FHLBank Topeka Files Second Quarter 2008 10-Q with the SEC

August 13, 2008 - FHLBank Topeka (FHLBank) filed its Form 10-Q with the Securities and Exchange Commission (SEC) today.

President’s Comments
“FHLBank Topeka continues to post strong financials even during the uncertainty of late in the credit markets and in the recent volatility of the equity market,” says Andrew Jetter, president and CEO of FHLBank Topeka. "So far in 2008, we have experienced strong advance growth and higher net income. Due to our conservative management practices, we do not own any subprime loans in our investment or MPF portfolios, and we have never had a loss on an advance. We are pleased that we can continue to meet our members' need for additional liquidity."

Asset and Advance Growth
FHLBank Topeka total assets were $60.9 billion at June 30, 2008, compared to $55.3 billion at December 31, 2007. Total advances increased 17 percent from $32.1 billion at December 31, 2007, to $37.5 billion as of June 30, 2008.

Net Income and Dividends
FHLBank’s net income as reported in accordance with generally accepted accounting principles (GAAP) for the three-month period ending June 30, 2008, was $47.0 million compared to $34.3 million for the three-month period ending June 30, 2007. Net income for the six-month period ending June 30, 2008, was $70.6 million compared to $67.1 million for the six-month period ending June 30, 2007. Dividend rates paid for the end of second quarter 2008 were 1.75 percent and 4.75 percent per annum for Class A Common Stock and Class B Common Stock, respectively.

FHLBank Topeka’s Form 10-Q, with complete June 30, 2008, financial statements and management’s discussion and analysis of FHLBank’s financial condition and results of operation, is available on the SEC’s Web site (www.sec.gov) and is linked at the right.

The FHLBanks Office of Finance also announced the publication of the Q2 2008 Combined Financial Report (CFR). The complete CFR file can be accessed by clicking the link at the right. 

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements describing the objectives, projections, estimates or future predictions of the FHLBank's operations. These statements may be identified by the use of forward-looking terminology such as anticipates, believes, could, estimate, may, should and will, or other variations on these terms. The FHLBank's actual results may differ materially from those expressed in any forward-looking statements as a result of many factors and uncertainties including, but not limited to: the effects of SFAS 133 accounting treatment and other accounting rule requirements, changes in the regulatory requirements of the Federal Housing Finance Agency, the FHLBank's ability to pay dividends out of retained earnings, changes in interest rates, changes in projected business volumes, the FHLBank's cost of funding, changes in the FHLBank's membership profile, the withdrawal of one or more large members, shifts in demand for FHLBank products, and general economic conditions.