DALLAS--(BUSINESS WIRE)--February 19, 2026--
The Federal Home Loan Bank of Dallas (Bank) today reported net income of $126.2 million for the quarter ended December 31, 2025. In comparison, for the quarters ended September 30, 2025 and December 31, 2024, the Bank reported net income of $156.7 million and $174.4 million, respectively. For the year ended December 31, 2025, the Bank reported net income of $582.6 million, as compared to $726.6 million for the year ended December 31, 2024.
Total assets at December 31, 2025 were $108.5 billion, compared with $112.2 billion at September 30, 2025 and $127.7 billion at December 31, 2024. Average total assets decreased from $122.5 billion and $124.8 billion for the quarter and year ended December 31, 2024, respectively, to $108.1 billion and $112.1 billion for the corresponding periods in 2025. The $3.7 billion decrease in total assets during the fourth quarter of 2025 was primarily attributable to decreases in the Bank's short-term liquidity holdings ($3.6 billion) and advances ($0.4 billion), partially offset by an increase in the Bank's mortgage loans held for portfolio ($0.2 billion). The $19.2 billion decrease in total assets during the year ended December 31, 2025 was attributable primarily to decreases in the Bank's advances ($16.9 billion) and short-term liquidity holdings ($4.1 billion), partially offset by increases in the Bank's long-term investments ($1.0 billion) and mortgage loans held for portfolio ($0.8 billion).
Advances totaled $50.8 billion at December 31, 2025, compared with $51.2 billion at September 30, 2025 and $67.7 billion at December 31, 2024. The Bank's mortgage loans held for portfolio totaled $6.6 billion at December 31, 2025, as compared to $6.4 billion at September 30, 2025 and $5.8 billion at December 31, 2024.
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 $1.0 billion, $1.1 billion and $0.2 billion at December 31, 2025, September 30, 2025 and December 31, 2024, respectively. 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 $19.3 billion at December 31, 2025, as compared to $19.2 billion at September 30, 2025 and $19.0 billion at December 31, 2024. At December 31, 2024, the Bank also held a $0.1 billion long-term U.S. Treasury Note classified as trading.
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 December 31, 2025, September 30, 2025 and December 31, 2024, the Bank's short-term liquidity holdings totaled $30.3 billion, $33.9 billion and $34.4 billion, respectively.
The Bank's retained earnings increased to $3.227 billion at December 31, 2025 from $3.149 billion at September 30, 2025 and $2.849 billion at December 31, 2024. On December 23, 2025, a dividend of $48.2 million was paid to the Bank's shareholders.
For the year ended December 31, 2025, the Bank set aside $69.1 million for its Affordable Housing Program $(AHP)$, which was comprised of a $64.8 million statutory assessment and a $4.3 million voluntary contribution. In addition, during the year ended December 31, 2025, the Bank made available $8.7 million for its voluntary loan programs, and it expensed voluntary grants, subsidies and donations totaling $36.4 million. In comparison, for the year ended December 31, 2024, the Bank set aside $82.4 million for its AHP, which was comprised of an $80.7 million statutory assessment and a $1.7 million voluntary contribution. In addition, during the year ended December 31, 2024, the Bank made available $38.9 million for its voluntary loan programs, and it expensed $12.9 million in voluntary grants and donations.
Additional selected financial data as of and for the quarter and year ended December 31, 2025 (and, for comparative purposes, as of September 30, 2025 and December 31, 2024, and for the quarters ended September 30, 2025 and December 31, 2024 and the year ended December 31, 2024) is set forth below. Further discussion and analysis regarding the Bank's results will be included in its Form 10-K for the year ended December 31, 2025 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 800 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 Year Ended December 31, 2025
(Unaudited, in thousands)
December 31, September 30, December 31,
2025 2025 2024
---------------- ---------------- ----------------
Selected
Statement of
Condition Data:
Assets
Investments (1) $ 50,656,003 $ 54,214,405 $ 53,740,886
Advances 50,820,106 51,163,413 67,743,248
Mortgage loans
held for
portfolio, net 6,555,131 6,370,050 5,764,053
Cash and other
assets 480,775 437,152 476,861
------------ ------------ ------------
Total assets $ 108,512,015 $ 112,185,020 $ 127,725,048
============ ============ ============
Liabilities
Consolidated
obligations
Discount notes $ 40,185,289 $ 32,352,595 $ 21,637,276
Bonds 57,885,556 67,904,709 96,215,218
------------ ------------ ------------
Total
consolidated
obligations 98,070,845 100,257,304 117,852,494
Mandatorily
redeemable
capital stock 7,967 1,152 181
Other liabilities 3,663,332 5,299,032 2,676,712
------------ ------------ ------------
Total
liabilities 101,742,144 105,557,488 120,529,387
------------ ------------ ------------
Capital
Capital stock --
putable 3,338,359 3,340,830 4,168,043
Retained earnings 3,227,044 3,149,056 2,848,948
Total accumulated
other
comprehensive
income 204,468 137,646 178,670
------------ ------------ ------------
Total capital 6,769,871 6,627,532 7,195,661
------------ ------------ ------------
Total
liabilities
and capital $ 108,512,015 $ 112,185,020 $ 127,725,048
============ ============ ============
Total regulatory
capital (2) $ 6,573,370 $ 6,491,038 $ 7,017,172
============ ============ ============
For the For the For the For the For the
Quarter Quarter Quarter Year Year
Ended Ended Ended Ended Ended
December December December December
31, September 31, 31, 31,
2025 30, 2025 2024 2025 2024
-------- ----------- -------- -------- --------
Selected Statement
of Income Data:
Net interest income
(3) $176,767 $ 203,687 $212,454 $762,234 $891,592
Other income 16,007 15,224 20,064 59,751 63,803
Other expense
Operating
expense 28,194 30,095 29,796 115,131 111,902
Voluntary
grants,
subsidies,
donations and
AHP
contributions 19,861 9,964 3,830 40,744 14,663
Other 4,470 4,719 5,148 18,794 21,461
AHP assessment 14,033 17,415 19,375 64,762 80,742
------- ------- ------- ------- -------
Net income $126,216 $ 156,718 $174,369 $582,554 $726,627
======= ======= ======= ======= =======
(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 December 31, 2025, September 30, 2025 and December 31, 2024, total
regulatory capital represented 6.06 percent, 5.79 percent and 5.49
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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CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445
(END) Dow Jones Newswires
February 19, 2026 13:18 ET (18:18 GMT)