With community leaders and public officials, the Federal Home Loan Bank of San Francisco celebrated the grand opening of Ormond Beach Villas today, a $22 million project developed by Many Mansions to create 40 affordable homes for veterans and their families.
The Bank awarded $781,250 in grants that will be used by local government agencies and nonprofit Economic Development Districts to launch targeted disaster recovery and resiliency initiatives in five communities affected by recent natural disasters: Butte County, Lake County, Shasta County, Sonoma County, and Yuba County.
The Bank has awarded $1.5 million in grants through its 2019 AHEAD Program. The grants are made through the Bank’s member financial institutions to nonprofit organizations in Arizona, California, and Nevada advance innovative economic and community development initiatives and bring greater opportunity to underserved populations and neighborhoods.
The Board of Directors of the Federal Home Loan Bank of San Francisco has promoted Greg Ward to Executive Vice President and Chief Risk Officer and promoted Arlene Coyle to Senior Vice President and Chief Audit Executive, the role most recently held by Mr. Ward.
The Bank’s net income for the second quarter of 2019 was $49 million. On July 25, 2019, the Bank’s board of directors declared a quarterly dividend at an annualized rate of 7.00%.
The Federal Home Loan Bank of San Francisco has announced that it is extending its deadline for discontinuing the publication of its cost of funds indices from early 2020 to early 2021. The Bank is extending the deadline by one year to accommodate market participants.
FHLBank San Francisco, along with Speaker Nancy Pelosi (CA-12) and Congressmembers Barbara Lee (CA-13) and Eric Swalwell (CA-15), announced today that the San Francisco Bay Area will receive $14.3 million in Affordable Housing Program (AHP) grants. The funding was awarded to 15 projects that will increase the supply of affordable housing for lower-income families and individuals.
The Bank awarded $51.2 million in Affordable Housing Program (AHP) grants to 60 projects that will construct or rehabilitate 5,134 units of housing affordable for lower-income families and individuals in six states – Arizona, California, Maryland, Michigan, Nevada, and Texas.
FHLBank San Francisco and Congressman Ruben Gallego (AZ-7) announced that the the representative’s Phoenix District will receive a $400,000 Affordable Housing Program (AHP) grant to help build an innovative affordable housing development to serve both senior citizens and adults with Autism Spectrum Disorder (ASD).
FHLBank San Francisco and Congresswoman Dina Titus (NV-1) announced that the representative’s Las Vegas District will receive $1.25 million in Affordable Housing Program (AHP) funding to rehabilitate Archie Grant Park, a 125-unit public housing complex that serves seniors and people with disabilities.
FHLBank San Francisco, along with Congressmembers Karen Bass (CA-37) and Jimmy Gomez (CA-34), announced that $5.6 million in Affordable Housing Program (AHP) grants have been awarded to nine projects that will increase the supply of affordable housing for lower-income families and individuals in the representatives’ districts.
The Bank's net income was $104 million for the first quarter of 2019. On April 25, 2019, the Bank's board of directors declared a quarterly dividend at an annualized rate of 7.00%.
Thirty-nine member financial institutions have reserved $9.3 million in WISH and IDEA first-time homeuyer program funds to deliver matching downpayment assistance grants to lower-income households.
The Bank is pleased to announce the appointment of Holly Benson, Dr. Hilary Lopez, and Takao Suzuki to its Affordable Housing Advisory Council (AHAC) and the reappointment of current AHAC members Diana Yazzie Devine, Donald Falk, and Douglas Shoemaker to new three-year terms.
The Bank's net income was $360 for 2018 and $73 million for the fourth quarter of 2018. On February 21, 2019, the Bank's board of directors declared a quarterly dividend at an annualized rate of 7.00%.
The Bank is matching the charitable donations of its members to organizations helping victims and communities affected by recent natural disasters and is announcing several changes to expand this effort.
The Federal Home Loan Bank of San Francisco will stop publishing three cost of funds indices early in 2020 because the number of financial institutions eligible to report the data used to calculate the indices has declined significantly.
The Bank’s members re-elected Scott C. Syphax, CEO of Syphax Strategic Solutions Inc., Elk Grove, CA, to a nonmember public interest independent director position. The Bank’s California members also elected Virginia A. Varela, President & CEO and Director of Golden Pacific Bank, N.A., Sacramento, CA, as a California member director.
The Bank’s net income for the third quarter of 2018 was $102 million. On October 25, 2018, the Bank’s Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
The Bank has awarded $1.5 million in grants through its 2018 Access to Housing and Economic Assistance for Development (AHEAD) Program. The grants, which are made through the Bank’s member financial institutions, will be used by nonprofit organizations in Arizona, California, and Nevada to advance innovative economic development initiatives and foster community stability and self-sufficiency.
The Bank announced today that incumbent member director Brian M. Riley has been declared re-elected to a new four-year term on the Bank’s board beginning January 1, 2019, and ending December 31, 2022.
The Bank's net income for the second quarter of 2018 was $104 million. On July 26, 2018, the Bank's Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
The Bank announced today that it may stop publishing three cost of funds indices in 2020, including the 11th District Monthly Weighted Average Cost of Funds Index. There has been a significant decline in the number of financial institutions eligible to report the data used to calculate the indices.
In the 2018 Affordable Housing Program (AHP) funding competition, the Bank awarded $65.9 million in AHP grants to 70 projects that will construct or rehabilitate 6,067 units of housing affordable for lower-income families and individuals in seven states.
The Quality Jobs Fund, seeded with a $100 million charitable donation from the Federal Home Loan Bank of San Francisco, announced a $3.2 million investment in Pacific Community Ventures, a nationally recognized CDFI that supports Bay Area small businesses. Pacific Community Ventures will leverage this investment into a projected $5 million of loans to small businesses that will create more than 5,000 jobs with median wages of at least $17 per hour.
The Bank’s net income for the first quarter of 2018 was $81 million. On April 26, 2018, the Bank’s Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
FHLBank San Francisco is providing $9.5 million to fund matching grants for first-time homebuyers, with $8.9 million allocated to its 2018 WISH Program and $600,000 allocated to its 2018 IDEA Program. The grants will be delivered through 44 of the Bank’s member financial institutions to assist homebuyers in Arizona, California, Nevada, and other states where Bank members do business.
The Bank’s net income for 2017 was $376 million. On February 21, 2018, the Bank’s Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
The Federal Home Loan Bank of San Francisco has named Vice President Marietta Núñez Community Investment Officer. She succeeds Jim Yacenda, who retired February 2, 2018.
The Federal Home Loan Bank of San Francisco is pleased to announce the appointment of David Paull and Anne Wilson to its Affordable Housing Advisory Council (AHAC) and the reappointment of two current AHAC members, Stephen L. Hastings and Tunua Thrash-Ntuk.
The Board of Directors of the Federal Home Loan Bank of San Francisco has elected independent director John F. (Jack) Luikart as Chair and member director Brian M. Riley as Vice Chair.
The Quality Jobs Fund, which was created by the Federal Home Loan Bank of San Francisco and is led and managed by the New World Foundation, today provided its first investment – $5 million to the Central Valley Fund. The Davis-based investment firm provides flexible capital solutions that facilitate the expansion of small- and medium-sized businesses, creating quality jobs and training employees for better positions.
A recent study shows the significant ripple effect on local economies of the Bank's Affordable Housing Program, which extends far beyond the immediate production of quality affordable housing for low- and moderate-income individuals and families. The analysis shows $76.5 billion in economic activity linked to the Bank's AHP grants between 1990 and 2016.
The Board of Directors of FHLBank San Francisco has selected Jeffrey K. Ball to fill an upcoming vacancy on the board beginning January 1, 2018.
The Bank’s members re-elected John F. Luikart and John T. Wasley to nonmember independent director positions. The Bank’s California members also elected Marangal (Marito) Domingo and Joan C. Opp as California member directors.
The Bank's net income for the third quarter of 2017 was $81 million. On October 26, 2017, the Bank's Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
The Bank announced today that it has awarded $1.5 million in grants through its Access to Housing and Economic Assistance for Development (AHEAD) Program. The grants, which are made through the Bank’s member financial institutions, will be used by nonprofit organizations in Arizona, California, and Nevada to foster economic development and promote community stability and self-sufficiency.
The Bank’s net income for the second quarter of 2017 was $80 million. On July 27, 2017, the Bank’s Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
Rep. Dennis Ross (FL-15) and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) announced today that a $1.2 million Affordable Housing Program (AHP) grant has been awarded to help finance West Lake Apartments in Lakeland, Fla., project. In total, FHLBank San Francisco awarded $73.6 million through 20 Bank members in its 2017 funding competition to support 89 affordable housing projects in seven states served by the Bank’s member financial institutions.
In the 2017 funding competition, the Bank awarded $73.6 million in AHP grants through 20 members. The funds will support 89 projects that will create more than 6,200 units of affordable housing in seven states. Since 1990, the Bank has awarded more than $1 billion in grants to support affordable rental and homeownership opportunities for lower-income households.
The Bank's net income for the first quarter of 2017 was $148 million. On April 27, 2017, the Bank's Board of Directors declared a quarterly dividend at an annualized rate of 7.00%.
FHLBank San Francisco is providing $12.5 million to fund matching grants for first-time homebuyers, with $11.3 million allocated to its 2017 Workforce Initiative Subsidy for Homeownership (WISH) Program and $1.2 million allocated to its 2017 Individual Development and Empowerment Account (IDEA) Program.
The Board of Directors of the Federal Home Loan Bank of San Francisco has appointed Lisa Violet as Senior Vice President and Chief Risk Officer.
The Board of Directors of the Federal Home Loan Bank of San Francisco has appointed Jan Homan as Senior Vice President, Chief Human Resources Officer and Office of Minority and Women Inclusion.
The Board of Directors of the Federal Home Loan Bank of San Francisco has appointed Greg Ward as Senior Vice President and Director of Internal Audit.
The Bank’s net income for 2016 was $712 million. On February 21, 2017, the Bank’s Board of Directors declared a quarterly dividend of 9.08%.
The Bank is pleased to announce the appointment of Iosefa Alofaituli to its Affordable Housing Advisory Council and the reappointment of current members Laura Archuleta, Dora Leong Gallo, and Carol Ornelas. The 15-member AHAC provides the Bank with expert guidance on affordable housing and economic development issues and helps shape its community grant and credit programs.
Seven winners of Affordable Housing Finance magazine's 2016 Readers' Choice Awards competition for the nation's Best Affordable Housing Developments received Affordable Housing Program (AHP) grants from the Federal Home Loan Bank of San Francisco.
In the 2016 director election, the Bank’s members re-elected Robert F. Nielsen to a nonmember public interest independent director position, re-elected Melinda Guzman to a nonmember independent director position, and elected F. Daniel Siciliano to a new nonmember independent director position. California members also re-elected Richard A. Heldebrant and Simone Lagomarsino as California member directors.
The Bank’s net income for the third quarter of 2016 was $291 million. On October 27, 2016, the Bank’s Board of Directors declared a quarterly dividend of 8.94%.
The Bank awarded $1.5 million in grants through its Access to Housing and Economic Assistance for Development (AHEAD) Program. The grants, which are made through the Bank’s member financial institutions, will be used by nonprofit organizations in Arizona, California, and Nevada to foster economic development and promote community stability and self-sufficiency.
The Bank's net income for the second quarter of 2016 was $63 million. On July 28, 2016, the Bank’s Board of Directors declared a quarterly dividend of 9.17%.
Rep. Xavier Becerra (CA-34) and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) announced today that $7.8 million in Affordable Housing Program (AHP) grants have been awarded to help finance five Los Angeles housing projects.
Rep. Mike Thompson (CA-5) and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) announced today that $3.9 million in Affordable Housing Program (AHP) grants have been awarded to help finance five Napa County housing projects.
The grants were awarded through 19 Bank members to 85 projects that will help produce or preserve affordable homes for over 6,000 lower-income families and individuals.
The California Housing Finance Agency has been approved for $100 million in financing availability from the Federal Home Loan Bank of San Francisco. CalHFA will use its access to Bank credit to fund a portfolio of Fannie Mae and Ginnie Mae mortgage-backed securities composed of loans it has originated for low- to moderate-income homebuyers.
The Bank held a seminar in Oakland with local, regional, and national experts as part of its $40 million Quality Job Growth and Business Expansion Financing initiative.
The Bank held a seminar in Phoenix with local, regional, and national experts as part of its $40 million Quality Job Growth and Business Expansion Financing initiative. Phoenix Mayor Greg Stanton addressed the participants on wealth-building in underserved communities.
The Bank is pleased to announce that the Bank’s Affordable Housing Advisory Council has re-elected Ralph Lippman to an additional one-year term as chair and has elected Laura Archuleta as vice chair.
The Bank held a seminar in Sacramento to explore best practices for creating quality jobs and small business expansion in underserved West Coast communities as part of its $40 million initiative to support programs that use innovative strategies to enhance the income- and wealth-building potential of working families.
The Bank held a seminar in Los Angeles to explore best practices for creating quality jobs and small business expansion in underserved West Coast communities as part of its $40 million initiative to support programs that use innovative strategies to enhance the income- and wealth-building potential of working families. Rep. Maxine Waters (CA-43) addressed the participants on best practices for wealth-building.
The Bank's net income for the first quarter of 2016 was $231 million. On April 28, 2016, the Bank's Board of Directors declared a quarterly dividend of 8.90%.
The Federal Home Loan Bank of San Francisco's board of directors has named Greg Seibly President and Chief Executive Officer, effective May 12, 2016. He will succeed current President and Chief Executive Officer Dean Schultz, who previously announced his retirement.
The Bank allocated $9.4 million to its 2016 WISH Program and $2.6 million to its 2016 IDEA Program. Funding for the WISH and IDEA programs is set aside each year from the Bank’s annual Affordable Housing Program contribution, and matching grants of up to $15,000 are disbursed to eligible homebuyers through the cooperative’s members.
The Bank announced a $40 million initiative that will fund innovative programs to enhance the income and wealth-building potential of working families and help generate future homebuyers in underserved communities in Arizona, California, and Nevada. To help structure the initiative, the Bank is holding a series of roundtable discussions in Las Vegas, Phoenix, Sacramento, San Francisco, and Los Angeles.
The Bank's net income for 2015 was $638 million. On February 18, 2016, the Bank's Board of Directors declared a quarterly dividend of 7.99%.
The Bank is pleased to announce the following appointments to its Affordable Housing Advisory Council (AHAC): David Adame, Diana Yazzie Devine, and Elizabeth Moore. The Bank also reappointed four current members: Jasmine Borrego, Donald S. Falk, Dean Matsubayashi, and Douglas Shoemaker. The 15-member AHAC provides the Bank with expert guidance on affordable housing and economic development issues and helps shape its community grant and credit programs.
The Board of Directors of the Federal Home Loan Bank of San Francisco has elected member director Douglas H. (Tad) Lowrey as Chair and independent director Melinda Guzman as Vice Chair.
The Federal Home Loan Bank of San Francisco announced today the results of its 2015 director elections. The Bank’s members re-elected Kevin Murray to a nonmember independent director position. The Bank’s California members also re-elected Craig G. Blunden as a California member director. Mr. Blunden is Chairman and Chief Executive Officer of Provident Savings Bank, FSB, Riverside, California.
The Bank’s net income for the third quarter of 2015 was $46 million. On October 28, 2015, the Bank’s Board of Directors declared a quarterly dividend at an annualized rate of 8.79%.
The Bank awarded $1 million in AHEAD Program grants thorugh 25 Bank members to support 35 projects and programs that will foster economic development and promote stability and self-sufficiency in Arizona, California, and Nevada communities.
Incumbent member director Bradley W. Beal, President and CEO of One Nevada Credit Union, has been declared elected to a new four-year term on the Bank’s board beginning January 1, 2016.
The Bank's net income for the second quarter of 2015 was $61 million. On July 28, 2015, the Bank's Board of Directors declared a quarterly dividend at an annualized rate of 10.01%.
The 2015 grants were announced at the U.S. Conference of Mayors annual meeting in San Francisco. The AHP, which is celebrating its 25th anniversary this year, is a flexible source of gap funding for projects that create affordable housing for low-income and moderate-income families and individuals.
The Bank’s net income for the first quarter of 2015 was $474 million. On April 29, 2015, the Bank’s Board of Directors declared a quarterly dividend of 7.67%.
The Bank has allocated $9 million to its 2015 Workforce Initiative Subsidy for Homeownership (WISH) and Individual Development and Empowerment Account (IDEA) first-time homebuyer programs, with $7.1 million in WISH funds and $1.9 million in IDEA funds awarded to 28 member financial institutions to help low- to moderate-income families and individuals buy a home.
The Bank’s net income for 2014 was $205 million. On February 19, 2015, the Bank’s Board of Directors declared a quarterly dividend of 7.11%.
The Bank's Board of Directors named four new members to its Affordable Housing Advisory Council and reappointed two current members. The 15-member AHAC provides the Bank with expert guidance on affordable housing and economic development issues and helps shape its community grant and credit programs.
In the 2014 director elections, the Bank’s members re-elected Scott C. Syphax as a public interest nonmember independent director, the Bank’s Arizona members elected Brian M. Riley as an Arizona member director, and the Bank’s California members re-elected John F. Robinson as a California member director.
The Bank's net income for the third quarter of 2014 was $76 million, and the Bank's Board of Directors declared a quarterly dividend of 7.40%.
The Bank hosted a roundtable discussion on Gardena’s housing issues, which include increasing the supply of affordable housing for the city’s aging population. Rep. Maxine Waters (CA-43) was a special guest at the event.
Four of the eight winners of Affordable Housing Finance magazine's 2014 Readers' Choice Awards competition for the Best Affordable Housing Developments received AHP grants from the Bank. Four additional projects that also received funding from the Bank's AHP were among the 34 finalists selected by magazine readers.
The Bank awarded $1 million in AHEAD Program grants thorugh 23 Bank members to support 36 projects and programs that will foster economic development and promote stability and self-sufficiency in Arizona, California, and Nevada communities.
The Bank’s net income for the second quarter of 2014 was $39 million, and the Bank’s Board of Directors declared a quarterly dividend of 7.35%.
The Bank awarded $49.4 million in Affordable Housing Program (AHP) grants in the Bank’s 2014 AHP funding competition. The grants were awarded through 22 Bank members to 76 projects that will construct or rehabilitate 5,055 units of housing affordable to lower-income individuals and families in Arizona, California, Florida, Illinois, Nevada, Ohio, Pennsylvania, Texas, and Washington.
The Bank's Affordable Housing Advisory Council, which provides expert guidance on affordable housing and economic development issues and helps shape the Bank’s community investment grant programs and credit products, has elected a new chair, Ralph Lippman, and vice chair, Dean Matsubayashi.
The Bank's Board of Directors has selected Bradley W. Beal, President and Chief Executive Officer of One Nevada Credit Union, to fill the vacant Nevada member director position on the Bank’s Board of Directors, effective May 1, 2014. The position has a term ending December 31, 2015.
The Bank's net income for the first quarter of 2014 was $45 million, and the Bank's Board of Directors declared a quarterly dividend of 6.80%.
The Bank has allocated $9 million to its 2014 Workforce Initiative Subsidy for Homeownership (WISH) and Individual Development and Empowerment Account (IDEA) first-time homebuyer programs, with $7.4 million in WISH funds and $1.6 million in IDEA funds awarded to 25 member financial institutions to help low- to moderate-income families and individuals buy a home.
The Bank’s net income for 2013 was $308 million. On February 20, 2014, the Bank’s Board of Directors declared a quarterly dividend of 6.67%.
The Bank's Board of Directors is pleased to announce the appointment of Laura Archuleta, Dora Leong Gallo, and Carol Ornelas to its Affordable Housing Advisory Council.