ATLANTA, Aug. 14 /PRNewswire/ -- Federal Home Loan Bank of Atlanta (the
Bank) today announced financial results for the quarter ended June 30,
2007, as well as dividend guidance for the third quarter of 2007.
2007 Second Quarter Operating Highlights
As of June 30, 2007, the Bank had total assets of $148.4 billion,
representing an increase of $7.6 billion, or 5.43 percent, from December
31, 2006, primarily as a result of an increase in federal funds sold and
advances. Advances, the largest component of Bank assets, increased by $2.7
billion to $104.2 billion during this same period.
The Bank's net income for the three months ended June 30, 2007 totaled
$93.2 million, a decrease of 13.1 percent from $107.3 million for the three
months ended June 30, 2006. The second quarter 2007 performance resulted in
an annualized return on average equity (ROE) of 6.05 percent, compared to
6.85 percent for the second quarter 2006, and an annualized return on
average assets of 0.26 percent for the second quarter 2007, compared to
0.31 percent for the second quarter 2006.
For the six months ended June 30, 2007, net income totaled $189.0
million, a decrease of 9.46 percent from $208.8 million for the six months
ended June 30, 2006. The Bank's annualized ROE was 6.15 percent for the six
months ended June 30, 2007 as compared to 6.80 percent for the six months
ended June 30, 2006, and the Bank's annualized return on average assets was
0.27 percent for the six months ended June 30, 2007, compared to 0.30
percent for the six months ended June 30, 2006.
The decrease in net income for the three- and six-month periods ended
June 30, 2007 compared to the same periods ended June 30, 2006 was due to a
decrease in both net interest income and other income.
For the quarter ended June 30, 2007, the Bank distributed $85.6 million
of earnings to members as a return on their capital investment in the Bank,
representing an annualized dividend rate of 6.00 percent for the second
quarter, as compared to the annualized dividend rate of 5.90 percent for
each of the previous two quarters. The Bank increased its retained earnings
during the second quarter of 2007 by $7.6 million. The Bank's retained
earnings balance was $425.9 million as of June 30, 2007.
The Bank filed its second quarter financial report on Form 10-Q with
the SEC on Monday, August 13, 2007.
Third 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 September 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 third 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 dividend payment, 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 of Federal Home Loan Bank
of Atlanta, +1-404-888-8158, cmcentee@fhlbatl.com
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