• July 29, 2019

DALLAS, TEXAS, July 29, 2019 - The Federal Home Loan Bank of Dallas (Bank) today reported net income of $54.1 million for the quarter ended June 30, 2019. In comparison, for the quarters ended March 31, 2019 and June 30, 2018, the Bank reported net income of $58.4 million and $48.8 million, respectively. For the six months ended June 30, 2019, the Bank reported net income of $112.5 million, as compared to $90.6 million for the six months ended June 30, 2018.

Total assets at June 30, 2019 were $74.5 billion, compared with $69.0 billion at March 31, 2019 and $72.8 billion at December 31, 2018. The $5.5 billion increase in total assets for the second quarter was attributable primarily to increases in the Bank's advances ($2.7 billion), short-term liquidity portfolio ($2.0 billion), mortgage loans held for portfolio ($0.4 billion) and long-term investments ($0.4 billion). The $1.7 billion increase in total assets for the six months ended June 30, 2019 was attributable primarily to increases in the Bank's short-term liquidity portfolio ($2.2 billion), mortgage loans held for portfolio ($0.8 billion) and long-term investments ($0.6 billion), offset by a decrease in the Bank's advances ($2.0 billion).

Advances totaled $38.8 billion at June 30, 2019, compared with $36.1 billion at March 31, 2019 and $40.8 billion at December 31, 2018. The Bank's mortgage loans held for portfolio totaled $3.0 billion at June 30, 2019, as compared to $2.6 billion at March 31, 2019 and $2.2 billion at December 31, 2018.

The Bank's long-term held-to-maturity securities portfolio, which is comprised substantially of U.S. agency residential mortgage-backed securities (MBS), totaled approximately $1.2 billion, $1.4 billion and $1.5 billion at June 30, 2019, March 31, 2019 and December 31, 2018, respectively. The Bank's long-term available-for-sale securities portfolio, which is comprised substantially of U.S. agency debentures and U.S. agency commercial MBS, totaled $16.7 billion at June 30, 2019, as compared to $16.1 billion at March 31, 2019 and $15.8 billion at December 31, 2018. At June 30, 2019, March 31, 2019 and December 31, 2018, the Bank also held a $0.1 billion long-term U.S. Treasury Note classified as trading.

The Bank's short-term liquidity portfolio, which is comprised substantially of overnight interest-bearing deposits, overnight federal funds sold, overnight reverse repurchase agreements, U.S. Treasury Bills and U.S. Treasury Notes, totaled $14.4 billion at June 30, 2019, compared to $12.4 billion at March 31, 2019 and $12.2 billion at December 31, 2018.

The Bank's retained earnings increased to $1.155 billion at June 30, 2019 from $1.121 billion at March 31, 2019 and $1.081 billion at December 31, 2018. On June 26, 2019, a dividend of $19.3 million was paid to the Bank's shareholders.

Additional selected financial data as of and for the quarter and six months ended June 30, 2019 (and, for comparative purposes, as of March 31, 2019 and December 31, 2018, and for the quarters ended March 31, 2019 and June 30, 2018 and the six months ended June 30, 2018) is set forth below. Further discussion and analysis regarding the Bank's results will be included in its Form 10-Q for the quarter ended June 30, 2019 to be filed with the Securities and Exchange Commission.

About the 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 created by Congress in 1932. The Bank is a member-owned cooperative that supports housing and community development by providing competitively priced loans (known as advances) and other credit products to approximately 820 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank's website at fhlb.com.

Contact Information:

Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
214.441.8445