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October 26, 2022 FHLBank Topeka Announces 2022 Third Quarter Operating Results

 

FHLBank Topeka (FHLBank) is reporting net income of $66.9 million computed in accordance with U.S. generally accepted accounting principles (GAAP) for the quarter ended September  30, 2022 compared to $37.4 million for the quarter ended September  30, 2021. For the nine months ended September  30, 2022, FHLBank is reporting net income of $167.7 million compared to $114.3  million for the same period in the prior year. The $29.5 million and $53.4 million increases in net income for the three- and nine-month periods, respectively, were primarily a result of increases in net interest income and fluctuations in fair value of derivatives and trading securities, partially offset by increases in other expenses.

 

Net interest income increased $21.5 million for the quarter, from $73.3 million for the quarter ended September 30, 2021, to $94.8 million for the quarter ended September 30, 2022. Net interest income increased $49.2 million for the current year-to-date period, from $213.9 million for the nine months ended September 30, 2021, to $263.1 million for the nine months ended September 30, 2022. The increase for both the quarterly and year-to-date periods was due primarily to an increase in the average yield and balance of advances, partially offset by an increase in the cost of debt.

 

FHLBank expects to file its Form 10-Q for the quarter ended September  30, 2022, with the Securities and Exchange Commission (SEC) on or about November  10, 2022.

 

Click here to view entire operating results announcement.

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