Federal Home Loan Banks

Federal Home Loan Bank of San Francisco Leads Two Roundtable Discussions with Rep. Pete Aguilar and Rep. Greg Stanton to Address Affordable Housing Crisis

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пятница, мая 31, 2024
Partnership, Health, American Dream, Work, SAN, Bank, Housing, Senior counsel, House, AHP, Federal Home Loan Banks, Renewable energy

SAN FRANCISCO, May 31, 2024 (GLOBE NEWSWIRE) -- As part of its ongoing, mission-driven effort to address the pressing issue of housing affordability, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) led two separate roundtable discussions in California and Arizona this week.

Key Points: 
  • SAN FRANCISCO, May 31, 2024 (GLOBE NEWSWIRE) -- As part of its ongoing, mission-driven effort to address the pressing issue of housing affordability, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) led two separate roundtable discussions in California and Arizona this week.
  • On Wednesday, May 29, U.S. Representative and Chair of the House Democratic Caucus Pete Aguilar (D-33) convened a high-level discussion group of relevant players to brainstorm innovations in affordable housing and to identify appropriate resources.
  • Since 1990, the Bank has awarded $1.3 billion in AHP grants to construct, preserve, or purchase over 150,000 units of quality rental and owner-occupied affordable housing.
  • “By funding affordable housing in Arizona, California, and Nevada, FHLBank San Francisco seeks to help communities thrive with the creation of much needed secure, decent, and affordable housing,” said Teresa Bryce Bazemore, president and chief executive officer of the Federal Home Loan Bank of San Francisco.

AM Best Affirms Credit Ratings of GuideWell Mutual Holding Corporation and Its Operating Subsidiaries

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пятница, мая 31, 2024
Insurance, Professional Services, Superior, Credit, GuideWell, British Virgin Islands, Blue Shield, News, ERM, Capital loss, GGI, TSV, Growth, Life, Blue, Florida group, Federal Home Loan Banks, ALL, PR, AM Best, Depression, FSR, Risk management

In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of GuideWell Mutual Holding Corporation (GuideWell).

Key Points: 
  • In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of GuideWell Mutual Holding Corporation (GuideWell).
  • The outlook of these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best Affirms Credit Ratings of United Services Automobile Association, Its Subsidiaries and USAA Capital Corporation

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пятница, мая 31, 2024
Other Professional Services, Professional Services, Insurance, Credit, Superior, Life, ERM, USAA, FSR, AM Best, Federal Home Loan Banks

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of United Services Automobile Association (USAA) and its property/casualty (P/C) and life/health (L/H) subsidiaries.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of United Services Automobile Association (USAA) and its property/casualty (P/C) and life/health (L/H) subsidiaries.
  • Concurrently, AM Best has affirmed the Long-Term ICR and the Long-Term Issue Credit Rating (Long-Term IR) of “aaa” (Exceptional) on the medium-term note program and the senior unsecured medium-term notes of USAA Capital Corporation (USAA CAPCO).
  • In addition, AM Best has affirmed the Short-Term Issue Credit Rating (Short-Term IR) of AMB-1+ (Strongest) on the commercial paper program of USAA CAPCO.
  • USAA Limited is domiciled in London, United Kingdom; all other companies are domiciled in San Antonio, TX, unless otherwise specified.

Federal Home Loan Bank of Atlanta Commits Additional $10 Million for Affordable Housing

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вторник, мая 28, 2024
Partnership, Housing, Workforce housing, AMI, Acquisition, Rehabilitation, AHP, Federal Home Loan Banks, Management

ATLANTA, May 28, 2024 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is contributing $10 million to affordable housing through a new Workforce Housing Plus+ Program.

Key Points: 
  • ATLANTA, May 28, 2024 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is contributing $10 million to affordable housing through a new Workforce Housing Plus+ Program.
  • “FHLBank Atlanta offers programs to address a range of affordable housing needs, and this year, we will contribute $100 million in grants through our members for affordable housing and community development,” said FHLBank Atlanta President and Chief Executive Officer Kirk Malmberg.
  • Additionally, in April FHLBank Atlanta announced that another $55 million will become available on June 27 through its annual AHP General Fund Program.
  • Member institutions may apply for up to $1 million in grant funding per project to support the acquisition, construction, or rehabilitation of affordable multifamily and single-family housing.

Federal Home Loan Bank of Indianapolis releases annual Impact Report in Indiana and Michigan

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вторник, мая 21, 2024
Organization, Bank, Housing, Federal Home Loan Banks, Renewable energy

INDIANAPOLIS, May 21, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis or “Bank”) has released its 2023 Impact Report detailing the Bank’s contributions to affordable housing and community development in Indiana and Michigan.

Key Points: 
  • INDIANAPOLIS, May 21, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis or “Bank”) has released its 2023 Impact Report detailing the Bank’s contributions to affordable housing and community development in Indiana and Michigan.
  • The report firmly establishes the Bank’s role as a critical economic driver in the region supporting at-risk and underserved populations through required and voluntary programs.
  • In 2023, grants of up to $600,000 helped fill the development gap for the construction or preservation of 1,371 units of affordable housing across Indiana and Michigan.
  • $2,380,000 was awarded through the Special Purpose Credit Program called HomeBoost: Minority Down Payment Assistance Program to 159 households.

Statement by Ryan Donovan, President and CEO, Council of Federal Home Loan Banks on FHFA’s Request for Input on Mission of FHLBanks

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четверг, мая 16, 2024
Congress, AHP, Federal Home Loan Banks, FHFA, Housing, History, Council, Bank

WASHINGTON, May 16, 2024 (GLOBE NEWSWIRE) -- Ryan Donovan, President and Chief Executive Officer of the Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today released the following statement in response to the publication of the Federal Housing Finance Agency’s Request for Input on the mission of the FHLBanks.

Key Points: 
  • WASHINGTON, May 16, 2024 (GLOBE NEWSWIRE) -- Ryan Donovan, President and Chief Executive Officer of the Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today released the following statement in response to the publication of the Federal Housing Finance Agency’s Request for Input on the mission of the FHLBanks.
  • “Today, FHFA issued a request for input on the mission of the FHLBanks.
  • The FHLBanks have clearly met these mission objectives throughout their history and continue to fulfill them today.
  • Each FHLBank is either already making additional voluntary contributions or is in the process of increasing its voluntary contribution levels.

FHLBank San Francisco Celebrates 20th Anniversary of AHEAD Grant Program with $4 Million for Economic Vitality Initiatives in Arizona, California, and Nevada

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среда, мая 15, 2024
Partnership, Entrepreneurship, PEF, Economic development, Small business, Native, SAN, Person, Hopi, Housing, Government, Disability, Veteran, Federal Home Loan Banks

SAN FRANCISCO, May 15, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) is allocating $4 million to its annual Access to Housing and Economic Assistance for Development (AHEAD) economic development program, to be distributed through grants of up to $100,000 throughout Arizona, California, and Nevada.

Key Points: 
  • SAN FRANCISCO, May 15, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) is allocating $4 million to its annual Access to Housing and Economic Assistance for Development (AHEAD) economic development program, to be distributed through grants of up to $100,000 throughout Arizona, California, and Nevada.
  • In 2023, FHLBank San Francisco and its members awarded $4 million in AHEAD Program grants to 75 recipients including:
    $100,000 to Change Labs, Inc .
  • The deadline for FHLBank San Francisco members partnering with nonprofits, government agencies, and Tribal organizations to submit applications for grants is June 3, 2024.
  • To learn more about the AHEAD Program and the application process, please visit fhlbsf.com.

Federal Home Loan Bank of Dallas Launches $1 Million Native American Housing Opportunities Fund

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четверг, мая 23, 2024
Professional Services, Philanthropy, Residential Building & Real Estate, Fund Raising, Finance, Construction & Property, Banking, Documentation, FHLB, Federal Home Loan Banks, PDF

The Federal Home Loan Bank of Dallas (FHLB Dallas) has launched a $1 million fund to support affordable housing on tribal lands in its District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.

Key Points: 
  • The Federal Home Loan Bank of Dallas (FHLB Dallas) has launched a $1 million fund to support affordable housing on tribal lands in its District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.
  • Through the new, Native American Housing Opportunities Fund, federally recognized tribes and Tribally Designated Housing Entities (TDHEs) sponsored by an FHLB Dallas member may apply for grants of $50,000 to $150,000 per application.
  • An FHLB Dallas member institution must email the application and supporting documentation as a PDF attachment to [email protected] .
  • Eligible uses for the Native American Housing Opportunities Fund include:
    “Our District has about 30 federally recognized tribes that could potentially benefit from this new initiative,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.

FHLB Cincinnati and Homeport Launch Rise Up Program with May 13 Event

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понедельник, мая 13, 2024
HUD, Education, Housing, Rise Up, AHP, FHLB, Federal Home Loan Banks, Real estate

COLUMBUS, Ohio, May 13, 2024 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati (FHLB) and Homeport will celebrate the launch of the Rise Up program on May 13 at Homeport's offices in Columbus, Ohio. The Rise Up program, funded by $5 million from FHLB Cincinnati, will offer $25,000 grants to be used for down payment, closing costs or principal reduction assistance for households that qualify in Franklin County.

Key Points: 
  • $5 million in down payment assistance will be available for qualifying homeowners in Franklin County, Ohio
    COLUMBUS, Ohio, May 13, 2024 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati (FHLB) and Homeport will celebrate the launch of the Rise Up program on May 13 at Homeport's offices in Columbus, Ohio.
  • The Rise Up program, funded by $5 million from FHLB Cincinnati, will offer $25,000 grants to be used for down payment, closing costs or principal reduction assistance for households that qualify in Franklin County.
  • "Through the Rise Up downpayment assistance pilot program approved by the FHLB Cincinnati Board of Directors, 200 families in Franklin County will have the opportunity to become homeowners for the first time in their family's history.
  • "I applaud the FHLB Cincinnati for addressing the affordable housing crisis with the launch of the Rise Up homeownership grant program, and I am especially gratified that the pilot will be launched in Columbus," said Congresswoman Joyce Beatty (OH-03).

Provident Financial Services, Inc. Announces Pricing and Upsizing of Subordinated Notes Offering

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четверг, мая 9, 2024
PFS, Sale, Prospectus, Offering, Federal Home Loan Banks, Security (finance), Bank, Keefe, Bruyette & Woods, Financial services, Provident Bank

ISELIN, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”), the holding company for Provident Bank (the “Bank”), today announced the pricing of its offering of $225 million of its 9.00% fixed-to-floating rate subordinated notes due 2034 (the “Notes”) in a registered public offering (the “Offering”).

Key Points: 
  • ISELIN, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”), the holding company for Provident Bank (the “Bank”), today announced the pricing of its offering of $225 million of its 9.00% fixed-to-floating rate subordinated notes due 2034 (the “Notes”) in a registered public offering (the “Offering”).
  • Based upon the pricing and market demand for the Notes, the Company elected to increase the aggregate principal amount of the Notes to $225 million from the previously announced amount of $200 million.
  • The Company expects to close the Offering, subject to the satisfaction of customary closing conditions, on or about May 13, 2024.
  • Piper Sandler & Co. and Keefe, Bruyette & Woods, A Stifel Company are acting as joint book-running managers for the Offering.