February 24, 2018 10:52 AM ET

Thrifts and Mortgage Finance

Company Overview of Federal Home Loan Bank of Boston

Company Overview

Federal Home Loan Bank of Boston develops and delivers financial products and services that support housing finance, community development, and economic growth. The company offers various advances, including overnight advances, short-term fixed-rate advances, fixed-rate putable advances, fixed-rate bullet advances, and variable-rate advances to provide funding alternatives to members in interest-rate environments and situations. It also provides various solutions, such as affordable housing programs, equity builder programs, community development advances, the New England fund, jobs for New England, and helping to house New England for affordable housing or economic development needs of comm...

Prudential Tower

9th Floor

800 Boylston Street

Boston, MA 02199

United States

Founded in 1932

Phone:

617-292-9600

Key Executives for Federal Home Loan Bank of Boston

President & CEO
Age: 58
Executive VP & CFO
Age: 55
Senior VP, General Counsel & Corporate Secretary
Age: 58
Executive VP & Chief Business Officer
Age: 62
Executive VP & Chief Risk Officer
Age: 57
Compensation as of Fiscal Year 2017.

Federal Home Loan Bank of Boston Key Developments

Federal Home Loan Bank of Boston Announces Unaudited Financial Results for the Third Quarter and Nine Months Ended September 30, 2017

Federal Home Loan Bank of Boston announced unaudited financial results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported net interest income of $71,109,000 against $64,779,000 for the same period a year ago. Net income was $45,595,000 against $36,558,000 for the same period a year ago. Return on average assets was 0.31% against 0.25% for the same period a year ago. Return on average equity was 5.64% against 4.55% for the same period a year ago. For the nine months, the company reported net interest income of $197,433,000 against $175,462,000 for the same period a year ago. Net income was $122,375,000 against $113,544,000 for the same period a year ago. Return on average assets was 0.28% against 0.26% for the same period a year ago. Return on average equity was 4.98% against 4.84% for the same period a year ago.

Federal Home Loan Bank of Boston Declares Dividend for the Third Quarter of 2017, Payable on November 2, 2017

Federal Home Loan Bank of Boston's board of directors also declared a dividend equal to an annual yield of 4.33%, the approximate daily average three-month LIBOR yield for the third quarter of 2017 plus 300 basis points. The dividend, based on average stock outstanding for the third quarter of 2017, will be paid on November 2, 2017.

Federal Home Loan Bank of Boston Announces Board Appointments

On October 27, 2017, the Federal Home Loan Bank of Boston’s board of directors declared certain individuals elected, or deemed elected, in the Bank’s 2017 election of directors, each with a term to begin January 1, 2018 and end December 31, 2021. The Board declared the following individuals elected as member directors Donna l. Boulanger, President And Chief Executive Officer of North Brookfield Savings Bank, North Brookfield, Massachusetts, an incumbent director currently serving as vice chair of the board’s governance/government relations committee and as a member of its finance and housing and community development committees. Ms. Boulanger was re-elected to fill a member directorship designated for the Commonwealth of Massachusetts; John W. McGeorge, Chairman of The board of Needham Bank, Needham, Massachusetts, an incumbent director currently chairing the board’s human resources and compensation committee and serving on its executive and governance/government relations committees. Mr. McGeorge was re-elected to fill a member directorship designated for the Commonwealth Of Massachusetts; and Martin J. Geitz, President And Chief Executive Officer Of The Simsbury Bank & Trust Company, Simsbury, Connecticut, an incumbent director currently chairing the board’s risk committee and serving on its executive, governance/government relations and human resources and compensation committees. Mr. Geitz was re-elected to fill a member directorship designated for the state of Connecticut. Since Ms. Boulanger and Mr. McGeorge were the only nominees for the Massachusetts member directorships and Mr. Geitz was the only nominee for the Connecticut member directorship, the Bank issued a Current Report on Form 8-K on September 8, 2017 (after the nomination period closed), announcing that Ms. Boulanger, Mr. McGeorge and Mr. Geitz had been ‘deemed’ elected, as provided in the Applicable Regulations.

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