FHLB Cincinnati Announces 2018 Third Quarter Results
The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the third quarter ended September 30, 2018. The FHLB expects to file its third quarter 2018 Form 10-Q with the Securities and Exchange Commission on or about November 8, 2018.
For the third quarter, net income was $92 million and return on average equity (ROE) was 6.87 percent. This compares to net income of $78 million and ROE of 5.97 percent for the same period of 2017. For the first nine months of 2018, net income was $259 million and ROE was 6.41 percent, compared to net income of $230 million and ROE of 6.06 percent for the same period of 2017.
The increase in net income and ROE for both comparison periods was primarily the result of higher net interest income. The increase in net interest income was primarily due to the rise in short-term interest rates, which improved earnings from funding assets with interest-free capital.