FHLB Cincinnati Announces First Quarter 2023 Results

The Federal Home Loan Bank of Cincinnati today released unaudited financial results for the first quarter ended March 31, 2023.

For the first quarter, net income was $127 million and return on average equity (ROE) was 8.03 percent. This compares to net income of $16 million and ROE of 1.48 percent for the same period of 2022.

Total assets at March 31, 2023 were $164.3 billion, an increase of $55.7 billion (51 percent) from year-end 2022.

Mission Assets and Activities – comprising the major products we offer to members including Advances, Letters of Credit (off-balance sheet) and the Mortgage Purchase Program – were $154.8 billion at March 31, 2023, an increase of $39.0 billion (34 percent) from year-end 2022. The growth in Mission Assets and Activities was driven by a $40.5 billion increase in Advance balances. The increase in Advances resulted primarily from depository members' greater demand for liquidity, especially short-term Advances, in response to the stress placed on the banking industry and financial markets. 

See the full release and results here.