TOPEKA, Kan., July 29 -- The Federal Home Loan Bank of Topeka, a district bank in the Federal Home Loan Bank System, issued the following news:
FHLBank Topeka (FHLBank) announces its second quarter 2014 operating results. FHLBank is reporting net income computed in accordance with U.S. generally accepted accounting principles (GAAP) of $28.6 million for the quarter ended June 30, 2014, compared to net income of $28.8 million for the quarter ended June 30, 2013. For the six months ended June 30, 2014 and 2013, FHLBank is reporting net income of $50.8 million and $53.5 million, respectively. FHLBank expects to file its Form 10-Q for the quarter ended June 30, 2014, with the Securities and Exchange Commission (SEC) on or about Aug. 8, 2014.
"FHLBank Topeka is pleased to report outstanding earnings for the second quarter," said Andy Jetter, president and CEO. "With the completion of our capital management changes, our steady growth in retained earnings and our long record of excellent earnings performance, we were able to increase the dividend on Class B stock for the second quarter to 5 percent per annum as well as announce our expectation of a 6 percent per annum Class B stock dividend for the third quarter. We are excited that our members are able to directly benefit from the FHLBank's superior financial performance through the dividend on their Class B stock."
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