ATLANTA, May 15 /PRNewswire/ -- Federal Home Loan Bank of Atlanta (the
Bank) today announced financial results for the quarter ended March 31,
2007, as well as dividend guidance for the second quarter of 2007.
2007 First Quarter Operating Highlights
As of March 31, 2007, the Bank had total assets of $141.3 billion,
representing an increase of $569.0 million, or .40 percent, from December
31, 2006, primarily as a result of an increase in interest-bearing deposits
and federal funds sold. Advances, the largest component of Bank assets,
decreased by $131.6 million to $101.3 billion during this same period.
The Bank had net income of $95.8 million for the three months ended
March 31, 2007, which represented a decrease of 5.61 percent from net
income of $101.5 million for the three months ended March 31, 2006. This
decrease was due to a decrease in both net interest income and other
income.
The 2007 first quarter performance resulted in an annualized return on
equity of 6.25 percent, compared to 6.74 percent for the first quarter of
2006, and an annualized return on average assets of 0.27 percent for the
first quarter 2007, compared to 0.30 percent for the first quarter 2006.
For the three months ended March 31, 2007, the Bank distributed $83.9
million of earnings to members as a return on their capital investment in
the Bank, representing an annualized dividend rate of 5.90 percent,
unchanged from the annualized dividend rate for the quarter ended December
31, 2006. The Bank also contributed $11.9 million to retained earnings
during the first quarter of 2007. The Bank's retained earnings balance was
$418.2 million as of March 31, 2007.
The Bank filed its full financial report on Form 10-Q on Thursday, May
10, 2007.
Second Quarter 2007 Dividend Guidance
Based upon currently available information, the Bank presently expects
to pay an annualized dividend in the range of 5.75 percent to 6.0 percent
for the quarter ending June 30, 2007.
About the Federal Home Loan Bank of Atlanta
The Bank is a cooperative financial services organization that provides
funding, community development grants, and other banking services to more
than 1,200 member financial institutions in Alabama, Florida, Georgia,
Maryland, North Carolina, South Carolina, Virginia, and the District of
Columbia. The Bank is one of 12 district banks in the Federal Home Loan
Bank System (the FHLB System), which since 1990 has contributed more than
$2 billion to affordable housing development in the United States.
Some of the statements made in this announcement, including, without
limitation, those statements that relate to the Bank's dividend guidance
for the second quarter of 2007, 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: the Bank's actual net income
results, which drive the determination of actual dividend payments;
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 FHLB 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 FHLB System in general.
Additional factors that might cause the Bank's results to differ from these
forward-looking statements are provided in detail in our filings with the
Securities and Exchange Commission, which are available at http://www.sec.gov.
You should not place undue reliance on forward-looking statements,
since the statements speak only as of the date that they are made. The Bank
has no obligation and does not undertake to publicly update, revise or
correct any of the forward-looking 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.
SOURCE Federal Home Loan Bank of Atlanta
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Related links:
http://www.fhlbatl.com/
http://www.prnewswire.com/comp/149931.html/
CONTACT:
Christopher McEntee, Federal Home Loan Bank
of Atlanta, +1-404- 888-8158, cmcentee@fhlbatl.com
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