"The Bank's consistent financial performance continues to support liquidity and funding solutions and facilitates our ongoing commitment to offer housing and community investment programs to our financial institution members. We are proud to serve as a crucial source of liquidity in all environments so our members can strengthen the communities they serve," said President and CEO Timothy J. Barrett.
First Quarter 2026 Operating Highlights:
Net income was $44.3 million for the three months ended March 31, 2026, a decrease from $57.0 million for the first quarter of 2025 primarily due to a decrease in net interest income and other income and a faster initial pace of spending on discretionary housing and community investment programs.
Net interest income was $85.7 million in the first quarter of 2026, compared to $92.8 million for the first quarter of 2025, primarily driven by significantly lower short-term interest rates, an $8.3 billion decline in average advances, and a $160.8 million decline in average capital.
Net interest spread was 0.28% during the first quarter of 2026, an increase of six basis points from the first quarter of 2025.
A total of $8.9 million was set aside for the Affordable Housing Program, which includes a $4.9 million statutory assessment and a $4.0 million voluntary contribution during the quarter.
$6.6 million was contributed to the Bank's discretionary housing and community investment programs.
March 31, 2026 Financial Condition Highlights:
Total assets increased to $71.4 billion at March 31, 2026, up from $68.8 billion at year-end 2025.
Advances totaled $40.5 billion at the end of the quarter, an increase from $38.8 billion at the end of 2025.
Total capital was $3.9 billion, an increase from $3.8 billion at year-end 2025, primarily attributable to the increase in advances.
As of March 31, 2026, the Bank was in compliance with all regulatory capital ratios.
The Bank is classified as "adequately capitalized" by its regulator, based on the most recent information available as of December 31, 2025.
Dividend:
A dividend equal to an annual yield of 6.71% was declared by the Bank's board of directors. The dividend, based on average stock outstanding for the first quarter of 2026, will be paid on May 4, 2026. Future dividend declarations remain at the discretion of the board of directors.
About the Bank
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.
Contact:Adam Coldwell617-292-9774[email protected]
Federal Home Loan Bank of Boston
Balance Sheet Highlights
(Dollars in thousands)
(Unaudited)
3/31/2026
12/31/2025
3/31/2025
ASSETS
Cash and due from banks
$ 25,930
$ 1,184
$ 26,697
Advances
40,516,560
38,762,563
45,427,914
Investments (1)
25,989,186
25,206,343
26,965,568
Mortgage loans held for portfolio, net
4,362,657
4,285,722
3,765,267
Other assets
524,016
556,837
608,712
Total assets
$ 71,418,349
$ 68,812,649
$ 76,794,158
LIABILITIES
Consolidated obligations, net
$ 66,224,263
$ 63,625,913
$ 71,504,332
Deposits
874,209
