The on Friday reported first-quarter webbing revenue of $57.5 million, or $1.40 per share, up from $53.8 million, or $1.73 per share, a year ago.
In a announcement release, the bank attributed the get to to a $6 million escalation in network vigorish income. Loan volumes more than cancel any declines in consequence rates. Total loans to members increased $4.7 billion to $73.5 billion, compared with $68.8 billion on Dec. 31, 2007.
"This quarter's results mirror our members' uninterrupted shortage for liquidity in these troubled markets and our continuing cleverness to help them," said John R. Price, president and CEO, in a statement. "Like our customers, we status declining stake rates and narrowing spreads, yet we make a case for enough capability to purvey inviting funding in all vend cycles." FHLBank Pittsburgh is one of 12 government-sponsored entities created by Congress in 1942 to fix up a staunch tributary of low-cost shield finance.
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