ATLANTA, Nov. 15 /PRNewswire/ -- Federal Home Loan Bank of Atlanta (the
Bank) today announced financial results for the quarter ended Sept. 30,
2007, as well as dividend guidance for the fourth quarter of 2007.
2007 Third Quarter Operating Highlights
As of Sept. 30, 2007, the Bank had total assets of $190.7 billion,
representing an increase of $50 billion, or 35.5 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
$37.8 billion to $139.3 billion during this same period.
"In the midst of this summer's credit crisis, the Bank performed very
well, responding rapidly and effectively to support the liquidity needs of
our members," said Richard Dorfman, president and CEO of FHLBank Atlanta.
"The importance and value of our mission was very clear as our member
institutions sought a dependable source of funding in a turbulent market."
The Bank's net income for the three months ended Sept. 30, 2007,
totaled $133.1 million, an increase of 20 percent from $111.0 million for
the three months ended Sept. 30, 2006. The third quarter 2007 performance
resulted in an annualized return on average equity (ROE) of 7.52 percent,
compared to 6.83 percent for the third quarter 2006, and an annualized
return on average assets of 0.31 percent for the third quarter 2007,
compared to 0.30 percent for the third quarter 2006.
For the quarter ended Sept. 30, 2007, the Bank distributed $99 million
of earnings to members as a return on their capital investment in the Bank,
representing an annualized dividend rate of 6.0 percent for the third
quarter. The Bank increased its retained earnings during the third quarter
of 2007 by $34.1 million, to $460.0 million as of Sept. 30, 2007.
The Bank's third quarter Form 10-Q financial report can be accessed
through the SEC's website at http://www.sec.gov.
2007 Fourth Quarter Dividend Guidance
Based upon currently available information, the Bank presently expects
to pay an annualized dividend in the range of 5.5 percent to 6.0 percent
for the quarter ending Dec. 31, 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 fourth 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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