FHLBank Announces First Quarter Operating Results
April 28, 2016
FHLBank Topeka (FHLBank) announces its first quarter 2016 operating results. FHLBank is reporting net income computed in accordance with U.S. generally accepted accounting principles (GAAP) of $40.5 million and $31.1 million for the three months ended March 31, 2016 and 2015, respectively. Other operating highlights from the quarter are presented in the full report. FHLBank expects to file its Form 10-Q for the quarter ended March 31, 2016, with the Securities and Exchange Commission (SEC) on or about May 5, 2016.
President’s Comments
“We are pleased to announce strong earnings for the first quarter,” said Andrew J. Jetter, president and CEO of FHLBank Topeka. “In the current interest rate environment, our 6 percent Class B dividend significantly lowers the effective borrowing cost for members, driving higher advance balances and net income.”
Click to see full report.