Federal Home Loan Bank of Pittsburgh

CIK:0001330399|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	$ 571,692	$ 661,021	$ 973,751	$ 1,399,384
Interest-bearing deposits	29,973	36,623	56,071	75,625
Securities purchased under agreements to resell	20,217	30,003	39,784	104,097
Federal funds sold	90,813	91,239	175,237	148,567
Trading securities	925	1,210	1,885	2,472
Available-for-sale (AFS) securities	211,446	234,243	412,528	462,804
Held-to-maturity (HTM) securities	10,122	13,540	21,108	27,035
Mortgage loans held for portfolio	55,800	47,950	109,499	93,873
Total interest income	990,988	1,115,829	1,789,863	2,313,857
Interest expense:
Consolidated obligations - discount notes	258,434	78,127	449,891	187,238
Consolidated obligations - bonds	578,673	862,873	1,046,909	1,772,284
Deposits	5,857	6,850	11,570	14,039
Mandatorily redeemable capital stock and other borrowings	335	145	622	291
Interest Expense, Operating	843,299	947,995	1,508,992	1,973,852
Net interest income	147,689	167,834	280,871	340,005
Provision (reversal) for credit losses	1,103	715	2,371	1,496
Net interest income after provision for credit losses	146,586	167,119	278,500	338,509
Other noninterest income (loss):
Net gains (losses) on investment securities (Note 2)	(524)	740	(1,137)	3,120
Net gains (losses) on derivatives (Note 5)	858	(7,750)	(6,543)	(19,617)
Standby letters of credit fees	7,513	8,844	15,428	17,607
Other, net	259	(383)	1,505	299
Total noninterest income (loss)	8,106	1,451	9,253	1,409
Other Expense
Compensation and benefits	16,022	15,644	31,204	31,906
Other operating	12,995	13,089	23,111	23,437
Finance Agency	1,501	2,473	3,005	4,950
Office of Finance	1,681	1,376	2,980	3,222
Total other expense	41,048	44,402	74,664	82,342
Income before assessments	113,644	124,168	213,089	257,576
Affordable Housing Program (AHP) assessment	11,398	12,431	21,371	25,786
Net income	102,246	111,737	191,718	231,790
Voluntary Contribution Expense	$ 8,849	$ 11,820	$ 14,364	$ 18,827

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	$ 191,718	$ 231,790
Adjustments to reconcile net income to net cash provided by(used in) operating activities:
Depreciation and amortization	92,078	(27,110)
Net change in derivative and hedging activities	161,129	(364,717)
Net realized (gains) loss from sales of AFS securities	0	(417)
Net change in fair value adjustments on trading securities	1,137	(2,703)
Other adjustments	2,518	1,814
Net change in:
Accrued interest receivable	(109,302)	104,746
Other assets	(904)	5,176
Accrued interest payable	108,376	(33,872)
Other liabilities	11,033	11,868
Net cash provided by (used in) operating activities	457,783	(73,425)
Net change in:
Interest-bearing deposits (including $280 and $(269) (to) from other FHLBanks)	(993,787)	235,663
Federal funds sold	480,000	3,600,000
Federal funds sold	(1,120,000)	(3,104,000)
Proceeds	5,000	10,000
AFS securities:
Proceeds (includes $0, and $346,659 from sales)	1,717,677	1,448,078
Purchases	(4,171,201)	(1,452,730)
HTM securities:
Proceeds	129,033	119,376
Purchases	0	(99,707)
Advances:
Repaid	220,469,759	187,617,124
Originated	(261,418,795)	(170,122,854)
Mortgage loans held for portfolio:
Proceeds	281,291	197,553
Purchases	(550,263)	(454,880)
Other investing activities, net	(5,410)	(4,094)
Net cash provided by (used in) investing activities	(45,176,696)	17,989,529
FINANCING ACTIVITIES
Net change in deposits	33,813	(161,914)
Net proceeds from issuance of consolidated obligations:
Discount notes	193,461,002	190,920,023
Bonds	68,577,177	55,744,328
Payments for maturing and retiring consolidated obligations
Discount notes	(180,809,370)	(197,962,747)
Bonds	(38,048,840)	(65,672,155)
Proceeds from issuance of capital stock	4,078,516	1,845,808
Payments for repurchase/redemption of capital stock	(2,454,741)	(2,476,293)
Payments for repurchase/redemption of mandatorily redeemable capital stock	(11,851)	(794)
Cash dividends paid	(102,650)	(149,768)
Net cash provided by (used in) financing activities	44,723,056	(17,913,512)
Net increase (decrease) in cash and due from banks	4,143	2,592
Cash and due from banks at beginning of the period	32,585	17,340
Cash and due from banks at end of the period	36,728	19,932
Supplemental disclosures:
Interest paid	1,343,793	2,083,350
Capital stock reclassified to mandatorily redeemable capital stock	$ 12,886	$ 0