The Federal Home Loan Bank of Pittsburgh announced unaudited financial results for the third quarter and nine months ended September 30, 2026. The Bank reported net income of $134.7 million for the third quarter of 2026, a significant increase compared to the $97.1 million reported in the same period of the prior year. For the nine months ended September 30, 2026, net income totaled $326.4 million, which was relatively flat compared to $328.9 million in the prior year.
Key drivers of the third-quarter increase included a rise in net interest income to $163.2 million, up from $145.0 million in the prior year. This growth was attributed to higher average assets, though it was partially offset by lower average short-term interest rates. Additionally, noninterest income increased to $24.7 million from $3.8 million, driven by valuation changes in the Bank’s economic derivative portfolio.
As of September 30, 2026, total assets stood at $126.0 billion, compared to $73.3 billion at the end of 2025. This growth was primarily due to advances, which totaled $87.0 billion, compared to $36.8 billion at year-end 2025. Total capital was reported at $6.7 billion, including retained earnings of $2.4 billion, and the Bank remains in compliance with all regulatory capital requirements.
The Board of Directors declared dividends on membership stock and activity stock for the third quarter. The dividend on subclass B1 (membership) stock was set at an annualized yield of 5.75%, while the dividend on subclass B2 (activity) stock was set at an annualized yield of 9.75%. These dividends will be calculated on stockholders' average balances during the period from July 1, 2026, to September 30, 2026, and will be credited to accounts on October 23, 2026.
Regarding community products, the Bank reported a statutory Affordable Housing Program (AHP) assessment of $15.0 million for the third quarter. The Bank also made voluntary contributions of $7.5 million, including a supplemental contribution of $0.8 million to AHP.
