FHLBank Topeka Announces 2015 Fourth Quarter Operating Results
February 18, 2016
FHLBank Topeka (FHLBank) announces its fourth quarter 2015 operating results. FHLBank is reporting net income computed in accordance with U.S. generally accepted accounting principles (GAAP) of $20.7 million and $26.5 million for the three months ended December 31, 2015 and 2014, respectively. For the year ended December 31, 2015 and 2014, FHLBank is reporting net income of $93.4 million and $106.0 million, respectively. Other operating highlights from the quarter are presented below. FHLBank expects to file its Form 10-K for the year ended December 31, 2015 with the Securities and Exchange Commission (SEC) on or about March 10, 2016.
President's Comments
“FHLBank Topeka recorded another year of outstanding financial performance,” said Andrew J. Jetter, president and CEO. “The year was marked by a significant increase in advances along with continued growth in mortgage loans. Despite the large increase in Class B Stock outstanding, which was driven by advance growth, strong income over the year allowed us to maintain the 6 percent dividend on Class B Stock while also adding $25 million to retained earnings. The weighted average dividend rate increased from 4.2 percent in 2014 to 5.3 percent in 2015.”
Click here to view Fourth Quarter Operating Results.