PrintFederal Home Loan Bank of Dallas Reports First Quarter 2026 Operating Results
BY Business Wire | AGENCY | 12:48 PM EDTDALLAS--(BUSINESS WIRE)-- The Federal Home Loan Bank of Dallas (Bank) today reported net income of $121.9 million for the quarter ended March 31, 2026. In comparison, for the quarters ended December 31, 2025 and March 31, 2025, the Bank reported net income of $126.2 million and $150.6 million, respectively.
Total assets at March 31, 2026 were $97.1 billion, compared with $108.5 billion at December 31, 2025. Average total assets decreased from $113.3 billion for the quarter ended March 31, 2025 to $105.1 billion for the corresponding period in 2026. The $11.4 billion decrease in total assets during the first quarter of 2026 was attributable to decreases in the Bank's advances ($6.6 billion), short-term liquidity holdings ($4.5 billion) and long-term investments ($0.4 billion), partially offset by an increase in the Bank's mortgage loans held for portfolio ($0.1 billion).
Advances totaled $44.2 billion at March 31, 2026, compared with $50.8 billion at December 31, 2025. The Bank's mortgage loans held for portfolio totaled $6.7 billion at March 31, 2026, as compared to $6.6 billion at December 31, 2025.
The carrying value of the Bank's long-term held-to-maturity securities portfolio, which is comprised of U.S. agency residential mortgage-backed securities (MBS), totaled $1.0 billion at both March 31, 2026 and December 31, 2025. The carrying value of the Bank's long-term available-for-sale securities portfolio, which is comprised of U.S. agency debentures and U.S. agency commercial MBS, totaled $18.9 billion at March 31, 2026, as compared to $19.3 billion at December 31, 2025.
The Bank's short-term liquidity holdings are typically comprised of overnight interest-bearing deposits, overnight federal funds sold, overnight reverse repurchase agreements, U.S. Treasury Bills, U.S. Treasury Notes and, from time to time, may also include cash held at the Federal Reserve. At March 31, 2026 and December 31, 2025, the Bank's short-term liquidity holdings totaled $25.8 billion and $30.3 billion, respectively.
The Bank's retained earnings increased to $3.307 billion at March 31, 2026 from $3.227 billion at December 31, 2025. On March 24, 2026, a dividend of $41.8 million was paid to the Bank's shareholders.
Additional selected financial data as of and for the quarter ended March 31, 2026 (and, for comparative purposes, as of December 31, 2025, and for the quarters ended December 31, 2025 and March 31, 2025) is set forth below. Further discussion and analysis regarding the Bank's results will be included in its Form 10-Q for the quarter ended March 31, 2026 to be filed with the Securities and Exchange Commission.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System, which was created by Congress in 1932. The Bank is a member-owned cooperative that supports housing and community development by providing competitively priced funding solutions, liquidity, and other credit products to approximately 780 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank's website at fhlb.com.
Federal Home Loan Bank of Dallas |
Selected Financial Data |
As of and For the Quarter Ended March 31, 2026 |
(Unaudited, in thousands) |
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March 31, 2026 |
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December 31, 2025 |
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Selected Statement of Condition Data: |
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Assets |
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Investments (1) |
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$ |
45,709,491 |
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$ |
50,656,003 |
Advances |
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? |
44,215,047 |
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? |
50,820,106 |
Mortgage loans held for portfolio, net |
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? |
6,725,287 |
? |
? |
6,555,131 |
Cash and other assets |
? |
? |
422,239 |
? |
? |
480,775 |
Total assets |
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$ |
97,072,064 |
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$ |
108,512,015 |
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? |
? |
? |
? |
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Liabilities |
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? |
? |
? |
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Consolidated obligations |
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? |
? |
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Discount notes |
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$ |
27,317,808 |
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$ |
40,185,289 |
Bonds |
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? |
60,190,861 |
? |
? |
57,885,556 |
Total consolidated obligations |
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87,508,669 |
? |
? |
98,070,845 |
Mandatorily redeemable capital stock |
? |
? |
101,662 |
? |
? |
7,967 |
Other liabilities |
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3,196,325 |
? |
? |
3,663,332 |
Total liabilities |
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90,806,656 |
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? |
101,742,144 |
Capital |
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? |
? |
? |
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Capital stock ? putable |
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2,752,740 |
? |
? |
3,338,359 |
Retained earnings |
? |
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3,307,256 |
? |
? |
3,227,044 |
Total accumulated other comprehensive income |
? |
? |
205,412 |
? |
? |
204,468 |
Total capital |
? |
? |
6,265,408 |
? |
? |
6,769,871 |
Total liabilities and capital |
? |
$ |
97,072,064 |
? |
$ |
108,512,015 |
? |
? |
? |
? |
? |
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Total regulatory capital (2) |
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$ |
6,161,658 |
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$ |
6,573,370 |
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? |
For the |
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For the |
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For the |
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Quarter Ended |
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Quarter Ended |
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Quarter Ended |
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March 31, 2026 |
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December 31, 2025 |
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March 31, 2025 |
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Selected Statement of Income Data: |
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Net interest income (3) |
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$ |
171,063 |
? |
$ |
176,767 |
? |
$ |
187,700 |
Other income |
? |
? |
1,769 |
? |
? |
16,007 |
? |
? |
14,703 |
Other expense |
? |
? |
? |
? |
? |
? |
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Operating expense |
? |
? |
29,844 |
? |
? |
28,194 |
? |
? |
28,031 |
Voluntary grants, subsidies, donations and AHP contributions |
? |
? |
3,693 |
? |
? |
19,861 |
? |
? |
2,134 |
Other |
? |
? |
3,735 |
? |
? |
4,470 |
? |
? |
4,864 |
AHP assessment |
? |
? |
13,683 |
? |
? |
14,033 |
? |
? |
16,750 |
Net income |
? |
$ |
121,877 |
? |
$ |
126,216 |
? |
$ |
150,624 |
| (1) | Investments consist of interest-bearing deposits, securities purchased under agreements to resell, federal funds sold, trading securities, available-for-sale securities and held-to-maturity securities. |
(2) |
As of March 31, 2026 and December 31, 2025, total regulatory capital represented 6.35 percent and 6.06 percent, respectively, of total assets as of those dates. |
(3) |
Net interest income is net of the provision for credit losses. |
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Source: Federal Home Loan Bank of Dallas
