Sheryl Touchton
Director of Corporate Communications
404.888.5594
Thursday
Oct
24
CONTACT:
Sheryl Touchton
Federal Home Loan Bank of Atlanta
stouchton@fhlbatl.com
404.716.4296
Federal Home Loan Bank of Atlanta Announces Third Quarter 2024
Operating Highlights and Declares Dividend
Federal Home Loan Bank of Atlanta
Financial Highlights
(Preliminary and Unaudited)
(Dollars in millions)
Statements of Condition |
As of September 30, 2024 |
|
As of December 31, 2023 |
Advances |
$86,536 |
|
$96,608 |
Investments |
47,882 |
|
54,207 |
Mortgage loans held for portfolio, net |
93 |
|
103 |
Total assets |
135,793 |
|
152,370 |
Consolidated obligations, net |
124,414 |
|
141,572 |
Total capital stock |
5,159 |
|
5,597 |
Retained earnings |
2,708 |
|
2,524 |
Accumulated other comprehensive (loss) income |
(7) |
|
(5) |
Total capital |
7,860 |
|
8,116 |
Capital-to-assets ratio (GAAP) |
5.79% |
|
5.33% |
Capital-to-assets ratio (Regulatory) |
5.79% |
|
5.33% |
|
Three Months Ended Setpember 30, |
||
Operating Results and Performance Ratios |
2024 |
|
2023 |
Net interest income |
$221 |
|
$240 |
Standby letters of credit fees |
5 |
2 |
|
Other income |
1 |
|
(4) |
Total noninterest expense(1) |
60 |
|
40 |
Affordable Housing Program assessment |
17 |
|
20 |
Net income |
150 |
|
178 |
Return on average assets |
0.41% |
|
0.43% |
Return on average equity |
7.50% |
|
8.76% |
|
Nine Months Ended September 30, |
||
Operating Results and Performance Ratios |
2024 |
|
2023 |
Net interest income |
$716 |
|
$648 |
Standby letters of credit fees |
13 |
6 |
|
Other income |
4 |
|
(4) |
Total noninterest expense(1) |
154 |
|
122 |
Affordable Housing Program assessment |
58 |
|
53 |
Net income |
521 |
|
475 |
Return on average assets |
0.45% |
|
0.34% |
Return on average equity |
8.29% |
|
7.29% |
(1)Total noninterest expense includes voluntary housing contributions of $18 million and $0 for the third quarter of 2024 and 2023, respectively, and $33 million and $7 million for the first nine months of 2024 and 2023, respectively.
The selected financial data above should be read in conjunction with the financial statements and notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Bank's Third Quarter 2024 Form 10-Q expected to be filed with the SEC on or about November 7, 2024 which will be available at www.fhlbatl.com and on www.sec.gov.
About Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank is a cooperative whose members are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System (FHLBank System). Since 1990, the FHLBanks have awarded approximately $9.1 billion through the AHP's competitive and homeownership set-aside programs, assisting more than 1.2 million households.
For more information, visit our website at www.fhlbatl.com.
To the extent that the statements made in this announcement may be deemed as “forward-looking statements”, they are made within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, disbursements, expenses and program allocations for voluntary contributions to affordable housing and community development 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 such forward-looking statements, and the reader is cautioned not to place undue reliance on them, since those may not be realized due to a variety of factors, including, without limitation: legislative, regulatory and accounting actions, changes, approvals or requirements; completion of the Bank’s financial closing procedures and final accounting adjustments for the most recently completed quarter; SOFR variations; future economic, liquidity and market conditions (including in the housing market and banking industry); changes in demand for advances, advance levels, consolidated obligations of the Bank and/or the FHLBank System and their market; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, and world events; disruptions in information systems; membership changes; mergers and acquisitions involving members; and other adverse developments or events, including extraordinary or disruptive events, affecting the market, involving other Federal Home Loan Banks, their members or the FHLBank System in general, including acts or war and terrorism. Additional factors that might cause the Bank's results to differ from forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.
The forward-looking statements in this release speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of these statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law. New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements