ATLANTA, Aug. 11 /PRNewswire/ -- The Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) today released financial results for the second quarter
and six months ended June 30, 2006. FHLBank Atlanta's assets were $145.7
billion at June 30, 2006, an increase of $2.5 billion from December 31,
2005. Advances, the largest component of Bank assets, grew by $1.2 billion
during this same period, or 1.2 percent, totaling $102.5 billion at June
30, 2006.
The Bank's net income for the three months ended June 30, 2006, totaled
$107.3 million, an increase of 16.8 percent from $91.8 million for the
three months ended June 30, 2005. The second quarter 2006 performance
resulted in an annualized return on average equity (ROE) of 6.85 percent,
compared with 6.30 percent for the second quarter 2005.
For the six months ended June 30, 2006, the Bank's net income increased
to $208.8 million from $163.0 million for the six months ended June 30,
2005. The Bank's annualized ROE was 6.80 percent for the six months ended
June 30, 2006, as compared with 5.77 percent for the six months ended June
30, 2005.
For the quarter ended June 30, 2006, the Bank distributed $82 million
of earnings to stockholders as a return on their capital investment in the
Bank, representing an annualized dividend rate of 5.60 percent. The Bank
also contributed $25.3 million to retained earnings during the quarter
ended June 30, 2006. The Bank's overall retained earnings balance stood at
$377.6 million as of June 30, 2006.
The second quarter Form 10-Q can be accessed through the Bank's website
at http://www.fhlbatl.com or the SEC's website at http://www.sec.gov.
Dividend Guidance
FHLBank Atlanta today provided preliminary guidance of its objective to
pay an annualized dividend in the range of 5.50 percent to 5.80 percent for
the quarter ending Sept. 30, 2006.
About FHLBank Atlanta
FHLBank Atlanta is a $145.7 billion financial services organization
that provides low-cost financing, community development grants, and other
banking services to more than 1,200 financial institutions 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 $2 billion to affordable housing development in the United States.
Some of the statements made herein, including those that relate to the
proposed dividend, 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 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 actual net income results; legislative and regulatory
actions or changes, including the Federal Housing Finance Board's proposed
rule on retained earnings and capital; future economic and market
conditions; changes in demand for advances or consolidated obligations;
changes in interest rates; political, national and world events; and
adverse developments or events affecting or involving other FHLBanks 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 our filings with the Securities and Exchange Commission, which
are available at htp://www.sec.gov.
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 of Federal Home Loan Bank
of Atlanta, +1-404-888-8158, or cmcentee@fhlbatl.com
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