OVERVIEW OF FEDERAL HOME LOAN BANKS
COOPERATIVELY OWNED FEDERAL HOME LOAN BANKS WERE CREATED BY CONGRESS IN 1932
MEMBER FINANCIAL INSTITUTIONS ACROSS THE COUNTRY RELY ON FHLBANKS FOR LIQUIDITY
MEMBERS INCLUDE BANKS, CREDIT UNIONS, INSURANCE COMPANIES, AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS)
FHLBanks are Self-Capitalizing Cooperatives
FHLBanks are Safe and Sound
FHLBanks Liquidity is Reliable
FHLBanks Provide Access to the Capital Markets
FHLBANK ATLANTA FACTS
The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is one of the 11 member-owned regional cooperative banks of the Federal Home Loan Bank System. The FHLBanks have the mission of providing member institutions with a reliable source of liquidity to support the financing of housing and community lending.
FHLBank Atlanta fulfills this mission by offering competitively-priced financing, affordable housing grants, and other banking services to help its members make affordable home mortgages, extend other credit, and support economic development in the communities they serve.
FHLBank Atlanta's members are located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.
Total Advances (loans): $45.4 billion (as of 12/31/2021)
Total Assets: $78.7 billion (as of 12/31/2021)
Net Income: $7 million (fourth quarter, 2021)
FHLBank Atlanta President and CEO: Kirk Malmberg
Headquarters: 1475 Peachtree St. N.E., Atlanta, GA 30309
Number of Employees: 308
FHLBANK ATLANTA DISTRICT
MEMBERS BY STATE AS OF 12/31/2021
NUMBER OF BANK MEMBERS
BY CHARTER TYPE AS OF 12/31/2021
WHAT WE DO
Connecting Investors with Homeowners and Communities
FHLBank Atlanta's primary function is to provide a readily available, competitively-priced source of funds (advances) to its members. Other products, including letters of credit and affordable housing grants, also support members’ funding needs and their ability to deliver financial services to their communities. By providing its members with such liquidity, the Bank fulfills its statutory mission to enhance the availability of residential mortgage and community investment credit.
FHLBANK ATLANTA PRODUCTS AND SERVICES
FHLBank Atlanta provides its members and housing associates with a reliable source of short- and long-term, attractively-priced funding (advances) to finance home mortgages, home equity loans, commercial real estate, small business loans, and other types of lending activity.
Letters of Credit (LOCs)
Cash Management and Securities Safekeeping
Community Investment Products and Programs
Affordable Housing Program General Fund - Rental and Ownership
Homeownership Set-aside Program
Community Partners Product
• Provides up to $10,000 for home purchase assistance to current or retired law enforcement officers, educators, health care
workers, firefighters, other first responders, "essential workers," active-duty military personnel, and veterans or their
• Both first-time homebuyers and non-first-time homebuyers may be eligible.
Community Rebuild and Restore Product
• Provides up to $10,000 for the rehabilitation of an existing owner-occupied home located in “Major Disaster Declaration”
areas as designated by the Federal Emergency Management Agency (FEMA), including areas designated "Major Disaster"
as a result of the COVID-19 pandemic.
First-time Homebuyer Product
• Provides up to $7,500 to help first-time homebuyers cover closing costs and down payments.
• Since 1997, the First-time Homebuyer Product has helped more than 30,300 families purchase homes.
HOW FHLBANK ATLANTA MANAGES RISK
As a cooperative, the Bank is designed to meet eligible members’ funding needs in any economic cycle. Due to conservative credit underwriting and collateral valuation standards, FHLBank Atlanta has never suffered a credit loss on an advance or required taxpayer-funded assistance. The Bank has clear and consistent policies governing advances, and each member is held to the same uncompromising standards. These policies are well documented in the Member Products and Services Guide, which is available on the Bank’s corporate website, www.fhlbatl.com.
FHLBank Atlanta underwrites each member before granting it credit. In order to obtain credit, a member must purchase capital stock in the Bank equal to 3.75 percent of the amount of the advance, or 0.10 percent of any outstanding letter of credit. As a result of this requirement, the Bank’s capital grows as lending activity grows.
All members must pledge sufficient eligible collateral to secure 100 percent of their advances. Discounts are applied to pledged collateral based on current market value.
The Bank also regularly tests collateral pledged by members for policy compliance. Any loan or asset found to fail these tests is not eligible collateral and must be withdrawn from the pledged collateral pool and replaced with eligible collateral.
The Bank remains mindful of changing market conditions and regularly re-evaluates and refines the credit underwriting policies and collateral valuation methodologies. The Bank is vigilant in ensuring that its lending and investing activity is executed in a safe and sound manner, balancing the mission of providing liquidity to members with sound risk management practices.
The Housing and Economic Recovery Act of 2008 (HERA) created an independent agency of the U.S. government,
the Federal Housing Finance Agency (FHFA), to regulate the FHLBanks, Fannie Mae, and Freddie Mac.
The FHFA is headed by an independent director. In addition to the Director, HERA provided for three Deputy Directors: (1) a Deputy Director of the Division of Enterprise Regulation, overseeing Fannie Mae and Freddie Mac; (2) a Deputy Director of the Division of Federal Home Loan Bank Regulation, overseeing the FHLBanks; and (3) a Deputy Director for Housing Mission and Goals, overseeing both “the housing mission and goals” of Fannie Mae and Freddie Mac and “the housing finance and community and economic development mission” of the FHLBanks.
HERA also established a four member oversight board – the Federal Housing Finance Oversight Board – consisting of the Director, who serves as chair; the Secretaries of Treasury and HUD; and the SEC Chairman. The Oversight Board advises the Director on overall strategies and policies for FHFA.
FHLBANK ATLANTA STATES INFORMATION
For additional information or questions, please contact:
Vice President and Director of Government and Industry Relations
202.944.6016 | firstname.lastname@example.org
BOARD OF DIRECTORS
Richard A. Whaley (Chair)
President, Chief Executive Officer,
Citizens Bank of Americus
R. Thornwell Dunlap, III (Vice Chair)
President and Chief Executive Officer
Chairman of the Board and
Chief Executive Officer
Suzanne S. DeFerie
Southern Pines, NC
William C. Handorf
Professor of Finance, Banking, and
George Washington University
Scott C. Harvard
President and Chief Executive Officer
First National Corporation
Chairman of the Board
Antares Capital Corporation
Miami Shores, FL
Kim C. Liddell
William Lusk, Jr.
Chief Executive Officer
IDB Global Federal Credit Union
Enterprise Community Development Inc.
Edwina L. Payne
Chief information Officer
John B. Rucker
Stifel, Nicolaus & Company, Inc. Montgomery, AL
Kim D. Saunders
Co-founder and Co-Managing Director
Legacy Two Advisors
Chief Executive Officer and Director
River Bank & Trust