Federal Home Loan Bank of Dallas Reports First Quarter 2019 Operating Results

DALLAS–(BUSINESS WIRE)–The Federal Home Loan Bank of Dallas (Bank) today reported net income of
$58.4 million for the quarter ended March 31, 2019. In comparison, for
the quarters ended December 31, 2018 and March 31, 2018, the Bank
reported net income of $58.1 million and $41.7 million, respectively.

Total assets at March 31, 2019 were $69.0 billion, compared with $72.8
billion at December 31, 2018. The $3.8 billion decrease in total assets
for the first quarter was attributable primarily to a decrease in the
Bank’s advances ($4.7 billion), offset by increases in the Bank’s
mortgage loans held for portfolio ($0.4 billion), long-term investments
($0.2 billion) and short-term liquidity portfolio ($0.2 billion).

Advances totaled $36.1 billion at March 31, 2019, compared with $40.8
billion at December 31, 2018. The Bank’s mortgage loans held for
portfolio totaled $2.6 billion at March 31, 2019, as compared to $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 $1.4 billion and $1.5 billion at
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 $16.1 billion at March 31, 2019, as compared to $15.8 billion at
December 31, 2018. At 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 with short remaining terms to maturity, totaled
$12.4 billion at March 31, 2019, compared to $12.2 billion at
December 31, 2018.

The Bank’s retained earnings increased to $1.121 billion at March 31,
2019 from $1.081 billion at December 31, 2018. On March 27, 2019, a
dividend of $19.1 million was paid to the Bank’s shareholders.

Additional selected financial data as of and for the quarter ended
March 31, 2019 (and, for comparative purposes, as of December 31, 2018,
and for the quarters ended December 31, 2018 and March 31, 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
March 31, 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.

Contacts

Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214)
441-8445