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Federal Home Loan Bank net income rises 1.7 percent

| Saturday, Aug. 9, 2008

The Federal Home Loan Bank of Pittsburgh said net income rose 1.7 percent to $53 million, or $1.31 a share, for the second quarter.

Results enabled the wholesale lender to set aside $5.9 million for affordable housing programs in 2009, vs. $5.8 million this year.

Total assets stood at $98.6 billion as of June 30.

The Pittsburgh bank is one of the nation's 13 home loan banks, with 333 member institutions in Pennsylvania, Delaware and West Virginia.

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