0001564590-20-044402.txt : 20200923 0001564590-20-044402.hdr.sgml : 20200923 20200923164816 ACCESSION NUMBER: 0001564590-20-044402 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200923 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200923 DATE AS OF CHANGE: 20200923 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Federal Home Loan Bank of Topeka CENTRAL INDEX KEY: 0001325878 STANDARD INDUSTRIAL CLASSIFICATION: FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111] IRS NUMBER: 480561319 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52004 FILM NUMBER: 201192494 BUSINESS ADDRESS: STREET 1: 500 SW WANAMAKER ROAD STREET 2: PO BOX 176 CITY: TOPEKA STATE: KS ZIP: 66601-0176 BUSINESS PHONE: 785 233 0507 MAIL ADDRESS: STREET 1: 500 SW WANAMAKER ROAD STREET 2: PO BOX 176 CITY: TOPEKA STATE: KS ZIP: 66601-0176 8-K 1 ck0001325878-8k_20200923.htm 8-K 2020 THIRD QUARTER DIVIDEND ANNOUNCEMENT ck0001325878-8k_20200923.htm

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

 

 

Date of Report (Date of Earliest Event Reported):

 

September 23, 2020

Federal Home Loan Bank of Topeka

 

(Exact name of registrant as specified in its charter)

 

Federally Chartered Corporation

000-52004

48-0561319

 

 

 

 

 

 

 

 

 

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

  

 

 

500 SW Wanamaker Road, Topeka, Kansas

 

66606

 

 

 

 

 

 

 

(Address of principal executive offices)

 

(Zip Code)

 

 

 

Registrant’s telephone number, including area code:

 

785.233.0507

Not Applicable

 

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

 

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

None

N/A

N/A

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [  ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 


Top of the Form

 

Item 7.01 Regulation FD Disclosure.

On Sept. 23, 2020, FHLBank Topeka sent a message to its members announcing the declaration of a dividend for the quarter ending Sept. 30, 2020. A copy of the message is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information in this Current Report on Form 8-K is being furnished and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"). It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933 if such subsequent filing specifically references this Current Report on Form 8-K. In addition, the furnishing of information in this Current Report on Form 8-K is not intended to, and does not, constitute a determination or admission by the FHLBank that the information is material or complete.

 

Forward Looking Statements

The information contained in Exhibit 99.1 and incorporated herein contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements describing the objectives, projections, estimates or future predictions of FHLBank’s operations. These statements may be identified by the use of forward-looking terminology such as “may,” “could,” “expect,” “will,” “project,” “should” or their negatives or other variations on these terms. FHLBank cautions that by their nature forward-looking statements involve risk or uncertainty and that actual results may differ materially from those expressed in any forward-looking statements as a result of such risks and uncertainties, including but not limited to: changes in economic and market conditions, including conditions in our district and the U.S. and global economy, as well as the mortgage, housing, and capital markets; the impact of COVID-19 on our members and our business; governmental actions, including legislative, regulatory, judicial or other developments that affect FHLBank, its members, counterparties or investors, housing government-sponsored enterprises, or the FHLBank System in general; effects of derivative accounting treatment and other accounting rule requirements, or changes in such requirements; competitive forces, including competition for loan demand, purchases of mortgage loans and access to funding; the ability of FHLBank to introduce new products and services to meet market demand and to manage successfully the risks associated with all products and services; changes in demand for FHLBank products and services or consolidated obligations of the FHLBank System; membership changes, including changes resulting from member failures or mergers, changes due to member eligibility, or changes in the principal place of business of members; changes in the U.S. government's long-term debt rating and the long-term credit rating of the senior unsecured debt issues of the FHLBank System; soundness of other financial institutions, including FHLBank members, non-member borrowers, counterparties and the other FHLBanks; the ability of each of the other FHLBanks to repay the principal and interest on consolidated obligations for which it is the primary obligor and with respect to which FHLBank has joint and several liability; the volume and quality of eligible mortgage loans originated and sold by participating members to FHLBank through its various mortgage finance products; changes in the fair value and economic value of, impairment of, and risks associated with FHLBank’s investments in mortgage loans and mortgage-backed securities or other assets and the related credit enhancement protections; changes in the value or liquidity of collateral underlying advances to FHLBank members or nonmember borrowers or collateral pledged by reverse repurchase and derivative counterparties; volatility of market prices, changes in interest rates and indices and the timing and volume of market activity; gains/losses on derivatives or on trading investments and the ability to enter into effective derivative instruments on acceptable terms; the effects of amortization/accretion; upcoming discontinuance of the London Interbank Offered Rate (LIBOR) and the related effect on FHLBank's LIBOR-based financial products, investments, and contracts; changes in FHLBank's capital structure; our ability to declare dividends or to pay dividends at rates consistent with past practices; and the ability of FHLBank to keep pace with technological changes and the ability to develop and support technology and information systems, including the ability to securely access the internet and internet-based systems and services, sufficient to effectively manage the risks of FHLBank's business. Additional risks that might cause FHLBank’s results to differ from these forward-looking statements are provided in detail in FHLBank’s filings with the SEC, which are available at www.sec.gov.

 

All forward-looking statements contained in Exhibit 99.1 and incorporated herein are expressly qualified in their entirety by this cautionary notice. The reader should not place undue reliance on such forward-looking statements, since the statements speak only as of the date that they are made and FHLBank has no obligation and does not undertake publicly to update, revise or correct any forward-looking statement for any reason.

 

 

 

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Message to FHLBank members dated Sept. 23, 2020, announcing dividend declaration for the quarter ending Sept. 30, 2020.

__________________



 

Top of the Form 

 

Exhibit Index  

 

 

Exhibit No. 

  

Description 

 

 

 

99.1 

  

Message to FHLBank members dated Sept. 23, 2020, announcing dividend declaration for the quarter ending Sept. 30, 2020.

 

 

 


Top of the Form

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Federal Home Loan Bank of Topeka

  

 

 

 

 

Sept. 23, 2020

 

By:

 

/s/ Denise L. Cauthon

 

 

 

 

 

 

 

 

 

Name: Denise L. Cauthon

 

 

 

 

Title: Senior Vice President and Chief Accounting Officer

 

 

EX-99.1 2 ck0001325878-ex991_6.htm EX-99.1 MESSAGE TO FHLBANK MEMBERS DATED SEPT. 23, 2020, ANNOUNCING DIVIDEND DECLARATION FOR THE QUARTER ENDING SEPT. 30, 2020. ck0001325878-ex991_6.htm

 

FHLBank Topeka Declares Third Quarter Dividends

September 23, 2020

 

The board of directors approved the following third quarter dividends for both the membership capital stock (Class A) and activity-based capital stock (Class B) at its September 23, 2020, meeting: 

 

 

Class A Common Stock: 0.25 percent (per annum) 

 

Class B Common Stock: 5.25 percent (per annum) 


“The dividend rates are down slightly from last quarter but the Class B dividend continues to provide an extremely attractive return relative to other investment options and effectively lowers our members’ borrowing cost on advances and enhances the income generated through their Mortgage Partnership Finance® (MPF®) loan sales,” said Mark Yardley, president and CEO of FHLBank Topeka. “The Class A dividend is still 15 basis points above Interest on Excess Reserves and overnight Federal funds.”
 

Please contact the Lending Desk or your regional account manager: (1) if you have any questions on the positive impact of the above-market Class B dividend on FHLBank advance rates and MPF loan sales; or (2) for information on comparing the all-in cost of advances to various deposit pricing strategies and purchased deposit funding options.
 

We currently expect to pay similar dividend rates for the fourth quarter of 2020. Please keep in mind that market conditions can be unpredictable and adverse changes in FHLBank’s financial results from such changes may result in lower dividend rates in future quarters than we currently expect to pay.
 

The dividends on both classes of stock are payable in the form of Class B Common Stock and will be credited to your institution’s capital stock account at the close of business on September 30, 2020. Any partial shares will be paid in cash and credited to your institution’s demand deposit account on that date as well.
 
If you have any questions related to the dividend, please contact the Lending Desk at 800.809.2733. 

 

“Mortgage Partnership Finance” and “MPF” are registered trademarks of the Federal Home Loan Bank of Chicago.


The information contained in this announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements describing the objectives, projections, estimates or future predictions of FHLBank’s operations. These statements may be identified by the use of forward-looking terminology such as “may,” “expect,” “will,” “project,” “should” or their negatives or other variations on these terms. FHLBank cautions that by their nature forward-looking statements involve risk or uncertainty and that actual results may differ materially from those expressed in any forward-looking statements as a result of such risks and uncertainties, including but not limited to: changes in economic and market conditions, including conditions in our district and the U.S. and global economy, as well as the mortgage, housing, and capital markets; the impact of COVID-19 on our members and our business; governmental actions, including legislative, regulatory, judicial or other developments that affect FHLBank, its members, counterparties or investors, housing government-sponsored enterprises, or the FHLBank System in general; effects

 

 

 


 

of derivative accounting treatment and other accounting rule requirements, or changes in such requirements; competitive forces, including competition for loan demand, purchases of mortgage loans and access to funding; the ability of FHLBank to introduce new products and services to meet market demand and to manage successfully the risks associated with all products and services; changes in demand for FHLBank products and services or consolidated obligations of the FHLBank System; membership changes, including changes resulting from member failures or mergers, changes due to member eligibility, or changes in the principal place of business of members; changes in the U.S. government's long-term debt rating and the long-term credit rating of the senior unsecured debt issues of the FHLBank System; soundness of other financial institutions, including FHLBank members, non-member borrowers, counterparties and the other FHLBanks; the ability of each of the other FHLBanks to repay the principal and interest on consolidated obligations for which it is the primary obligor and with respect to which FHLBank has joint and several liability; the volume and quality of eligible mortgage loans originated and sold by participating members to FHLBank through its various mortgage finance products; changes in the fair value and economic value of, impairment of, and risks associated with FHLBank’s investments in mortgage loans and mortgage-backed securities or other assets and the related credit enhancement protections; changes in the value or liquidity of collateral underlying advances to FHLBank members or nonmember borrowers or collateral pledged by reverse repurchase and derivative counterparties; volatility of market prices, changes in interest rates and indices and the timing and volume of market activity; gains/losses on derivatives or on trading investments and the ability to enter into effective derivative instruments on acceptable terms; the effects of amortization/accretion; upcoming discontinuance of the London Interbank Offered Rate (LIBOR) and the related effect on FHLBank's LIBOR-based financial products, investments, and contracts; changes in FHLBank's capital structure; our ability to declare dividends or to pay dividends at rates consistent with past practices; and the ability of FHLBank to keep pace with technological changes and the ability to develop and support technology and information systems, including the ability to securely access the internet and internet-based systems and services, sufficient to effectively manage the risks of FHLBank's business. Additional risks that might cause FHLBank’s results to differ from these forward-looking statements are provided in detail in FHLBank’s filings with the SEC, which are available at www.sec.gov.
 

All forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary notice. The reader should not place undue reliance on such forward-looking statements, since the statements speak only as of the date that they are made and FHLBank has no obligation and does not undertake publicly to update, revise or correct any forward-looking statement for any reason