Federal Home Loan Bank of Dallas Reports First Quarter 2022 Operating Results

DALLAS–(BUSINESS WIRE)–Federal Home Loan Bank of Dallas (Bank) today reported net income of $41.1 million for the quarter ended March 31, 2022. In comparison, for the quarters ended December 31, 2021 and the March 31, 2021, the Bank reported net income revenue of $47.2 million and $47.9 million, respectively.

Total assets as of March 31, 2022 were $62.6 billion, compared to $63.5 billion as of December 31, 2021. The $0.9 billion decrease in total assets in the first quarter is mainly attributable to the decrease in the Bank’s long-term ($1.8 billion) and short-term investments. – term cash ($1.5 billion), partially offset by increases in advances from the Bank ($2.2 billion) and mortgage loans held for the portfolio ($0.2 billion).

Advances totaled $26.8 billion as at March 31, 2022, compared to $24.6 billion as at December 31, 2021. The Bank’s mortgage loans held for the portfolio totaled $3.7 billion as at March 31, 2022, compared to 3, $5 billion as of December 31, 2021.

The carrying value of the Bank’s long-term held-to-maturity securities portfolio, which consists primarily of US agency residential mortgage-backed securities (MBS), totaled $0.6 billion as of 31 March 2022 and as at December 31, 2021. the value of the Bank’s long-term available-for-sale securities portfolio, which consists primarily of U.S. agency debentures and U.S. agency commercial mortgage-backed securities, totaled $13.5 billion at March 31, 2022, compared to $15.3 billion at December 31, 2021. On March 31, 2022 and December 31, 2021, the Bank also held a $0.1 billion long-term U.S. Treasury note classified as transactional .

The Bank’s short-term liquidity is generally comprised of interest-bearing overnight deposits, sold overnight federal funds, overnight reverse repurchase agreements, U.S. Treasury bills, U.S. Treasury notes and , from time to time, may also include cash held at the Federal Reserve. As of March 31, 2022 and December 31, 2021, the Bank’s short-term liquidity totaled $17.7 billion and $19.2 billion, respectively.

The Bank’s retained earnings increased from $1.558 billion as of December 31, 2021 to $1.596 billion as of March 31, 2022. On March 29, 2022, a dividend of $3.7 million was paid to shareholders of the Bank .

Additional selected financial data as at and for the quarter ended March 31, 2022 (and, for comparative purposes, December 31, 2021 and for the quarters ended December 31, 2021 and March 31, 2021 are set forth below. analysis of the Bank’s results will be included in its Form 10-Q for the three months ended March 31, 2022 to be filed with the Securities and Exchange Commission.

About Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, which was established by Congress in 1932. The Bank is a member-owned cooperative that supports housing and community development by providing competitively priced loans (called advances) and other credit products to approximately 800 member and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank’s website at fhlb.com.