Federal Home Loan Bank of Dallas

CIK:0001331757|SEC Filings

Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Statements of Income (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Advances	$ 526,425	$ 790,229	$ 1,057,133	$ 1,558,446
Prepayment fees on advances, net	421	386	3,345	762
Interest-bearing deposits	28,616	35,377	59,018	69,875
Securities purchased under agreements to resell	60,089	33,315	128,900	70,263
Federal funds sold	80,736	133,520	146,012	271,599
Trading securities	40,706	29,748	102,385	57,299
Available-for-sale securities	209,347	250,510	425,111	503,256
Held-to-maturity securities	11,113	15,529	23,260	23,427
Mortgage loans held for portfolio	81,654	68,072	158,415	132,886
Other	322	261	633	486
Total interest income	1,039,429	1,356,947	2,104,212	2,688,299
Consolidated obligations
Bonds	541,992	961,280	1,099,759	1,895,657
Discount notes	302,340	179,466	617,432	360,336
Deposits	23,541	20,411	43,003	46,524
Mandatorily redeemable capital stock	1,329	80	2,599	204
Other borrowings	17	4	21	8
Total interest expense	869,219	1,161,241	1,762,814	2,302,729
NET INTEREST INCOME	170,210	195,706	341,398	385,570
Provision for credit losses	837	1,626	962	3,790
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	169,373	194,080	340,436	381,780
OTHER INCOME (LOSS)
Net gains (losses) on trading securities	(5,077)	3,685	(14,813)	16,209
Net gains (losses) on derivatives and hedging activities	4,100	963	9,166	(3,304)
Net gains on other assets carried at fair value	2,739	1,803	1,879	1,152
Letter of credit fees	5,672	5,909	11,570	11,855
Other, net	1,661	1,457	3,062	2,608
Total other income	9,095	13,817	10,864	28,520
OTHER EXPENSE
Compensation and benefits	17,788	15,860	34,866	32,107
Other operating expenses	13,875	12,951	26,641	24,735
Finance Agency	1,950	2,856	3,900	5,712
Office of Finance	1,894	1,551	3,514	3,293
Voluntary grants, subsidies, donations and Affordable Housing Program contributions	5,415	8,785	9,108	10,919
Derivative clearing fees	175	334	340	600
Total other expense	41,097	42,337	78,369	77,366
INCOME BEFORE ASSESSMENTS	137,371	165,560	272,931	332,934
Affordable Housing Program assessment	13,870	16,564	27,553	33,314
NET INCOME	$ 123,501	$ 148,996	$ 245,378	$ 299,620

Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income	$ 245,378	$ 299,620
Depreciation and amortization
Net premiums and discounts on advances, consolidated obligations, investments and mortgage loans	(84,792)	(101,254)
Concessions on consolidated obligations	3,370	2,413
Premises, equipment and computer software costs	1,580	1,418
Non-cash interest on mandatorily redeemable capital stock	1,541	132
Provision for credit losses	962	3,790
Net gains on other assets carried at fair value	(1,879)	(1,152)
Net losses (gains) on trading securities	14,813	(16,209)
Net change in derivative and hedging activities	15,008	(366,106)
Decrease in accrued interest receivable	27,462	40,015
Decrease (increase) in other assets	1,465	(22,967)
Increase (decrease) in Affordable Housing Program (AHP) liability	(3,819)	14,132
Increase (decrease) in accrued interest payable	72,769	(31,242)
Decrease in other liabilities	(4,128)	(4,009)
Total adjustments	44,352	(481,039)
Net cash provided by (used in) operating activities	289,730	(181,419)
INVESTING ACTIVITIES
Net increase in interest-bearing deposits, including swap collateral pledged	(656,023)	(16,128)
Net decrease in securities purchased under agreements to resell	3,200,000	11,100,000
Net increase in federal funds sold	(3,715,000)	(2,415,000)
Purchases of trading securities	(7,088,418)	(484,988)
Proceeds from maturities of trading securities	3,600,000	0
Proceeds from sales of trading securities	2,245,357	650,585
Purchases of available-for-sale securities	(821,174)	0
Principal collected on available-for-sale securities	1,408,051	1,030,566
Purchases of held-to-maturity securities	0	(966,868)
Principal collected on held-to-maturity securities	126,498	52,738
Net decrease in advances	3,279,325	3,929,687
Purchases of mortgage loans held for portfolio	(758,020)	(645,852)
Principal collected on mortgage loans held for portfolio	392,736	241,853
Purchases of premises, equipment and computer software	(4,451)	(2,999)
Net cash provided by investing activities	1,208,881	12,473,594
FINANCING ACTIVITIES
Net increase in deposit liabilities, including swap collateral held	739,320	77,757
Net receipts (payments) on derivative contracts with financing elements	6,082	(4,786)
Net proceeds from issuance of consolidated obligations
Discount notes	61,472,051	52,189,190
Bonds	36,897,640	51,686,390
Debt issuance costs	(3,034)	(2,511)
Payments for maturing and retiring consolidated obligations
Discount notes	(61,583,251)	(48,774,212)
Bonds	(38,852,900)	(67,040,480)
Proceeds from issuance of capital stock	1,524,683	1,435,404
Proceeds from issuance of mandatorily redeemable capital stock	206	0
Payments for redemption of mandatorily redeemable capital stock	(185,859)	(12,279)
Payments for repurchase/redemption of capital stock	(1,545,122)	(1,846,827)
Cash dividends paid	(128)	(131)
Net cash used in financing activities	(1,530,312)	(12,292,485)
Net decrease in cash and cash equivalents	(31,701)	(310)
Cash and cash equivalents at beginning of the period	39,430	14,945
Cash and cash equivalents at end of the period	7,729	14,635
Supplemental Disclosures:
Interest paid	1,814,024	2,473,848
AHP payments, net	32,222	20,587
Stock dividends issued	71,951	107,348
Dividends paid through issuance of mandatorily redeemable capital stock	4,003	155
Net capital stock reclassified to mandatorily redeemable capital stock	257,373	13,521
Right-of-use assets acquired by lease	$ 0	$ 113