"Across the first quarter of 2026, Federal Home Loan Bank of New York members continued to rely on the certainty of our funding to help support their local lending activities," said Randolph C. Snook, president and CEO of the FHLBNY. "Our ability to execute on our foundational liquidity mission also positions our cooperative to serve as a trusted community partner, as we allocated more than $22 million from this quarter's earnings to fund our affordable housing and community development programs."
Highlights from the first quarter of 2026 include:
Net income for the quarter was $153.9 million, a decrease of $1.8 million, or 1.2%, from net income of $155.7 million for the first quarter of 2025. Net interest income increased by $2.5 million compared with the first quarter of 2025, offset by a decrease in Non-interest income of $2.4 million and an increase in Non-interest expense of $2.0 million.
Return on average equity ("ROE") for the quarter was 7.31% (annualized), compared to ROE of 7.16% for the first quarter of 2025.
As of March 31, 2026, total assets were $176.7 billion, an increase of $20.2 billion, or 12.9%, from total assets of $156.5 billion at December 31, 2025. As of March 31, 2026, advances (par amount) were $110.5 billion, an increase of $18.0 billion, or 19.5%, from $92.5 billion at December 31, 2025.
As of March 31, 2026, total capital was $8.9 billion, an increase of $0.85 billion from total capital of $8.0 billion at December 31, 2025. The FHLBNY's retained earnings increased by $0.1 billion to $2.7 billion as of March 31, 2026, of which $1.3 billion was unrestricted and $1.4 billion was restricted. At March 31, 2026, the FHLBNY was in compliance with its regulatory capital ratios and liquidity requirements.
The FHLBNY allocated $22.3 million from its first quarter 2026 earnings to support affordable housing and community development initiatives. This amount consisted of $17.1 million for the FHLBNY's statutory Affordable Housing Program and $5.2 million in voluntary contributions for the FHLBNY's other community support programs.
The FHLBNY currently expects to file its Form 10-Q for the first quarter of 2026 with the U.S. Securities and Exchange Commission on or about May 7, 2026.
Selected Balance Sheet Items (dollars in millions)
March 31,
December 31,
2026
2025
Change
Advances
$
110,240
$
92,307
$
17,933
Mortgage loans held for portfolio
2,689
2,644
45
Mortgage-backed securities
21,621
20,460
1,161
Liquidity assets
38,846
37,885
961
Total assets
$
176,665
$
156,545
$
20,120
Consolidated obligations
$
164,999
$
144,486
