Federal Home Loan Bank of Atlanta Announces Third Quarter Results and Fourth Quarter Dividend Guidance

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Federal Home Loan Bank of Atlanta Announces Third Quarter Results and Fourth Quarter Dividend Guidance
    ATLANTA, Nov. 14 /PRNewswire/ -- The Federal Home Loan Bank of Atlanta
(FHLBank Atlanta) today released financial results for the three and nine
months ended Sept. 30, 2006. FHLBank Atlanta's assets were $144.0 billion
at Sept. 30, 2006, an increase of $810.8 million from Dec. 31, 2005.
Advances - the largest component of Bank assets - increased by $346.2
million during this same period, totaling $101.6 billion at Sept. 30, 2006.
    FHLBank Atlanta's net income for the three months ended Sept. 30, 2006
totaled $111.0 million, an increase of 42.7 percent, from $77.8 million for
the three months ended Sept. 30, 2005. The increase in net income for the
three- and nine-month periods ended Sept. 30, 2006 compared to the same
periods ended Sept. 30, 2005 was due to an increase in both net interest
income and other income.
    The third quarter 2006 performance resulted in an annualized return on
average equity ("ROE") of 6.83 percent, compared to 5.04 percent for the
third quarter 2005, and an annualized return on average assets of 0.30
percent for the third quarter 2006, compared to 0.21 percent for the third
quarter 2005.
    For the quarter ended Sept. 30, 2006, the FHLBank Atlanta distributed
$89.4 million of earnings to members as a return on their capital
investment, representing an annualized dividend rate of 5.90 percent. This
compared to an annualized dividend rate of 5.49 percent and 5.60 percent
for the quarters ended March 31, 2006 and June 30, 2006, respectively.
FHLBank Atlanta also contributed $21.6 million to retained earnings during
the quarter ended September 30, 2006. FHLBank Atlanta's retained earnings
balance was $399.2 million as of Sept. 30, 2006.
    The third quarter Form 10-Q can be accessed through FHLBank Atlanta'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 5.60 percent to 5.90 percent for
the quarter ending Dec. 31, 2006.
    About FHLBank Atlanta
    FHLBank Atlanta is a $144.0 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 obligation;
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 http://www.sec.gov.
SOURCE Federal Home Loan Bank of Atlanta
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