 2021.
For the first quarter, net income was $19 million and return on average equity (ROE) was 1.96 percent. This compares to net income of $80 million and ROE of 6.94 percent for the same period of 2020.
Total assets at March 31, 2021 were $60.6 billion, a decrease of $4.7 billion (seven percent) from year-end 2020.
Mission Asset Activity was $66.3 billion at March 31, 2021, an increase of $3.0 billion (five percent) from year-end 2020. The increase in Mission Asset Activity was primarily driven by a $4.8 billion increase in Letters of Credit balances. The increase in Letters of Credit was due in part to members using them to secure elevated levels of public unit deposits.
See the full release and results here.