Chief Marketing Officer
Assistant Director of Corporate Communications
ATLANTA, Aug. 12, 2009 -The Board of Directors of Federal Home Loan Bank of Atlanta (the Bank) has approved an annualized dividend rate for the second quarter of 0.84 percent. The Bank also announced that it will not repurchase activity-based excess capital stock outstanding as of the end of the second quarter of 2009. The Bank will continue to evaluate on a quarterly basis whether to repurchase excess capital stock.
The dividend rate is equal to average three-month LIBOR (London Interbank Offered Rate) for the period of April 1, 2009 to June 30, 2009, and is applicable to capital stock held during that period. The dividend will be credited to members’ daily investment accounts at the close of business on Friday, Aug. 14, 2009.
The dividend and excess stock repurchase decisions reflect the conservative financial management approach the Bank is taking as credit markets stabilize and improve. “The Bank is pleased to return a dividend to our members,” said Richard A. Dorfman, President and Chief Executive Officer, FHLBank Atlanta. “We will continue to work diligently to provide ongoing access to liquidity while protecting members’ investment in the institution.”
If you have questions, please contact FHLBank Atlanta’s Funding Desk at 1.800.536.9650, ext. 8011.
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help more than 1,200 member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System which since 1990 has contributed more than $3.6 billion to the Affordable Housing Program.
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Some of the statements made in this announcement are “forward-looking statements”, which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by the forward-looking statements.
The forward-looking statements may not be realized due to a variety of factors, including, without limitation: legislative and regulatory actions or changes; future economic and market conditions; changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates; political, national and world events; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general. Additional factors that might cause the Bank’s results to differ from these forward-looking statements are provided in detail in the Bank’s filings with the Securities and Exchange Commission, which are available at www.sec.gov.
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