The ""Federal Home Loan Bank of Atlanta,"":http://corp.fhlbatl.com/ a federal bank aimed at providing affordable residential mortgages, recorded increasing income and an increasing annualized return on equity in the second quarter of 2012, according to information the bank ""released"":http://corp.fhlbatl.com/NewsArticle.aspx?id=2816 to the public Monday.[IMAGE]
The bank released highlights from the second quarter in an unaudited release and will file a full report with the Securities and Exchange Commission by August 9.
The Federal Home Loan Bank of Atlanta reported a net income of $60 million for the quarter, up $22 million from the same quarter last year.[COLUMN_BREAK]
The bank's annualized return on equity in the second quarter was calculated at 3.76 percent, up from 2.01 in the second quarter of 2011.
The spread to average three-month LIBOR increased over the quarter to 329 basis points, up from 175 basis points a year ago.
The bank's assets have decreased $5.8 billion over the first half of this year. The 4.65 percent decline brought the assets to a total of $119.4 billion at the end of the second quarter of this year.
Capital stock decreased over the same period, falling from $5.7 billion at the end of 2011 to $5 billion at the end of the second quarter of 2012.
The bank's retained earnings balance increased 7.2 percent over the first half of the year, arriving at $1.3 billion at the end of June.
As of the end of June, the Federal Home Loan Bank of Atlanta held $1.42 billion in mortgage loans in its portfolio. This is down from $1.63 billion recorded at the end of 2011.
One of 12 similar banks, the Federal Home Loan Bank of Atlanta serves commercial banks, credit unions, savings institutions, and community development institutions in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.