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Federal Home Loan Bank of Pittsburgh earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026
Q3 2026 Revenue up 26% year over year to $188M · 72¢ of every $1 of revenue kept as net profit · operating margin 79.7%
Federal Home Loan Bank of Pittsburgh made $188M in Q3 2026 (+26% Y/Y): Net interest income $163M, Noninterest income $24.7M. Operating margin 79.7%, net earnings $135M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
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What changed this quarter
Revenue was $187.9M in Q3 2026, up 26% year over year and up 21% from the previous quarter. Net interest income was the largest line at 87% of revenue. Noninterest income added $20.8M year over year (up 542%), 53% of the total change.
Operating profit was $149.7M, a 79.7% margin (up 7.2 points year over year). Of the extra revenue versus a year earlier, 107% reached operating profit, above the 73% margin then. Total costs fell 7% while revenue rose 26%. The fastest-growing cost line was Credit loss provision (+401%). Net earnings were $134.7M, up 39% year over year. The effective tax rate was 10.0%.
Operating cash flow was $612.9M (up 1199% year over year), 455% of net earnings. Non-cash charges added back $65.1M of depreciation and amortization. Working capital and other items added $413.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $188M | +26% | 79.7% | $135M | $613M |
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About Federal Home Loan Bank of Pittsburgh
The Federal Home Loan Bank of Pittsburgh (the Bank) ’s mission is to provide its members with readily available liquidity, including serving as a low-cost source of funds for housing and community development. The Bank strives to enhance the availability of credit for residential mortgages and targeted community development. The Bank manages its liquidity so that funds are available to meet members’ demand for advances (loans to members and eligible nonmember housing associates). By providing needed liquidity and enhancing competition in the mortgage market, the Bank’s lending programs benefit homebuyers and communities. For additional information regarding the Bank’s financial condition and financial statements, refer to Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8.
In its own words, from its 10-K, filed Mar 4, 2026.
Federal Home Loan Bank of Pittsburgh against its Federal & Federally-Sponsored Credit Agencies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +19%. Operating margin: 79.7% against the peers' median 66.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Federal Home Loan Bank of Pittsburgh | Q3 2026 | $188M | +26% | 79.7% |
| FNMA Federal National Mortgage Association Fannie Mae | Q3 2026 | $7.7B | +5% | 66.8% |
| FMCC Federal Home Loan Mortgage | Q3 2026 | $6.8B | +19% | 59.0% |
| Federal Home Loan Bank of New York | Q3 2026 | $242M | -0.8% | 72.4% |
| AGM Federal Agricultural Mortgage | Q3 2026 | $125M | +20% | 63.5% |
Source: Federal Home Loan Bank of Pittsburgh 10-Q on SEC EDGAR · CIK 1330399 · Federal & Federally-Sponsored Credit Agencies