FHLBank Topeka Announces 2013 Fourth Quarter and Annual Operating Results
February 20, 2014
FHLBank Topeka (FHLBank) announces its fourth quarter and annual operating results for 2013. FHLBank is reporting net income computed in accordance with U.S. generally accepted accounting principles (GAAP) of $37.0 million for the quarter ended December 31, 2013, compared to net income of $28.6 million for the quarter ended December 31, 2012. FHLBank is reporting net income computed in accordance with GAAP of $119.0 million for 2013, compared to net income of $110.3 million for 2012. FHLBank expects to file its Form 10-K for 2013 with the Securities and Exchange Commission (SEC) on or about March 14, 2014.
President’s Comments
“FHLBank Topeka recorded another year of outstanding financial performance allowing the bank to pay strong dividends while increasing retained earnings almost 18 percent,” said Andrew J. Jetter, president and CEO. “Advance balances at the end of 2013 were 5 percent higher than at the end of 2012 and members continued to see great value in the MPF® Program with over $1.2 billion of mortgages purchased from members through the program in 2013.”
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