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Business Wire
11 hours ago
- Business
- Business Wire
FHLBank Chicago Announces Q2 2025 Financial Highlights
CHICAGO--(BUSINESS WIRE)--The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced its preliminary and unaudited financial results for the second quarter of 2025. 'Our preliminary second quarter results reflect the continued strength of our cooperative and our ability to provide reliable liquidity to our members,' said Michael Ericson, President and Chief Executive Officer of FHLBank Chicago. 'Our preliminary second quarter results reflect the continued strength of our cooperative and our ability to provide reliable liquidity to our members,' said Michael Ericson, President and Chief Executive Officer of FHLBank Chicago. 'As market conditions evolve, we remain focused on delivering value through safe and sound financial management and strategic investments that support our members and the communities we serve.' Second Quarter 2025 Financial Highlights Net income declined to $151 million, compared to $158 million for the second quarter of 2024. The decline was primarily driven by higher noninterest expense, largely due to increased contributions to support members' housing and community development needs. This was partially offset by an increase in noninterest income from gains on trading securities. Total assets rose to $145.3 billion, up from $129.1 billion at December 31, 2024. The growth was mainly due to increased volume in advances and liquidity. Advances outstanding increased to $62.7 billion, compared to $55.8 billion at December 31, 2024, primarily attributable to increased borrowings from insurance company and depository members. Mortgage loans held for portfolio through the Mortgage Partnership Finance ® (MPF ®) Program increased to $13.9 billion, compared to $13.3 billion at December 31, 2024, primarily attributable to new acquisition volume that outpaced paydown activity. Housing and Community Development Statutory Affordable Housing Program (AHP) Assessments: FHLBank Chicago commits 10% of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by regulation. As of June 30, 2025, FHLBank Chicago accrued $34 million to its AHP pool of funds. Voluntary Housing and Community Development Contributions: In addition to its statutory AHP assessments, the Board of Directors may elect to make voluntary contributions to the AHP or other housing and community investment activities to increase funding available to our members. During the first half of 2025, FHLBank Chicago contributed $8 million toward community investment grants and $25 million in subsidies supporting its Community Advances and loans. For more financial details, please refer to the Condensed Statements of Income and Statements of Condition below. The Form 10-Q for the quarter ending June 30, 2025, is expected to be filed with the Securities and Exchange Commission (SEC) next month. Condensed Statements of Income (Dollars in millions) (Preliminary and Unaudited) Three months ended June 30, Six months ended June 30, 2025 2024 Change 2025 2024 Change Interest income $ 1,592 $ 1,758 (9 )% $ 3,080 $ 3,533 (13 )% Interest expense (1,355 ) (1,522 ) (11 )% (2,607 ) (3,050 ) (15 )% Net interest income 237 236 — % 473 483 (2 )% Reversal of (provision for) credit losses (3 ) (1 ) 200 % (2 ) (1 ) 100 % Net interest income after reversal of (provision for) credit losses 234 235 — % 471 482 (2 )% Noninterest income (loss) 22 17 29 % 41 41 — % Noninterest expense (89 ) (76 ) 17 % (169 ) (145 ) 17 % Income before assessments 167 176 (5 )% 343 378 (9 )% Affordable Housing Program assessment (16 ) (18 ) (11 )% (34 ) (38 ) (11 )% Net income $ 151 $ 158 (4 )% $ 309 $ 340 (9 )% Average interest-earning assets $ 136,345 $ 125,956 8 % $ 131,701 $ 126,808 4 % Net interest income yield on average interest-earning assets 0.70 % 0.75 % (0.05 )% 0.72 % 0.76 % (0.04 )% Expand About the Federal Home Loan Bank of Chicago FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members' customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit 'Mortgage Partnership Finance' and 'MPF' are registered trademarks of the Federal Home Loan Bank of Chicago. Forward-Looking Information: This announcement uses forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than statements of historical fact, including statements with respect to beliefs, plans, objectives, projections, estimates, or predictions. These statements are based on FHLBank Chicago's expectations as of the date hereof. The words 'believe', 'estimate', 'expect', 'preliminary', 'continue', 'remain', 'commit', and similar statements and their plural and negative forms are used to identify some, but not all, of such forward-looking statements. For example, statements about future dividends and expectations for financial commitments are forward-looking statements. FHLBank Chicago cautions that, by their nature, forward-looking statements involve risks and uncertainties, including, but not limited to: legislative and regulatory developments that affect FHLBank Chicago, its members, or counterparties; instability in the credit and debt markets; economic conditions (including banking industry developments and liquidity in the financial system); prolonged inflation or recession; maintaining compliance with regulatory and statutory requirements (including relating to dividend payments and retained earnings); any decrease in levels of business which may negatively impact results of operations or financial condition; the reliability of projections, assumptions, and models on future financial performance and condition; political, national and world events; changes in demand for advances or consolidated obligations; membership changes; changes in mortgage interest rates and prepayment speeds on mortgage assets; FHLBank Chicago's ability to execute its business model and pay future dividends (including enhanced dividends on activity stock); FHLBank Chicago's ability to protect the security of information systems and manage any failures, interruptions, or breaches in its technology, controls or operating processes; and the risk factors set forth in FHLBank Chicago's periodic filings with the Securities and Exchange Commission (SEC), which are available through the SEC's reporting website. FHLBank Chicago assumes no obligation to update any forward-looking statements made herein. In addition, the FHLBank Chicago reserves the right to change its business plan or plans for any programs for any reason, including but not limited to, legislative or regulatory changes, changes in membership or member usage of programs, or changes at the discretion of the board of directors. Accordingly, FHLBank Chicago cautions that actual results could differ materially from those expressed or implied in these forward-looking statements or could impact the extent to which a particular plan, objective, projection, estimate or prediction is realized. New factors may emerge, and it is not possible to predict the nature of each new factor or assess its potential impact. Given these uncertainties, undue reliance should not be placed on forward-looking statements.
The Standard
08-07-2025
- Business
- The Standard
Mandatory Provident Fund's first-half gains hit eight-year high
The average MPF account holder reportedly saw a paper profit of HK$24,213 between January and June. SING TAO
South China Morning Post
07-07-2025
- Business
- South China Morning Post
Hong Kong's MPF funds earn HK$24,100 per member in first half, research firm says
Hong Kong's Mandatory Provident Fund (MPF) achieved its third-best interim performance as a rally in Chinese stocks this year improved returns and helped lift total assets to the highest level since its inception in 2000. Managers overseeing 379 investment funds under the compulsory retirement scheme generated a combined HK$115 billion (US$14.6 billion) of income from January to June this year, according to MPF Ratings, an independent research firm. That was equivalent to HK$24,100 for each of the 4.8 million MPF members. The funds earned 8.9 per cent on average during the first half versus a 5.2 per cent return a year earlier, a result surpassed only by 10.4 per cent in 2019 and 9.9 per cent in 2017. MPF assets grew 10.6 per cent to HK$1.429 trillion as of June 30, aided also by new contributions from its members. 'The market rally was strong, as the effect of the US-China tariff war was not as bad as feared,' said Kenrick Chung, chief corporate solutions officer at Bay Insurance Brokers in Hong Kong. 'The US-China tariff war also led investors to shift from US assets to different markets, including China and other Asian markets.' Chung added that new listings in Hong Kong also provided great profit opportunities for MPF managers. Initial public offerings (IPOs) soared eightfold to US$13.5 billion in the first half, propelling Hong Kong's stock exchange to the top of the global rankings for the first time since 2019, according to data from the London Stock Exchange Group. Funds investing in Hong Kong and China stocks returned 18.5 per cent in the first half, the best among the fund types. Those focused on European equities earned 15.8 per cent, while balanced funds with global stocks and bonds delivered 13 per cent, according to MPF Ratings.
Malaysian Reserve
24-06-2025
- Business
- Malaysian Reserve
Monarch Athletic Club: A Longevity Clinic Disguised as an Athletic Club
LOS ANGELES, June 23, 2025 /PRNewswire/ — Monarch Athletic Club, the Los Angeles-based wellness disruptor delivering physician-led fitness, recovery, diagnostics, and personalized health optimization, including advanced bloodwork, biometric tracking, and leading-edge body composition analysis, has joined forces with Miroma Project Factory (MPF) to launch a new kind of digital experience, one that feels more like a luxury concierge for your future self than a website. After 18 months of under-the-radar development, MPF has unveiled a transformative digital roadmap for Monarch, reimagining how people begin their wellness journey long before they ever step inside a facility. This first phase of rollout, backed by Miroma Ventures, is laser-focused on personalization, longevity, and the business of proactive health. At the heart of the platform is the Monarch Health Index, an AI-powered pre-assessment tool that acts like a digital intake for your lifestyle. It invites potential members to answer a series of questions across mental wellness, physical fitness, nutrition, and sleep, instantly generating a visualized health snapshot and custom recommendations. Far from a gimmick, the Index feeds directly into Monarch's CRM, giving its sales and clinical teams rich data to personalize outreach and accelerate member acquisition. 'Most health spaces wait for you to have a health problem and walk in the door. Monarch starts your health journey online just as personally, and just as clinically. We're bringing together the science of preventive care with the immediacy of digital connection. MPF helped us turn that into a platform, not just a promise' said Dr. Ryan Greene, CEO of Monarch Athletic Club. This is not a glossy website for a boutique gym. It's the digital front door of a high-performance health brand that believes your biomarkers matter more than your bench press. Monarch offers holistic life support from nutrition, personal training, physical therapy, full-body composition scans, hormone optimization, recovery services, and physician-led programs rivaling the most exclusive longevity clinics, wrapped in a sleek, luxury wellness environment that members use on a near-daily basis. MPF led the brand and digital strategy end-to-end, integrating design, AI, infrastructure and user journey mapping as part of a broader three-year scale plan. This marks the beginning of a radical new health model, one that will soon be experienced remotely, at home, and with the premium support Monarch will be known for. MPF, which serves as the digital arm for Miroma Ventures, specializes in turning high-potential startups into scalable digital businesses. Through a distinctive equity-for-services model, MPF backs ambitious founders by delivering premium digital execution in exchange for skin in the game. 'We don't work with just anyone, we work with the brave,' said Kat Robinson, Global CEO of Miroma Project Factory. 'Monarch is a category creator. It doesn't need to compete with other athletic clubs because it's playing in a different league: the future of preventive medicine. Our job was to build a digital experience that lived up to that ambition and could scale into the advantageous progressive vision that Dr Ryan Greene has.' MPF is now scouting its next generation of disruptive partners, founders ready to scale, differentiate, and define what's next in health, wellness, and tech. About MPF MPF is a multi-award-winning digital strategy and product studio that delivers innovative digital solutions across web, platforms, and systems. Specializing in purposeful technology, MPF works at the intersection of strategy, design, and engineering to create impactful digital products for organizations ready to lead. With deep expertise in healthcare, MPF helps clients scale responsibly, communicate clearly, and connect meaningfully with their audiences. For more information, visit About Monarch Founded in Los Angeles, Monarch Athletic Club is a next-generation health and wellness facility that combines preventative medical care, performance training, and recovery services under one roof. With a physician-led team and an all-inclusive membership model, Monarch delivers science-backed, personalized care in a luxury environment. The club is redefining what it means to take ownership of long-term health, proactively, holistically, and sustainably. Learn more at For media inquiries, interviews, or partnership opportunities, please contact: Miroma Project Factoryinfo@ Monarch Athletic Clubinfo@
Malaysian Reserve
11-06-2025
- Health
- Malaysian Reserve
MPF Rebuilds and Reimagines My QuitBuddy as the Nation's Leading Digital Cessation Companion
SYDNEY, June 11, 2025 /PRNewswire/ — On World No Tobacco Day, Miroma Project Factory (MPF) launched the next evolution of My QuitBuddy, Australia's flagship smoking and vaping cessation app, commissioned by the Department of Health, Disability and Ageing. The My QuitBuddy app aims to help Australians kick the habit for good. Modernised, rebuilt, and ready to support a new generation of quitters, this multi-phase redevelopment is the most significant upgrade in the app's history. MPF has led the product redesign, technical delivery, and strategic roadmap across seven structured phases – replatforming, refreshing, and relaunching a vital public health tool for the digital age. 'The My QuitBuddy app has already helped more than 1 million Australians quit smoking and vaping since it was first released in 2012, and the new developments will make it even easier for people to kick the habit,' said Mark Butler, Minister for Health, Disability and Ageing. The upgraded app is part of a suite of measures the Australian Government has put in place to tackle the health scourge of tobacco and nicotine use, particularly to support priority populations such as young people to quit smoking and vaping.' Originally launched in 2012 to support a broad range of smokers, My QuitBuddy has evolved to address broader and more complex needs, including support for people who vape. The app features stronger motivational goal setting, badges and achievements, challenges for testing situations and a more intuitive user experience; all designed to make quitting feel more achievable – and more personal. MPF was first engaged in late 2023, to reimagine the journey to be smoke/vape free, initially to restore the Android version of My QuitBuddy. This was followed by five additional phases from stabilising the app and migrating to a new environment (Flutter), which laid the foundation for a modern, cross-platform foundation without altering core functionality. Launching today marks the most transformative release that MQB has gone through. A full reimagining of the app with multiple quit pathways, advanced tracking, enhanced gamified features, dynamic onboarding, and personalised messaging for a wide range of users. 'Every click, swipe, and prompt in My QuitBuddy 2.0 is grounded in behavioural science and backed by deep user insight,' said Kat Robinson, Global CEO of MPF. 'We're not just building a better-looking app, we're building a better quit journey for every Australian.' Built for Real Impact and Reach The updated My QuitBuddy app has been shaped by years of behavioural insights, user testing, and direct feedback from the quitting community. From cravings to milestones, every screen is designed to support users when it matters most – without judgment, pressure, or gimmicks. The result is a flexible, evidence-informed platform that encourages long-term behaviour change while generating meaningful insights into user engagement, relapse patterns, and help-seeking behaviours. These insights not only guide future improvements but also provide public health teams with a clearer understanding of how different quit strategies perform across priority populations, including young vapers, dual users, and those using NRT (Nicotine Replacement Therapy) as part of their quitting strategy. Whether users are quitting cold turkey, tapering off, or using NRT, My QuitBuddy now offers them tailored support, contextual encouragement, and real-time tools to track progress, celebrate wins, prove their resilience and recover from slips. Features include: Daily motivational messages and nudges, related to your personal circumstances Richer community features and reactions, with selected featured messages Challenges you can set for yourself Games and distractions to help with cravings or withdrawal symptoms Achievements and badges that recognise how far you have come The app's new pathway selections support complex quit journeys – including simultaneous smoking and vaping cessation or staggered approaches – ensuring each user receives a personal, adaptive experience from day one. MPF now turns their efforts to continual support, enhancement, and performance monitoring. My QuitBuddy is positioned to remain a world-class cessation tool – stable, scalable, and ready to adapt with evolving policy and public health needs. Backed by MPF's long-standing partnership with the Department of Health, Disability and Aging; My QuitBuddy is more than a support app – It is a model for meaningful digital health tools, practical, evidence-based, and deeply human. DOWNLOAD ANDROID HERE DOWNLOAD IOS HERE About My QuitBuddy My QuitBuddy is a free smoking and vaping cessation app funded by the Australian Government and developed by Miroma Project Factory. Since 2012, the app has supported millions of Australians on their quit journey. Now fully rebuilt with advanced personalisation, flexible quit pathways, and updated gamified elements, My QuitBuddy is one of the most comprehensive digital cessation tools available. About Miroma Project Factory (MPF) MPF is a multi-award-winning digital strategy and product studio that delivers innovative digital solutions across web, platforms, and systems. Specialising in purposeful technology, MPF works at the intersection of strategy, design, and engineering to create impactful digital products for organisations ready to lead. With deep expertise in healthcare, MPF helps clients scale responsibly, communicate clearly, and connect meaningfully with their audiences. For more information, read about My QuitBuddy here. Press Contact:Miroma Project Factoryinfo@
