Articles from FHLBank Pittsburgh

Ten Eastern Pennsylvania teams graduated from the initial phase of Blueprint Communities®, a program of the Federal Home Loan Bank of Pittsburgh (FHLBank). This week’s graduation is a major milestone marking the completion of intensive planning and leadership development training during the first 18 months of a 10-year initiative designed to activate local leaders, deploy a community-developed strategic plan, and revitalize communities.

As a result of severe flooding last month in Ohio and Marion Counties, West Virginia, the Federal Home Loan Bank of Pittsburgh (FHLBank) is providing financial support and in-kind donations to aid local communities.

U.S. Sen. Tom Carper (D-DE) was recognized for his support of housing and community development during a ceremony today announcing $3.52 million in 2024 Affordable Housing Program (AHP) grant and the voluntary housing grant initiative awards. These awards from the Federal Home Loan Bank of Pittsburgh (FHLBank) are through member financial institutions.

The Federal Home Loan Bank of Pittsburgh (FHLBank) will relocate our corporate headquarters to One Oxford Centre in Pittsburgh at close-of-business on Friday, Oct. 11, 2024. Our new address, effective Tuesday, Oct. 15, will be:

The Federal Home Loan Bank of Pittsburgh (FHLBank) today announced the election of Thomas A. Hendry, Senior Vice President and Treasurer of New York Life Insurance and Annuity Corporation (New York Life). and Nathaniel S. Bonnell, Chairman, President and CEO of Citizens Bank of West Virginia to the FHLBank Board of Directors (Board). They will serve out the Board terms of former Delaware and West Virginia member directors, Pamela C. Asbury and H. Charles Maddy, III, respectively. Mr. Hendry will step into an existing four-year term that began Jan. 1, 2024. Mr. Bonnell will step into an existing four-year term that began Jan. 1, 2023.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today that David G. Paulson, Chief Operating Officer (COO), will become President and Chief Executive Officer on Oct. 1, 2024. Winthrop Watson will become Executive Senior Advisor and his previously announced retirement date of Dec. 31, 2024, remains unchanged.

U.S. Rep. Mary Gay Scanlon (D-PA5) was the special guest speaker at a ceremony to announce an Affordable Housing Program (AHP) grant and the voluntary housing grant initiative totaling $1.5 million from the Federal Home Loan Bank of Pittsburgh (FHLBank) through their member financial institutions. FHLBank is a cooperative whose members are able to leverage on-demand liquidity and community products to support community partnerships that are fostering job growth, economic vitality and long-term stability in Chester and across the country.

Today, the Federal Home Loan Bank of Pittsburgh (FHLBank) announced the upcoming retirement of Winthrop Watson as President and Chief Executive Officer (CEO), effective Dec. 31, 2024. Watson has led FHLBank since 2011 after joining as Chief Operating Officer (COO) in 2009. Prior to FHLBank, he spent 25 years at J.P. Morgan.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced the 2024 winners of its Diversity, Equity and Inclusion Membership Award and the Pillars of the Community Awards. These awards are being presented to the recipients in person during the month of June.

Today, the Federal Home Loan Bank of Pittsburgh (FHLBank) was joined alongside U.S. Rep. Lisa Blunt Rochester (D-Del.) at a ceremony to announce two affordable housing grants totaling $1.5 million from FHLBank and their member financial institutions. FHLBank is a co-op whose members are able to leverage on demand liquidity and community products to support community partnerships that are fostering job growth, economic vitality and long-term stability in Harrington and across the country.

The Federal Home Loan Bank of Pittsburgh (FHLBank) is excited to announce that $114.2 million, a record annual amount, is available for our member financial institutions to use to support communities and people in need.

FHLBank Pittsburgh welcomes Brendan J. McGill as incoming FHLBank Pittsburgh Board Chair and is pleased to announce Louise Herrle was reelected as Board Vice Chair for another two-year term. Mr. McGill joined the Board of Directors in 2017 and Ms. Herrle joined in 2018.

The Board of Directors of FHLBank Pittsburgh (FHLBank) has approved $24.6 million in awarded grants under the Affordable Housing Program (AHP) and $8 million in awarded grants through a voluntary housing grant initiative. This additional voluntary pool of funding for 2023, which is separate and distinct from FHLBank’s required, statutory AHP, is provided to address the critical housing needs within FHLBank’s district. Combined, the grants will help finance 53 housing projects, creating more than 900 homes for very low-, low- and moderate-income individuals and families.

The Federal Home Loan Bank of Pittsburgh (FHLBank) today announced the results of its 2023 election. One new member director from Pennsylvania was elected, one incumbent member director was reelected in Delaware, and two independent directors were reelected. The elected and reelected directors will begin their four-year terms on Jan. 1, 2024.

Today, the creators of The Pittsburgh Juice Company hosted a ribbon-cutting ceremony to celebrate the opening of Vibrant Sunshine Juicery Cafe in Aspinwall. Today’s ceremony kicked off two weeks of grand opening special events and was attended by special guest U.S. Rep. Chris Deluzio (PA-17).

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced the 2023 winners of its Diversity, Equity and Inclusion Membership Award and the Pillars of the Community Awards. These awards will be conferred in person during the month of June.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the first quarter of 2023. FHLBank recorded net income of $123.2 million for the first quarter, and the Board of Directors declared dividends of 7.95% annualized on activity stock and 5.00% annualized on membership stock. Dividends are payable to stockholders on April 28, 2023.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the full year and fourth quarter ended Dec. 31, 2022. FHLBank recorded net income of $227.1 million for the year 2022 and $96.5 million for the fourth quarter, and the Board of Directors declared dividends of 7.95% annualized on activity stock and 4.0% annualized on membership stock. Dividends are payable to stockholders on Feb. 24, 2023.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the third quarter and nine months ended Sept. 30, 2022. FHLBank recorded net income of $74.4 million for the third quarter, and the Board of Directors declared dividends of 7.25% annualized on activity stock and 3.25% annualized on membership stock. Dividends are payable to stockholders on Oct. 28, 2022.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the second quarter and six months ended June 30, 2022. FHLBank recorded net income of $37.5 million for the second quarter, and the Board of Directors declared dividends of 6.25% annualized on activity stock and 2.25% annualized on membership stock. Dividends are payable to stockholders on July 29, 2022.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for first quarter of 2022. FHLBank recorded net income of $18.7 million for the first quarter, and the Board of Directors declared dividends of 5.25% annualized on activity stock and 1.25% annualized on membership stock. Dividends are payable to stockholders on April 29, 2022.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for full year and fourth quarter of 2021. FHLBank recorded net income of $86.0 million for the year 2021 and $13.6 million for the fourth quarter. The Board of Directors declared dividends of 5.25% annualized on activity stock and 1.25% annualized on membership stock. Dividends are payable to stockholders on Feb. 23, 2022.

FHLBank Pittsburgh welcomes William C. Marsh as incoming FHLBank Pittsburgh Board Chair and is pleased to announce Louise Herrle was reelected as Board Vice Chair for another 2-year term. Mr. Marsh joined the Board of Directors in 2012 and Ms. Herrle joined in 2018.

The Board of Directors of FHLBank Pittsburgh has approved $22.8 million in awarded grants under FHLBank’s Affordable Housing Program (AHP). The grants will help finance 35 housing projects, creating more than 600 homes for very low-, low- and moderate-income individuals and families, as well as those with special needs.

The Federal Home Loan Bank of Pittsburgh (FHLBank) today announced the results of its recent election. Two new member directors for Pennsylvania and one new public-interest independent director were elected. One incumbent independent director was also re-elected. All four will serve four-year terms beginning Jan. 1, 2022.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the third quarter of 2021. FHLBank recorded net income of $22.6 million, and the Board of Directors declared dividends of 5.25% annualized on activity stock and 1.25% annualized on membership stock. Dividends are payable to stockholders on Oct. 29, 2021.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the second quarter of 2021. FHLBank recorded net income of $11.7 million, and the Board of Directors declared dividends of 5.25% annualized on activity stock and 1.25% annualized on membership stock. Dividends are payable to stockholders on July 30, 2021.

The Federal Home Loan Bank of Pittsburgh (FHLBank) announced today unaudited financial results for the first quarter of 2021. FHLBank recorded net income of $38.1 million, and the Board of Directors declared dividends of 5.75 percent annualized on activity stock and 2.50 percent annualized on membership stock. Dividends are payable to stockholders on April 30, 2021.