FHLB Cincinnati Announces Third Quarter 2022 Results
The Federal Home Loan Bank of Cincinnati today released unaudited financial results for the third quarter ended September 30, 2022.
For the third quarter, net income was $91 million and return on average equity (ROE) was 6.43 percent. This compares to net income of $6 million and ROE of 0.60 percent for the same period of 2021. For the first nine months of 2022, net income was $148 million and ROE was 3.99 percent, compared to net income of $25 million and ROE of 0.85 percent for the same period of 2021.
Total assets at September 30, 2022 were $112.4 billion, an increase of $51.8 billion (85 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 – were $106.3 billion at September 30, 2022, an increase of $41.1 billion (63 percent) from year-end 2021. The growth in Mission Assets and Activities was driven by a $37.2 billion increase in Advance balances, which ended the quarter at $60.2 billion.