Federal Home Loan Bank of Cincinnati

CIK:0001326771|SEC Filings

Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME:
Advances	$ 803,940	$ 1,008,433	$ 1,540,433	$ 1,939,444
Prepayment fees on Advances, net	989	53	2,755	172
Interest-bearing deposits	23,826	28,128	45,897	55,162
Securities purchased under agreements to resell	36,690	28,646	70,332	60,950
Federal funds sold	184,893	161,988	327,055	299,922
Investment securities:
Trading securities	29,596	28,996	58,143	57,910
Available-for-sale securities	124,254	122,360	239,617	235,471
Held-to-maturity securities	159,861	186,162	316,356	367,138
Total investment securities	313,711	337,518	614,116	660,519
Mortgage loans held for portfolio	90,270	65,379	175,831	128,976
Loans to other FHLBanks	300	192	300	222
Total interest income	1,454,619	1,630,337	2,776,719	3,145,367
Consolidated Obligations:
Discount Notes	346,823	216,776	646,933	446,614
Bonds	929,542	1,201,893	1,783,729	2,289,097
Total Consolidated Obligations	1,276,365	1,418,669	2,430,662	2,735,711
Deposits	8,193	9,919	16,512	19,413
Loans from other FHLBanks	0	0	0	126
Mandatorily redeemable capital stock	1,791	728	3,403	1,253
Other borrowings	1	1	1	1
Total interest expense	1,286,350	1,429,317	2,450,578	2,756,504
NET INTEREST INCOME	168,269	201,020	326,141	388,863
NON-INTEREST INCOME (LOSS):
Net gains (losses) on trading securities	(27,820)	16,706	(51,053)	64,230
Net gains (losses) on sales of available-for-sale securities	1,314	0	2,408	0
Net gains (losses) on financial instruments held under fair value option	9,122	(471)	20,408	4,237
Net gains (losses) on derivatives	22,156	(22,386)	25,141	(65,458)
Other, net	8,322	8,061	16,585	15,990
Total non-interest income (loss)	13,094	1,910	13,489	18,999
NON-INTEREST EXPENSE:
Compensation and benefits	15,091	14,726	30,903	30,365
Other operating expenses	10,673	8,749	21,116	19,339
Voluntary housing and community investment	7,546	7,640	20,710	19,138
Finance Agency	2,393	2,818	4,785	5,635
Office of Finance	2,073	1,558	4,633	3,432
Other	1,386	1,650	3,485	2,880
Total non-interest expense	39,162	37,141	85,632	80,789
INCOME BEFORE ASSESSMENTS	142,201	165,789	253,998	327,073
Affordable Housing Program assessments	14,399	16,651	25,740	32,832
NET INCOME	$ 127,802	$ 149,138	$ 228,258	$ 294,241

Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net income	$ 228,258	$ 294,241
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization/(accretion)	32,523	(53,070)
Net change in derivative and hedging activities	349,699	(513,875)
Net change in fair value adjustments on trading securities	51,053	(64,230)
Net realized (gains) losses from sales of available-for-sale securities	(2,408)	0
Net change in fair value adjustments on financial instruments held under fair value option	(20,408)	(4,237)
Other adjustments, net	4,204	5,339
Net change in:
Accrued interest receivable	(9,402)	(16,858)
Other assets	3,191	2,666
Accrued interest payable	19,297	49,983
Other liabilities	6,431	15,048
Total adjustments	434,180	(579,234)
Net cash provided by (used in) operating activities	662,438	(284,993)
Net change in:
Interest-bearing deposits	(219,978)	(181,148)
Securities purchased under agreements to resell	2,000,000	(2,261,363)
Federal funds sold	1,293,000	(4,170,000)
Trading securities:
Proceeds from maturities and paydowns	179,410	1
Purchases	(247,250)	0
Available-for-sale securities:
Proceeds from maturities and paydowns	67,000	0
Proceeds from sales	1,716,789	0
Purchases	(3,177,624)	(1,135,300)
Held-to-maturity securities:
Proceeds from maturities and paydowns	1,411,963	1,098,284
Purchases	(2,697,877)	(1,619,748)
Advances, net	(23,773,918)	(92,792)
Mortgage loans held for portfolio:
Principal collected	589,098	348,364
Purchases	(1,303,535)	(705,191)
Loans to other FHLBanks, net	0	(700,000)
Premises, software, and equipment, net	(6,169)	(3,550)
Net cash provided by (used in) investing activities	(24,169,091)	(9,422,443)
FINANCING ACTIVITIES:
Net change in deposits	263,594	15,764
Net proceeds from issuance of Consolidated Obligations:
Discount Notes	84,988,636	64,857,300
Bonds	78,626,242	76,681,180
Payments for maturing and retiring Consolidated Obligations:
Discount Notes	(81,928,318)	(62,986,518)
Bonds	(59,309,250)	(68,917,500)
Proceeds from issuance of capital stock	5,332,086	2,438,521
Payments for repurchase of capital stock	(4,258,889)	(2,143,564)
Payments for repurchase/redemption of mandatorily redeemable capital stock	(32,542)	(33,454)
Cash dividends paid	(174,812)	(209,088)
Net cash provided by (used in) financing activities	23,506,747	9,702,641
Net increase (decrease) in cash and due from banks	94	(4,795)
Cash and due from banks at beginning of the period	5,475	28,276
Cash and due from banks at end of the period	5,569	23,481
Supplemental Disclosures:
Interest paid	$ 2,418,337	$ 2,788,485