Introduction

The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is a cooperative bank that provides financial services to its member financial institutions to help them provide affordable home mortgages and economic development credit to neighborhoods and communities. FHLBank Atlanta was established in 1932 and is one of 11 regional banks in the Federal Home Loan Bank System. The bank’s primary mission is to provide liquidity and funding to its members, which include commercial banks, credit unions, savings institutions, and insurance companies.

FHLBank Atlanta offers a range of services to its members, including competitively priced financing, community development grants, and other banking services. The bank’s Affordable Housing Program (AHP) provides subsidies to assist with closing costs and down payments for first-time and non-first-time homebuyers. The AHP has also helped veterans and families of veterans afford homes and rehabilitate their existing residences. FHLBank Atlanta’s Multifamily Housing Bridge Fund provides financing for the construction or rehabilitation of multifamily rental housing for low- to moderate-income families.

Key Takeaways

• FHLBank Atlanta is a cooperative bank that provides financial services to its member financial institutions to help them provide affordable home mortgages and economic development credit to neighborhoods and communities.
• FHLBank Atlanta offers a range of services to its members, including competitively priced financing, community development grants, and other banking services.
• FHLBank Atlanta’s Affordable Housing Program (AHP) provides subsidies to assist with closing costs and down payments for first-time and non-first-time homebuyers.

Federal Home Loan Bank of Atlanta Overview

The Federal Home Loan Bank of Atlanta is a cooperative bank that provides competitively priced financing, community development grants, and other banking services to its shareholders and communities. It is one of the 12 Federal Home Loan Banks that help financial institutions finance housing, jobs, and growth in their local communities.

The bank is headquartered in Atlanta, Georgia, and serves more than 700 member financial institutions in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. It was established in 1932 to provide liquidity to the housing finance system and has since evolved to provide a range of financial products and services to its members.

The Federal Home Loan Bank of Atlanta provides a variety of lending programs to help its members meet the needs of their customers. These programs include advances, letters of credit, and standby purchase agreements. The bank also offers community development grants to support affordable housing and economic development projects in its members’ communities.

In addition to its lending programs and community development grants, the Federal Home Loan Bank of Atlanta provides a range of other banking services to its members. These services include safekeeping, wire transfer, and cash management services. The bank also offers online banking services to help its members manage their accounts more efficiently.

Overall, the Federal Home Loan Bank of Atlanta plays an important role in helping its members meet the needs of their customers and support economic growth in their communities.

Key Services

The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) offers a range of services to its member financial institutions. These services include Advances, Mortgage PurcProgramsogram, and Community Investment Services.

Advances

FHLBank Atlanta’s Advances are low-cost loans that provide liquidity to its members. Members can use Advances to fund mortgages, consumer loans, and other types of loans. Advances are available in a variety of maturities, ranging from overnight to 30 years. Members can choose from a range of interest rate structures, including fixed rate, adjustable rate, and variable rate.

Mortgage Purchase Program

FHLBank Atlanta’s Mortgage Purchase Program provides members with an efficient and cost-effective way to sell their mortgage loans. Members can sell fixed-rate and adjustable-rate mortgage loans to FHLBank Atlanta, which then holds the loans in its portfolio. This program allows members to manage their interest rate risk and liquidity needs while retaining their customer relationships.

Community Investment Services

FHLBank Atlanta’s Community Investment Services provide members with a range of products and services that support affordable housing and economic development in their communities. These products and services include the Affordable Housing Program, the Community Partners Product, and the Economic Development Program. The Affordable Housing Program provides grants and subsidized loans to support the construction, rehabilitation, and preservation of affordable housing. The Community Partners Product provides low-cost funding to support economic development initiatives. The Economic Development Program provides low-cost funding to support job creation and retention.

FHLBank Atlanta’s key services are designed to help its members meet the needs of their customers and communities. By providing low-cost funding and other support, FHLBank Atlanta helps its members grow and thrive.

Membership and Eligibility

Membership Types

The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) offers membership to a variety of financial institutions, including commercial banks, savings institutions, credit unions, insurance companies, and community development financial institutions. Each type of institution has different membership requirements and benefits.

Eligibility Requirements

To be eligible for membership, an institution must meet certain criteria outlined by FHLBank Atlanta. For example, commercial banks and savings institutions must be chartered by the state or federal government and have a primary regulator. Credit unions must be federally insured and have a minimum of $10 million in assets. Insurance companies must purchase or originate residential long-term home mortgage loans and have five percent of total net admitted assets in long-term mortgage loans.

In addition to meeting these criteria, institutions must also complete an application process to become a member. This process involves submitting an application form and providing documentation to verify eligibility and financial stability. Once approved, members have access to a variety of FHLBank Atlanta products and services, including low-cost funding, affordable housing and community development programs, and educational resources.

Overall, FHLBank Atlanta membership provides financial institutions with access to a range of benefits and resources to help them better serve their communities. By meeting the eligibility requirements and completing the application process, institutions can become part of a network of financial institutions committed to promoting affordable housing and economic development.

Governance and Leadership

Board of Directors

The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is governed by a Board of Directors consisting of 14 members. The board is responsible for overseeing the management of the bank and ensuring that it is safe and sound manner. The board members are elected by the bank’s members, who are primarily commercial banks, credit unions, and insurance companies.

The board is chaired by R. Thornwell Dunlap III, President and Chief Executive Officer of Countybank in Greenwood, South Carolina. Suzanne DeFerie, Director of First Bank in Southern Pines, North Carolina, serves as Vice-Chair. The board also includes Eduardo Arriola, Executive Vice President and Market Executive at SeacoastBank in Miami, Florida, and James Burke, President and Chief Executive Officer of Fidelity Bank in Atlanta, Georgia.

Executive Management

The Executive Management team at FHLBank Atlanta is responsible for the day-to-day operations of the bank. The team is led by President and Chief Executive Officer, Greg McGarity. Other members of the team include Chief Operating Officer, David Phillips, Chief Financial Officer, Jason Maddox, and Chief Risk Officer, Michael Johnson.

Under the leadership of the Executive Management team, FHLBank Atlanta has maintained a strong financial position and has been able to provide its members with access to low-cost funding to support their lending activities. The bank has also been recognized for its commitment to diversity, equity, and inclusion, and has been named one of the “Best Places to Work” by the Atlanta Business Chronicle.

In summary, the governance and leadership structure at FHLBank Atlanta is designed to ensure that the bank opens safely and sound manner while providing its members with access to low-cost funding to support their lending activities. The board of directors and executive management team work together to ensure that the bank remains financially strong and continues to meet the needs of its members.

Financial Performance

The Federal Home Loan Bank of Atlanta has consistently delivered strong financial performance in recent years. According to its 2022 Annual Report, the bank recorded a net income of $184 million for 2022, an increase of $51 million from the previous year. This increase in net income was primarily due to increasing market interest rates and declining deposit balances at member institutincreasingcrease in advance demand.

The bank’s financial highlights for the year ended December 31, 2022, include total assets of $138.5 billion, up from $134.6 billion in the previous year. The bank also saw a significant increase in advances, with $115.1 billion in advances outstanding at year-end, up from $110.1 billion in the previous year. The bank’s capital position also remained strong, with a total regulatory capital ratio of 6.7% at year-end.

In addition to its strong financial performance, the Federal Home Loan Bank of Atlanta has also maintained a solid credit rating. As of November 2023, the bank’s long-term issuer credit rating from Standard & Poor’s is AA-, while Moody’s rates the bank Aa3.

Overall, the Federal Home Loan Bank of Atlanta’s financial performance reflects its commitment to providing reliable and cost-effective funding to its member institutions while maintaining a strong capital position.

Regulatory and Legal Aspects

Regulatory Oversight

The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is a member of the Federal Home Loan Bank System, which is regulated by the Federal Housing Finance Agency (FHFA) under the Federal Home Loan Bank Act. The FHFA is an independent regulatory agency that oversees the FHLBank System to ensure that it opens safely and sound manner and fulfills its public policy mission.

The FHFA has the authority to examine and supervise the operations of the FHLBanks, including FHLBank Atlanta, to ensure compliance with applicable laws, regulations, and policies. The FHFA also reviews and approves the FHLBanks’ annual budgets, capital plans, and business strategies.

Compliance

FHLBank Atlanta is subject to various federal and state laws and regulations, including but not limited to the Federal Home Loan Bank Act, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Sarbanes-Oxley Act of 2002. FHLBank Atlanta is also subject to the rules and regulations of the New York Stock Exchange, where its capital stock is listed.

FHLBank Atlanta has established a comprehensive compliance program to ensure that it complies with all applicable laws, regulations, and policies. The compliance program includes policies and procedures, training, monitoring, and reporting. FHLBank Atlanta also has an internal audit function that provides independent assessments of its compliance with applicable laws, regulations, and policies.

FHLBank Atlanta is committed to maintaining the highest standards of corporate governance and ethical conduct. It has adopted a Code of Ethics and Business Conduct that applies to all of its directors, officers, and employees. The Code of Ethics and Business Conduct sets forth the ethical principles and standards of conduct that FHLBank Atlanta expects its directors, officers, and employees to follow in carrying out their duties and responsibilities.

Strategic Initiatives

Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has implemented several strategic initiatives to support its mission of providing affordable housing and economic development opportunities to communities throughout the Southeast region of the United States.

One of FHLBank Atlanta’s key initiatives is the Heirs’ Property Prevention and Resolution Grant Initiative. This program provides funding to organizations that work to prevent the loss of family-owned land due to heirs’ property issues. In 2023, FHLBank Atlanta awarded $1 million in funding to multiple organizations through this initiative [1].

FHLBank Atlanta also supports affordable housing through its Affordable Housing Program (AHP) Homeownership Set-aside Program. This program provides direct assistance to eligible borrowers to help them purchase or rehabilitate a home. In 2023, FHLBank Atlanta announced that funding for its 2023 AHP Homeownership Set-aside Program is now available [2]. In addition, FHLBank Atlanta announced that it is making an additional voluntary $4 million in AHP Homeownership Set-aside funding available through its members [3].

FHLBank Atlanta also co-sponsored a forum designed to address heirs’ property issues. The forum was hosted by FHLBank Atlanta, Federal Home Loan Bank of Boston, Federal Home Loan Bank of Dallas, Federal Home Loan Bank of Pittsburgh, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Richmond, and Asset Funders Network [4]. The forum was designed to prevent and resolve heirs’ property issues, which can often lead to the loss of family-owned land.

Overall, FHLBank Atlanta’s strategic initiatives demonstrate its commitment to supporting affordable housing and economic development in the Southeast region of the United States.

References

• [1] FHLBank Atlanta Announces $1 Million in Heirs’ Property Grant Initiative Awards. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-announces-1-million-in-heirs-property-grant-initiative-awards/
• [2] FHLBank Atlanta Announces 2023 Funding for AHP Homeownership Set-aside Program. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-announces-2023-funding-for-ahp-homeownership-set-aside-program/
• [3] FHLBank Atlanta Announces $4 Million in Additional Funds to Support Homeownership. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-announces-4-million-in-additional-funds-to-support-homeownership/
• [4] FHLBank Atlanta to Co-sponsor Forum Designed to Address Heirs’ Property. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-to-co-sponsor-forum-designed-to-address-heirs-property/

Community Impact

The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) is committed to making a positive impact on the communities it serves. FHLBank Atlanta members are required to meet certain standards of community investment or service to maintain continued access to FHLBank Atlanta’s long-term advances and new participation in the Bank’s Affordable Housing Program or other Community Investment Cash Advance programs.

One of the ways FHLBank Atlanta supports the communities is through its Affordable Housing Program (AHP), which provides funding to its member financial institutions to help finance the purchase, construction, or rehabilitation of affordable housing for low- to moderate-income families and individuals. FHLBank Atlanta recently announced an additional $4 million in funding to its AHP Homeownership Set-aside program to further support the communities its members serve. Eligible borrowers can apply for up to $15,000 to help them purchase or rehabilitate a home [1].

FHLBank Atlanta also supports community development initiatives that promote economic growth and job creation. Through its Community Investment Program (CIP), FHLBank Atlanta provides funding to support small business development, job training, and other community development initiatives. In 2022, FHLBank Atlanta awarded $8.3 million in CIP grants to 21 community development projects across its district, which includes Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia [2].

FHLBank Atlanta also supports disaster recovery efforts in its district through its Disaster Relief Funding program. The program provides funding to support community recovery efforts after natural disasters such as hurricanes, tornadoes, and floods. In 2021, FHLBank Atlanta provided $1 million in funding to support disaster recovery efforts in Alabama, Florida, and Georgia following Hurricane Sally [3].

Overall, FHLBank Atlanta’s commitment to community impact is evident through its various programs and initiatives that support affordable housing, community development, and disaster recovery efforts in its district.

[1] FHLBank Atlanta Announces $4 Million in Additional Funds to Support Homeownership. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-announces-4-million-in-additional-funds-to-support-homeownership/

[2] FHLBank Atlanta Awards $8.3 Million in Grants to Support Community Development Initiatives. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-awards-8-3-million-in-grants-to-support-community-development-initiatives/

[3] FHLBank Atlanta Provides $1 Million in Disaster Relief Funding to Support Hurricane Sally Recovery Efforts. Retrieved from https://corp.fhlbatl.com/who-we-are/news/fhlbank-atlanta-provides-1-million-in-disaster-relief-funding-to-support-hurricane-sally-recovery-efforts/

Frequently Asked Questions

What is the Federal Home Loan Bank of Atlanta?

The Federal Home Loan Bank of Atlanta is a cooperative bank that provides funding and other services to member financial institutions in the southeastern United States. It was established in 1932 and is one of 11 Federal Home Loan Banks in the United States. The bank is headquartered in Atlanta, Georgia, and serves Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.

How can I contact the Federal Home Loan Bank of Atlanta?

The Federal Home Loan Bank of Atlanta can be contacted by phone at (404) 888-8000 or toll-free at (800) 536-9650. The bank’s headquarters is located at 1475 Peachtree Street NE, Atlanta, GA 30309-3004. The bank also has several branch offices throughout its district.

What is the revenue of the Federal Home Loan Bank of Atlanta?

The Federal Home Loan Bank of Atlanta had a net income of $177.9 million in 2022, according to its annual report. The bank’s total assets were $135.2 billion and its total liabilities were $123.1 billion.

What is the annual report of the Federal Home Loan Bank of Atlanta?

The Federal Home Loan Bank of Atlanta publishes an annual report that provides information on the bank’s financial performance, operations, and governance. The most recent annual report can be found on the bank’s website at https://corp.fhlbatl.com/annual-report/.

What is the ownership structure of the Federal Home Loan Bank?

The Federal Home Loan Bank of Atlanta is a cooperative owned by its member financial institutions. Each member institution is required to purchase stock in the tower to become a member. The amount of stock that a member must purchase is based on the member’s asset size and the amount of borrowing that the member expects to do from the bank.

What is the current interest rate offered by the Federal Home Loan Bank?

The interest rates offered by the Federal Home Loan Bank of Atlanta vary depending on the type of funding and the term of the loan. The bank publishes its current interest rates on its website at https://corp.fhlbatl.com/rates/.

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