Top Links You Must Click On
From the Wires
Federal Home Loan Bank Of New York Announces Fourth Quarter and Full-year 2012 Operating Highlights
By: PR Newswire
Feb. 20, 2013 05:26 PM
NEW YORK, Feb. 20, 2013 /PRNewswire/ -- The Federal Home Loan Bank of New York (the "Bank") today released its unaudited financial highlights for the quarter and year ended December 31, 2012.
In the fourth quarter of 2012, the Bank earned $83.9 million in net income, a decrease of $0.6 million, or 0.7 percent, from net income of $84.5 million for the fourth quarter of 2011. The Bank's net income for 2012 was $360.7 million, an increase of $116.2 million, or 47.5 percent, from net income of $244.5 million for 2011.
"The Federal Home Loan Bank of New York continued to provide a reasonable dividend to our members and fulfill the mission of our cooperative," said Alfred A. DelliBovi, president and CEO of the Bank. "Our region's strong community banks continue to make the responsible and suitable loans that will build our nation's recovery from the local level, and we are proud to partner with them to strengthen cities and towns across New Jersey, New York, Puerto Rico and the U.S. Virgin Islands."
As of December 31, 2012, total assets were $103.0 billion, an increase of $5.3 billion, or 5.4 percent, from total assets of $97.7 billion as of December 31, 2011. The increase in total assets was the result of an increase in advances during the period. As of December 31, 2012, advances were $75.9 billion, an increase of $5.0 billion, or 7.1 percent, from $70.9 billion as of December 31, 2011. This increase was driven primarily by the borrowings of one large member-lender.
As of December 31, 2012, total capital was $5.5 billion, an increase of $0.5 billion, or 10.0 percent, from $5.0 billion as of December 31, 2011. The Bank's retained earnings increased during 2012 by $75.4 million to $797.6 million as of December 31, 2012. At December 31, 2012, the Bank met its regulatory capital-to-assets ratios and liquidity requirements.
The Bank set aside $40.3 million for its Affordable Housing Program for the year ended December 31, 2012, an increase of $12.9 million, or 47.1 percent, from $27.4 million for the year ended December 31, 2011.
The Bank will publish its 2012 audited financial results in its Form 10-K filing with the Securities and Exchange Commission, which is expected to be filed by March 25, 2013.
About the Federal Home Loan Bank of New York
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
CONTACT: Eric Amig
SOURCE Federal Home Loan Bank of New York
Enterprise Open Source Magazine Latest Stories . . .
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week