|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
|
Washington, D.C. 20549 |
|
|
|
FORM 8-K |
|
|
|
CURRENT REPORT |
|
Pursuant to Section 13 or 15(d) of |
|
The Securities Exchange Act of 1934 |
|
Date of Report (Date of earliest event reported) : October 25, 2012 |
|
FEDERAL HOME LOAN BANK OF ATLANTA |
|
(Exact name of registrant as specified in its charter) |
|
Federally chartered corporation |
000-51845 |
56-6000442 |
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
|
1475 Peachtree Street, NE |
||
|
Atlanta, GA 30309 |
||
|
(Address of principal executive offices) |
||
|
(404) 888-8000 |
||
|
(Registrant's telephone number, including area code) |
||
|
Not Applicable |
|
(Former name or former address, if changed since last report.) |
|
|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|
|
|
|
|
[] |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
|
|
[] |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
|
|
[] |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
|
|
[] |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. Results of Operations and Financial Condition.
On October 30, 2012, the Federal Home Loan Bank of Atlanta (the "Bank") issued a press release reporting certain unaudited financial results for the quarter ended September 30, 2012. Attached as Exhibit 99.1 to this Current Report on Form 8-K is a copy of the press release.
The information being furnished pursuant to Item 2.02 of this Current Report on Form 8-K and the information contained in Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 7.01 Regulation FD Disclosure.
On October 30, 2012, the Bank announced that it will repurchase all outstanding subclass B1 membership excess capital stock and B2 activity-based excess capital stock on November 19, 2012. Beginning November 20, 2012, the Bank will repurchase excess activity-based capital stock on a daily basis, subject to an excess stock threshold of $100,000 and all other conditions provided in the Bank's Capital Plan. Attached as Exhibit 99.2 to this Current Report on Form 8-K is a copy of the form notice.
Item 8.01. Other Events.
On October 25, 2012, the board of directors of the Bank declared an annualized dividend rate for the third quarter of 2012 equal to 2.43 percent. Attached as Exhibit 99.3 to this Current Report on Form 8-K is a copy of the related press release.
Item 9.01. Exhibits.
|
99.1 |
Press Release, dated October 30, 2012, regarding unaudited financial results |
|
99.2 |
Form of Notice to Current Shareholders, dated October 30, 2012 |
|
99.3 |
Press Release, dated October 30, 2012, regarding third quarter dividend and excess stock repurchase |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Federal Home Loan Bank of Atlanta |
||
|
Date: October 30, 2012 |
By: _/s/ Kirk R. Malmberg ________ |
|
|
Kirk R. Malmberg |
||
|
Executive Vice President, |
||
|
Chief Financial Officer |
||
[FHLBank Atlanta logo]
Shareholder Notice No. 2012-05
Subject: Repurchase of Subclass B1 Membership Excess Capital Stock and Subclass B2 Activity-based Excess Capital Stock and Transition to Daily Subclass B2 Activity-based Excess Capital Stock Repurchases
Dated: October 30, 2012
FHLBank Atlanta will repurchase all Subclass B1 Membership excess capital stock and Subclass B2 Activity-based excess capital stock on November 19, 2012 (the Repurchase Date).
Shareholders with excess stock on the Repurchase Date may not opt out of the repurchase.
The Bank will credit the proceeds from the repurchase of any excess stock to each shareholder's daily investment account at the close of business on November 19, 2012. Funds will be available on the next business day. The repurchase of excess capital stock is subject to the Bank continuing to meet all applicable statutory and regulatory conditions for an excess stock repurchase and all other conditions provided in the Bank's Capital Plan.
Beginning November 20, 2012, FHLBank Atlanta will repurchase Subclass B2 Activity-based excess capital stock on a daily basis. Repurchases will be subject to a minimum excess stock threshold of $100,000 and other provisions set forth in the Bank's Capital Plan.
For questions about the excess stock repurchase, please call the Funding Desk at 800.536.9650, extension 8011.
|
[FHLBank Atlanta logo] |
|
News Release October 30, 2012 |
|
FOR IMMEDIATE RELEASE CONTACT: Sharon Cook Federal Home Loan Bank of Atlanta scook@fhlbatl.com (404) 888-8173 |
Federal Home Loan Bank of Atlanta Announces Third Quarter 2012 Operating Highlights
ATLANTA, October 30, 2012 - Federal Home Loan Bank of Atlanta (the Bank) today released unaudited financial highlights for the quarter ended September 30, 2012. The Bank will announce full unaudited financial results in its Form 10-Q filing with the Securities and Exchange Commission, which is expected to be filed on or about November 8, 2012.
The Bank reported net income of approximately $76 million for the third quarter 2012, an increase of approximately $44 million from net income of approximately $32 million for third quarter 2011. As of September 30, 2012, the Bank had total assets of approximately $112.1 billion, a decrease of $13.2 billion, or 10.5 percent, from December 31, 2011.
The Bank’s retained earnings balance was approximately $1.4 billion as of September 30, 2012, an increase of approximately $147 million, or 11.7 percent, from December 31, 2011. Capital stock decreased from approximately $5.7 billion at December 31, 2011, to approximately $4.8 billion at September 30, 2012.
The Bank’s third quarter 2012 performance resulted in an annualized return on equity (ROE) of 5.04 percent as compared to 1.78 percent for third quarter 2011. The ROE spread to average three-month LIBOR increased to 461 basis points for the third quarter 2012 compared to 148 basis points for the third quarter 2011.
| Federal Home Loan Bank of Atlanta | ||||||||
| Financial Highlights | ||||||||
| (Unaudited) | ||||||||
| (Dollars in millions) | ||||||||
| Statements of Condition | As of September 30, 2012 | As of December 31, 2011 | ||||||
|
|
|
|||||||
| Investments | $ | 29,718 | $ | 36,138 | ||||
| Advances | 80,543 | 86,971 | ||||||
| Mortgage loans held for portfolio, net | 1,335 | 1,633 | ||||||
| Total assets | 112,078 | 125,270 | ||||||
| Consolidated obligations, net | 103,201 | 114,992 | ||||||
| Total capital stock | 4,791 | 5,718 | ||||||
| Retained earnings | 1,401 | 1,254 | ||||||
| Accumulated other comprehensive loss | (97) | (411) | ||||||
| Total capital | 6,095 | 6,561 | ||||||
| Capital-to-assets ratio (GAAP) | 5.44% | 5.24% | ||||||
| Capital-to-assets ratio (Regulatory) | 5.56% | 5.79% | ||||||
--MORE--
| Three Months Ended September 30, | ||||||||||
|
|
|
|||||||||
| Operating Results and Performance Ratios | 2012 | 2011 | ||||||||
|
|
|
|
|
|
||||||
| Net interest income | $ | 91 | $ | 109 | ||||||
| Provision for credit losses | 1 | — | ||||||||
| Net impairment losses recognized in earnings | (1) | (19) | ||||||||
| Letters of credit fees | 5 | 6 | ||||||||
| Other income (loss) | 20 | (31) | ||||||||
| Total noninterest expense | 30 | 29 | ||||||||
| Total assessments | 8 | 4 | ||||||||
| Net income | 76 | 32 | ||||||||
| Return on average assets | 0.26% | 0.10% | ||||||||
| Return on average equity | 5.04% | 1.78% | ||||||||
Additional financial information concerning the Bank’s results of operations for the most recently completed quarter will be available in the Bank’s Form 10-Q scheduled to be filed on or about November 8, 2012, with the Securities and Exchange Commission and will be available at www.fhlbatl.com or www.sec.gov.
|
* * * * |
About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members—its shareholders and customers—are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System, which since 1990 has contributed more than $4.6 billion to the Affordable Housing Program.
|
For more information visit our website at www.fhlbatl.com. |
Some of the statements made in this announcement are “forward-looking statements,” which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance or achievements to be materially different from the future results, performance, or achievements expressed or implied by the forward-looking statements.
The forward-looking statements may not be realized due to a variety of factors, including without limitation legislative and regulatory actions, changes or approvals; future economic and market conditions (including the housing market and the market for mortgage-backed securities); changes in demand for advances or consolidated obligations of the Bank and/or the FHLBank System; changes in interest rates and prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; political, national and world events; and adverse developments or events affecting or involving other Federal Home Loan Banks or the FHLBank System in general. Additional factors that might cause the Bank’s results to differ from these forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.
New factors may emerge from time to time, and it is not possible for us to predict the nature, or assess the potential impact, of each new factor on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements. These statements speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise or correct any of the forward-looking statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events or otherwise, except as may be required by law.
|
--END-- |
[FHLBank Atlanta logo]
News Release
October 30, 2012
FOR IMMEDIATE RELEASE
CONTACT: Sharon Cook
Federal Home Loan Bank of Atlanta
scook@fhlbatl.com
(404) 888-8173
Federal Home Loan Bank of Atlanta Declares a Third Quarter 2012 Dividend of 2.43%,
Announces Excess Stock Repurchase
ATLANTA, October 30, 2012 -
The Board of Directors of the Federal Home Loan Bank of Atlanta (the Bank) has approved an annualized dividend rate for the third quarter of 2012 of 2.43 percent."Our continued focus on member success and consistent financial performance resulted in a strong third quarter," said FHLBank Atlanta Chairman of the Board of Directors, Scott C. Harvard. "We are also pleased to announce the move to daily excess stock repurchase."
The dividend rate is equal to average three-month LIBOR plus 2 percent for the period of July 1, 2012, to September 30, 2012. The dividend payout is applicable to capital stock held during that period. The dividend will be credited to shareholders' daily investment accounts at the close of business on November 6, 2012.
The Bank also announced that it will repurchase all membership excess capital stock and activity-based excess capital stock on November 19, 2012 (the Repurchase Date). Shareholders will be notified regarding the details of this repurchase. Beginning November 20, 2012, the Bank will repurchase activity-based excess capital stock on a daily basis. The operational threshold for daily excess stock repurchases will be $100,000.
The Bank today also released unaudited financial highlights for the quarter ended September 30, 2012. The Bank will announce full unaudited financial results in its Form 10-Q filing with the Securities and Exchange Commission, which is expected to be filed on or about November 8, 2012.
If you have questions, please contact FHLBank Atlanta's Funding Desk at 1.800.536.9650, ext. 8011.
About FHLBank Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members-its shareholders and customers-are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 12 district banks in the Federal Home Loan Bank System which since 1990 has contributed more than $4.6 billion to the Affordable Housing Program.
* * * *
-- END --