FHLBank Announces Second Quarter Operating Results
July 28, 2016
FHLBank Topeka (FHLBank) announces its second quarter 2016 operating results. FHLBank is reporting net income computed in accordance with U.S. generally accepted accounting principles (GAAP) of $31.7 million and $26.6 million for the three months ended June 30, 2016 and 2015, respectively. For the six months ended June 30, 2016 and 2015, FHLBank is reporting net income of $72.2 million and $57.7 million, respectively. Other operating highlights from the quarter are presented below. FHLBank expects to file its Form 10-Q for the quarter ended June 30, 2016 with the Securities and Exchange Commission (SEC) on or about August 4, 2016.
President’s Comments
"FHLBank Topeka is pleased to announce strong net income for the second quarter," said Andrew J. Jetter, president and CEO. "Our strong 6 percent Class B dividend drove down the effective cost of advances during the quarter while members continued to find value in the MPF Program. In June, we were excited to add the MPF Government MBS product to our product offerings. We believe this product offers members a very competitively priced outlet for their government guaranteed loans, whether servicing is retained or released."
See full report here.