Real Estate Central

BOSTON, May 6 /PRNewswire/ — The Federal Home Loan Bank of Boston (the
Bank) announced the following unaudited results for the quarter ended March
31, 2008:

First Quarter 2008 Balance-Sheet Highlights

Total assets rose 2.9 percent to $80.4 billion at March 31, 2008, up
from $78.2 billion at yearend 2007. Advances increased 6.3 percent to $59.2
billion, compared with $55.7 billion at yearend 2007, and represented 73.6
percent of total assets. Investments and short-term money-market
instruments were $16.7 billion at March 31, 2008, down from $17.9 billion
at yearend 2007. Mortgage assets remained virtually unchanged at $4.1
billion at March 31, 2008, compared with yearend 2007. Capital rose 3.3
percent to $3.5 billion at March 31, 2008, compared with $3.4 billion at
yearend 2007.

First Quarter 2008 Operating Results

Net income for the first quarter of 2008 grew 29.5 percent to $56.2
million, compared with $43.4 million for the same period in 2007. Net
interest income was $96.5 million for the quarter ended March 31, 2008,
compared with $70.0 million for the same period in 2007. This

6.5 million
increase was primarily attributable to a significant increase in the size
of the balance sheet in the first quarter of 2008, as compared with the
same period in 2007.

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
support the residential-mortgage and community-development lending
activities of its members, which include over 450 financial institutions
across New England. To accomplish its mission, the Bank utilizes
private-sector capital to provide members and other qualified customers
with reliable access to low-cost wholesale funds, liquidity, a competitive
outlet for the sale of loans, special lending programs, technical
assistance, and other products and services.




CONTACT: Mark S. Zelermyer
617-292-9750
mark.zelermyer@fhlbboston.com



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Source: Real Estate Newswire

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