The Federal Home Loan Bank of Dallas (Bank) today reported net income of $123.5 million for the quarter ended June 30, 2026. In comparison, for the quarters ended March 31, 2026 and June 30, 2025, the Bank reported net income of $121.9 million and $149.0 million, respectively. For the six months ended June 30, 2026, the Bank reported net income of $245.4 million, as compared to $299.6 million for the six months ended June 30, 2025.

Total assets at June 30, 2026 were $107.8 billion, compared with $97.1 billion at March 31, 2026 and $108.5 billion at December 31, 2025. Average total assets decreased from $114.3 billion and $114.3 billion for the quarter and six months ended June 30, 2025 to $101.9 billion and $103.5 billion for the corresponding periods in 2026. The $10.7 billion increase in total assets during the second quarter of 2026 was primarily attributable to increases in the Bank’s short-term liquidity holdings ($8.6 billion), advances ($3.2 billion) and mortgage loans held for portfolio ($0.2 billion), partially offset by a decrease in the Bank’s long-term investments ($1.2 billion). The $0.7 billion decrease in total assets during the six months ended June 30, 2026 was primarily attributable to decreases in the Bank’s advances ($3.4 billion) and long-term investments ($1.6 billion), partially offset by increases in the Bank’s short-term liquidity holdings ($4.1 billion) and mortgage loans held for portfolio ($0.3 billion).

Advances totaled $47.4 billion at June 30, 2026, compared with $44.2 billion at March 31, 2026 and $50.8 billion at December 31, 2025. The Bank’s mortgage loans held for portfolio totaled $6.9 billion at June 30, 2026, as compared to $6.7 billion at March 31, 2026 and $6.6 billion at December 31, 2025.

The carrying value of the Bank’s long-term held-to-maturity securities portfolio, which is comprised of U.S. agency residential mortgage-backed securities (MBS), totaled $0.9 billion at June 30, 2026, as compared to $1.0 billion at both March 31, 2026 and December 31, 2025. The carrying value of the Bank’s long-term available-for-sale securities portfolio, which is comprised of U.S. agency debentures and U.S. agency commercial MBS, totaled $17.8 billion at June 30, 2026, as compared to $18.9 billion at March 31, 2026 and $19.3 billion at December 31, 2025.

The Bank’s short-term liquidity holdings are typically comprised of overnight interest-bearing deposits, overnight federal funds sold, overnight reverse repurchase agreements, U.S. Treasury Bills, U.S. Treasury Notes and, from time to time, may also include cash held at the Federal Reserve. At June 30, 2026, March 31, 2026 and December 31, 2025, the Bank’s short-term liquidity holdings totaled $34.4 billion, $25.8 billion and $30.3 billion, respectively.

The Bank’s retained earnings increased to $3.396 billion at June 30, 2026 from $3.307 billion at March 31, 2026 and $3.227 billion at December 31, 2025. On June 24, 2026, a dividend of $34.4 million was paid to the Bank’s shareholders.

Additional selected financial data as of and for the quarter and six months ended June 30, 2026 (and, for comparative purposes, as of March 31, 2026 and December 31, 2025, and for the quarters ended March 31, 2026 and June 30, 2025 and the six months ended June 30, 2025) is set forth below. Further discussion and analysis regarding the Bank’s results will be included in its Form 10-Q for the quarter ended June 30, 2026 to be filed with the Securities and Exchange Commission.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System, which was created by Congress in 1932. The Bank is a member-owned cooperative that supports housing and community development by providing competitively priced funding solutions, liquidity, and other credit products to approximately 780 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the Bank’s website at fhlb.com.

Federal Home Loan Bank of Dallas

Selected Financial Data

As of and For the Quarter and Six Months Ended June 30, 2026

(Unaudited, in thousands)

 

 

June 30, 2026

 

March 31, 2026

 

December 31, 2025

Selected Statement of Condition Data:

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

Investments (1)

 

$

53,023,732

 

$

45,709,491

 

$

50,656,003

Advances

 

 

47,410,991

 

 

44,215,047

 

 

50,820,106

Mortgage loans held for portfolio, net

 

 

6,909,890

 

 

6,725,287

 

 

6,555,131

Cash and other assets

 

 

423,857

 

 

422,239

 

 

480,775

Total assets

 

$

107,768,470

 

$

97,072,064

 

$

108,512,015

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Consolidated obligations

 

 

 

 

 

 

Discount notes

 

$

40,033,146

 

$

27,317,808

 

$

40,185,289

Bonds

 

 

55,899,046

 

 

60,190,861

 

 

57,885,556

Total consolidated obligations

 

 

95,932,192

 

 

87,508,669

 

 

98,070,845

Mandatorily redeemable capital stock

 

 

85,231

 

 

101,662

 

 

7,967

Other liabilities

 

 

4,955,533

 

 

3,196,325

 

 

3,663,332

Total liabilities

 

 

100,972,956

 

 

90,806,656

 

 

101,742,144

Capital

 

 

 

 

 

 

Capital stock — putable

 

 

3,132,498

 

 

2,752,740

 

 

3,338,359

Retained earnings

 

 

3,396,340

 

 

3,307,256

 

 

3,227,044

Total accumulated other comprehensive income

 

 

266,676

 

 

205,412

 

 

204,468

Total capital

 

 

6,795,514

 

 

6,265,408

 

 

6,769,871

Total liabilities and capital

 

$

107,768,470

 

$

97,072,064

 

$

108,512,015

 

 

 

 

 

 

 

Total regulatory capital (2)

 

$

6,614,069

 

$

6,161,658

 

$

6,573,370

 

 

For the

 

For the

 

For the

 

For the

 

For the

 

 

Quarter Ended

 

Quarter Ended

 

Quarter Ended

 

Six Months Ended

 

Six Months Ended

 

 

June 30, 2026

 

March 31, 2026

 

June 30, 2025

 

June 30, 2026

 

June 30, 2025

Selected Statement of Income Data:

 

 

 

 

 

 

 

 

 

 

Net interest income (3)

 

$

169,373

 

$

171,063

 

$

194,080

 

$

340,436

 

$

381,780

Other income

 

 

9,095

 

 

1,769

 

 

13,817

 

 

10,864

 

 

28,520

Other expense

 

 

 

 

 

 

 

 

 

 

Operating expense

 

 

31,663

 

 

29,844

 

 

28,811

 

 

61,507

 

 

56,842

Voluntary grants, subsidies, donations and AHP contributions

 

 

5,415

 

 

3,693

 

 

8,785

 

 

9,108

 

 

10,919

Other

 

 

4,019

 

 

3,735

 

 

4,741

 

 

7,754

 

 

9,605

AHP assessment

 

 

13,870

 

 

13,683

 

 

16,564

 

 

27,553

 

 

33,314

Net income

 

$

123,501

 

$

121,877

 

$

148,996

 

$

245,378

 

$

299,620

 

 

 

 

 

 

 

 

 

 

 

(1)

Investments consist of interest-bearing deposits, securities purchased under agreements to resell, federal funds sold, trading securities, available-for-sale securities and held-to-maturity securities.

(2)

As of June 30, 2026, March 31, 2026 and December 31, 2025, total regulatory capital represented 6.14 percent, 6.35 percent and 6.06 percent, respectively, of total assets as of those dates.

(3)

Net interest income is net of the provision for credit losses.

 

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