Federal Home Loan Bank net income rises 1.7 percent
The Federal Home Loan Bank of Pittsburgh said net income rose 1.7 percent to $53 million, or $1.31 a share, for the second quarter.
Results enabled the wholesale lender to set aside $5.9 million for affordable housing programs in 2009, vs. $5.8 million this year.
Total assets stood at $98.6 billion as of June 30.
The Pittsburgh bank is one of the nation’s 13 home loan banks, with 333 member institutions in Pennsylvania, Delaware and West Virginia.
