FHLB Cincinnati Announces First Quarter 2022 ResultsApril 26, 2022
The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the first quarter ended March 31, 2022.
For the first quarter, net income was $16 million and return on average equity (ROE) was 1.48 percent. This compares to net income of $19 million and ROE of 1.96 percent for the same period of 2021.
Total assets at March 31, 2022 were $79.3 billion, an increase of $18.7 billion (31 percent) from year-end 2021.
Mission Assets and Activities – comprising major activities with members including Advances, Letters of Credit (off-balance sheet), and the Mortgage Purchase Program – was $74.9 billion at March 31, 2022, an increase of $9.7 billion (15 percent) from year-end 2021. The growth in Mission Assets and Activities was primarily driven by a $10.7 billion increase in Advance balances. The increase in Advances was primarily due to a few large-asset members accessing temporary liquidity because of uncertainties in the financial markets. Despite the increase in Advances, demand for Advances continues to be impacted by the unprecedented amount of liquidity in the financial markets as a result of governmental stimulus actions in response to the COVID-19 pandemic.