June 22, 2017 10:33 PM ET

Thrifts and Mortgage Finance

Company Overview of Federal Home Loan Bank of Pittsburgh

Company Overview

Federal Home Loan Bank of Pittsburgh operates as a cooperative bank that provides credit for housing and community development in Pennsylvania. It primarily offers advances against the security of residential mortgages and other types of collaterals, as well as purchases residential mortgage loans originated by or through eligible member institutions. The company also provides deposit products and services comprising demand, overnight, and term deposits; and other types of credit and noncredit products and services, including letters of credit, interest rate exchange agreements, affordable housing grants, and securities safekeeping services to member institutions. In addition, it participate...

601 Grant Street

Pittsburgh, PA 15219

United States

212 Employees

Phone:

412-288-3400

Key Executives for Federal Home Loan Bank of Pittsburgh

Chief Executive Officer and President
Age: 61
Chief Financial Officer and Head of Capital Markets Department
Age: 51
Chief Operating Officer
Age: 51
Managing Director, General Counsel and Corporate Secretary
Age: 56
Chief Risk Officer
Age: 54
Compensation as of Fiscal Year 2016.

Federal Home Loan Bank of Pittsburgh Key Developments

Federal Home Loan Bank of Pittsburgh Announces Unaudited Financial Results for the First Quarter Ended Mar. 31, 2017

Federal Home Loan Bank of Pittsburgh announced unaudited financial results for the first quarter ended Mar. 31, 2017. The bank reported net income of $86.8 million for the first quarter of 2017, compared to $56.5 million for the first quarter of 2016. This $30.3 million increase was driven by higher net interest income and higher noninterest income, partially offset by higher other expense. Net interest income was $108.3 million for the first quarter of 2017, up $26.9 million compared to $81.4 million in the first quarter of 2016. Higher net interest income was primarily due to higher interest income on advances and investment securities. Total retained earnings at March 31, 2017, were $1.0 billion, up $45.2 million from $986.2 million at December 31, 2016. Total retained earnings at March 31, 2017 included $231.9 million of restricted retained earnings compared with $214.5 million of restricted retained earnings at December 31, 2016. Total interest income was $309.3 million against $224.8 million for the same period of last year.

Federal Home Loan Bank of Pittsburgh Announces First Quarter Dividend , Payable on April 28, 2017

Federal Home Loan Bank of Pittsburgh announced that based on first quarter performance, the Board of Directors declared quarterly dividends of 5.0% annualized on subclass B2 (activity) stock and 2.0% annualized on subclass B1 (membership) stock. These dividends will be calculated on average capital stock held during the period January 1, 2017 to March 31, 2017, and will be credited to demand deposit account (DDA), April 28, 2017.

Federal Home Loan Bank of Pittsburgh, Q1 2017 Earnings Call, May 02, 2017

Federal Home Loan Bank of Pittsburgh, Q1 2017 Earnings Call, May 02, 2017

Similar Private Companies By Industry

Company Name Region
120dB Films, Inc. United States
1st 2nd Mortgage Co.of N.J., Inc. United States
1st Georgia Home Mortgage, LLC United States
1st Integrity Mortgage, Inc. United States
1st Palm Financial Services, LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Federal Home Loan Bank of Pittsburgh, please visit www.fhlb-pgh.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.