Federal Home Loan Banks

Federal Home Loan Bank of Dallas Reports Fourth Quarter and Full Year 2023 Operating Results

Retrieved on: 
Friday, February 9, 2024
Banking, Professional Services, Finance, Federal, Federal Home Loan Banks, AHP, Investment, Bank, MBS, Sale, Form 10-K, United States Treasury security, Security (finance), Federal Reserve, Cryptocurrency

The Federal Home Loan Bank of Dallas (Bank) today reported net income of $212.4 million for the quarter ended December 31, 2023.

Key Points: 
  • The Federal Home Loan Bank of Dallas (Bank) today reported net income of $212.4 million for the quarter ended December 31, 2023.
  • Total assets at December 31, 2023 were $128.3 billion, compared with $147.6 billion at September 30, 2023 and $114.3 billion at December 31, 2022.
  • Advances totaled $80.0 billion at December 31, 2023, compared with $91.3 billion at September 30, 2023 and $68.9 billion at December 31, 2022.
  • At December 31, 2023, September 30, 2023 and December 31, 2022, the Bank also held a $0.1 billion long-term U.S. Treasury Note classified as trading.

Texas State Affordable Housing Corporation Awards $31.5 Million in Private Activity Bonds to Finance Norman Commons

Retrieved on: 
Friday, February 9, 2024
Magnet, Federal Home Loan Banks, Housing, General obligation bond, Homelessness, Project Connect, Sale, Risk, Private, Wells Fargo, Property management

Austin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) has awarded $31.5 million in Private Activity Bonds to Foundation Communities to provide capital for the construction and development of Norman Commons Apartments in Austin.

Key Points: 
  • Austin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) has awarded $31.5 million in Private Activity Bonds to Foundation Communities to provide capital for the construction and development of Norman Commons Apartments in Austin.
  • When complete, Norman Commons will create 156 units of affordable rental housing targeted for low-income households who earn no more than 60% of the Median Family Income.
  • Norman Commons will be located in East Austin, next to the Boggy Creek neighborhood, in an area that includes apartment communities and commercial buildings.
  • TSAHC approved $31.5 million in Private Activity Bonds to provide the primary financing toward the $62.3 million budget for the project.

Bogota Financial Corp. Reports Results for the Three and Twelve Months Ended December 31, 2023

Retrieved on: 
Tuesday, February 6, 2024
Banking, Professional Services, Finance, Partnership, NCAA, CECL, Fairleigh Dickinson University, FDIC, MHC, Environment, Retirement, Comparison, Three Months, The Twelve Months, NOW, Sale, Bank, Advertising, Federal Home Loan Banks, Growth, Cryptocurrency

Comparison of Operating Results for the Three Months Ended December 31, 2023 and December 31, 2022

Key Points: 
  • Comparison of Operating Results for the Three Months Ended December 31, 2023 and December 31, 2022
    Net income decreased by $3.1 million, or 161.9%, to a net loss of $1.2 million for the three months ended December 31, 2023 from net income of $1.9 million for the three months ended December 31, 2022.
  • Interest expense on interest-bearing deposits increased $3.1 million, or 140.5%, to $5.2 million for the three months ended December 31, 2023 from $2.2 million for the three months ended December 31, 2022.
  • Net interest income decreased $3.1 million, or 51.4%, to $2.9 million for the three months ended December 31, 2023 from $6.0 million for the three months ended December 31, 2022.
  • Comparison of Operating Results for the Twelve Months Ended December 31, 2023 and December 31, 2022
    Net income decreased by $6.2 million, or 90.7%, to $643,000 for the twelve months ended December 31, 2023 from $6.9 million for the twelve months ended December 31, 2022.

First Bancorp of Indiana, Inc. Announces Financial Results

Retrieved on: 
Tuesday, February 6, 2024
Federal, ROA, COVID-19, Growth, Risk management, Financial instrument, ACL, CECL, FHLB, FDIC, Government, News, Environment, ROE, Housing, ASU, Investment, NIM, Fiscal, Futures contract, Fannie Mae, Sale, Bank, Federal Home Loan Banks

This compares to an annualized ROA of 0.64% and an annualized ROE of 11.51% for the corresponding period last fiscal year.

Key Points: 
  • This compares to an annualized ROA of 0.64% and an annualized ROE of 11.51% for the corresponding period last fiscal year.
  • Proceeds from the Company’s $12 million subordinated debt offering and wholesale deposits acquired by the Bank funded additional growth.
  • At 8.11%, First Federal’s tier one capital ratio exceeded the five percent regulatory standard for “well-capitalized” financial institutions.
  • Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results.

Federal Home Loan Bank of Atlanta Commits More Than $40 Million for Homeownership Grants

Retrieved on: 
Monday, February 5, 2024
Senior counsel, Federal Emergency Management Agency, AHP, Veteran, FEMA, Federal Home Loan Banks, Rehabilitation, Firefighter, Health care

ATLANTA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that more than $40 million in funding is now available through its 2024 Affordable Housing Program (AHP) Homeownership Set-aside Program.

Key Points: 
  • ATLANTA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that more than $40 million in funding is now available through its 2024 Affordable Housing Program (AHP) Homeownership Set-aside Program.
  • The products within this program provide direct assistance to enable eligible borrowers to purchase or rehabilitate a home.
  • “FHLBank Atlanta’s commitment of more than $40 million is the most contributed through this grant program in the Bank’s history,” said FHLB Atlanta President and Chief Executive Officer Kirk Malmberg.
  • “Each year, we are proud to see our members utilize this funding to support customers’ homeownership goals.

First National Bank Alaska announces unaudited results for fourth quarter 2023

Retrieved on: 
Friday, February 2, 2024
OTCQX, Growth, Interest, Environment, Federal Reserve, Federal, First National, Sale, Federal Open Market Committee, Federal Home Loan Banks, National bank, Bank

ANCHORAGE, Alaska, Feb. 01, 2024 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the fourth quarter of 2023 was $16.6 million, or $5.24 per share.

Key Points: 
  • ANCHORAGE, Alaska, Feb. 01, 2024 (GLOBE NEWSWIRE) -- First National Bank Alaska’s (OTCQX:FBAK) net income for the fourth quarter of 2023 was $16.6 million, or $5.24 per share.
  • “Resilience was the watchword for First National in 2023, as the bank responded several times to a rapidly changing environment for our industry and our customers,” said First National Board Chair and CEO/President Betsy Lawer.
  • Growth in assets in 2023 was a result of borrowing under the Federal Reserve Bank Term Funding Program.
  • Return on equity as of December 31, 2023, increased to 13.97% compared to 12.83% for the same period last year.

NorthEast Community Bancorp, Inc. Reports Results for the Fourth Quarter and Year Ended December 31, 2023

Retrieved on: 
Thursday, February 1, 2024
Federal, Community Bank, CECL, FHLB, Environment, Tax, Compass (drawing tool), Investment, Federal Reserve Bank, Depreciation, Atlantic Ocean, Sale, Death, Bank, Advertising, Insurance, Federal Home Loan Banks

Total assets increased by $339.2 million, or 23.8%, to $1.8 billion at December 31, 2023, from $1.4 billion at December 31, 2022.

Key Points: 
  • Total assets increased by $339.2 million, or 23.8%, to $1.8 billion at December 31, 2023, from $1.4 billion at December 31, 2022.
  • Net interest income totaled $25.2 million for the three months ended December 31, 2023, as compared to $20.9 million for the three months ended December 31, 2022.
  • We charged-off $312,000 during the year ended December 31, 2023 as compared to charge-offs of $449,000 during the year ended December 31, 2022.
  • The unrealized gain of $621,000 on equity securities during the three months ended December 31, 2023 was due to market interest rate volatility during the quarter ended December 31, 2023.

Landmark Bancorp, Inc. Announces Fourth Quarter Earnings Per Share of $0.48

Retrieved on: 
Wednesday, January 31, 2024
Growth, Agriculture, FHLB, Telephone, Federal Reserve, Federal, Acquisition, Sale, Federal Home Loan Banks, Organization, Bank

Manhattan, KS, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.48 for the three months ended December 31, 2023, compared to $0.53 per share in the third quarter of 2023 and $0.22 per share in the same quarter last year. Net earnings for the fourth quarter of 2023 amounted to $2.6 million, compared to $2.9 million in the prior quarter and $1.2 million for the fourth quarter of 2022. For the three months ended December 31, 2023, the return on average assets was 0.67%, the return on average equity was 9.39%, and the efficiency ratio was 71.9%.

Key Points: 
  • Net earnings for the fourth quarter of 2023 amounted to $2.6 million, compared to $2.9 million in the prior quarter and $1.2 million for the fourth quarter of 2022.
  • Our net interest margin increased to 3.11% during the fourth quarter of 2023 from 3.06% in the prior quarter.
  • Landmark recorded net loan charge-offs of $362,000 in the fourth quarter of 2023 compared to net loan charge-offs of $67,000 in the fourth quarter of 2022 and net loan recoveries of $521,000 in the third quarter of 2023.
  • The effective tax rate was (4.4%) in the fourth quarter of 2023 compared to (62.5%) in the fourth quarter of 2022 and 18.9% in the third quarter of 2023.

First Savings Financial Group, Inc. Reports Financial Results for the First Fiscal Quarter Ended December 31, 2023

Retrieved on: 
Tuesday, January 30, 2024
Growth, SBA, BANK, FDIC, FHLB, News, Wealth, ASU, BEST, Mr. Cooper, Comparison, Three Months, Savings bank, Bank, Sale, Letter, Common, Insurance, Federal Home Loan Banks, Finance, Real estate

The core banking segment reported net income of $4.0 million, or $0.59 per diluted share for the quarter ending December 31, 2023.

Key Points: 
  • The core banking segment reported net income of $4.0 million, or $0.59 per diluted share for the quarter ending December 31, 2023.
  • Noninterest income decreased $2.4 million for the three months ended December 31, 2023 as compared to the same period in 2022.
  • Noninterest expense decreased $1.5 million for the three months ended December 31, 2023 as compared to the same period in 2022.
  • Comparison of Financial Condition at December 31, 2023 and September 30, 2023
    Total assets increased $19.2 million, from $2.29 billion at September 30, 2023 to $2.31 billion at December 31, 2023.

Ponce Financial Group, Inc. Reports Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, January 30, 2024
Sale, CECL, Treasury, ASU, ESOP, Federal Home Loan Banks, Cryptocurrency

(5)   For periods in 2023, balances include both modifications to borrowers experiencing financial difficulty, in accordance with ASU 2022-02 adopted on January 1, 2023, and previously existing troubled debt restructurings.

Key Points: 
  • (5)   For periods in 2023, balances include both modifications to borrowers experiencing financial difficulty, in accordance with ASU 2022-02 adopted on January 1, 2023, and previously existing troubled debt restructurings.
  • Net income for the three months ended December 31, 2023 was $0.5 million compared to net income of $2.6 million for the three months ended September 30, 2023 and a net loss of ($9.2) million for the three months ended December 31, 2022.
  • Net income for the year ended December 31, 2023 was $3.4 million compared to a net loss of ($30.0) million for the year ended December 31, 2022.
  • The $4.3 million decrease in non-interest income for the three months ended December 31, 2023 compared to the three months ended September 30, 2023 was largely attributable to a grant of $3.7 million received in the third quarter of 2023 from the U.S. Treasury, partially offset by a smaller grant of $0.4 million received in the fourth quarter of 2023 from the U.S. Treasury.