Federal Home Loan Bank of Dallas

What Federal Home Loan Bank of Dallas does

The Federal Home Loan Bank of Dallas (FHLB Dallas) is a Congressionally chartered government-sponsored enterprise and member-owned cooperative, founded in 1932 as one of 11 district banks in the Federal Home Loan Bank System and headquartered in Irving, Texas. It provides advances (loans), letters of credit, and secondary mortgage market access through the Mortgage Partnership Finance (MPF) Program to approximately 780 member financial institutions — commercial banks, thrifts, credit unions, and insurance companies — across Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The bank's underlying technology stack centers on a secure member-facing portal (MyFHLB/SecureConnect) for advances origination, wire transfers, safekeeping, demand deposits, and collateral management, supplemented by automated back-office systems such as excess stock repurchase identification and late-day wire fee calculation. Members act as the exclusive distribution channel: FHLB Dallas does not serve consumers directly, but instead channels products and grants through members' branch networks to end customers.

FHLB Dallas generates revenue primarily through net interest income on its advances portfolio ($50.8B outstanding at December 31, 2025), interest on mortgage loans held in portfolio ($6.6B), and investment securities income from U.S. agency MBS and debentures (~$20B in available-for-sale holdings). Supplementary income comes from letter of credit fees and statutory Affordable Housing Program assessments (10% of net income). Capital returns to members are structured through Class B-1 (membership stock, 3.76% annualized dividend) and Class B-2 (activity-based stock, 4.76% annualized dividend) instruments. The bank also operates an extensive Community Investment division that distributed more than $134M across 2025 through the Affordable Housing Program ($73.5M, funding 3,700+ housing units across 53 projects), HELP, HAVEN, FORTIFIED Fund, Pathway Fund, Small Business Boost, Partnership Grant Program, and disaster recovery programs.

The cooperative structure underpins all commercial relationships: FHLB Dallas is regulated by the Federal Housing Finance Agency, supervised by an 18-member board including member and public directors, and reinvests earnings via retained earnings ($3.227B at year-end 2025) and dividends ($48.2M paid on December 23, 2025). Leadership includes President and CEO Sanjay K. Bhasin, EVP and Chief Banking and Digital Transformation Officer Gustavo Molina, SVP and Director of Community Investment Greg Hettrick, and VP of Corporate Communications Jaime Jordan, alongside chief risk, credit, audit, and administrative officers. The bank's strategic posture emphasizes mission-driven community investment expansion while the core wholesale advances business contracts against a higher-rate environment, with FY2025 net income of $582.6M (down 19.9% YoY) and Q1 2026 net income of $121.9M (down from $150.6M in Q1 2025).

Name

Federal Home Loan Bank of Dallas

Legal name

Federal Home Loan Bank of Dallas

Website

https://fhlb.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

251–500 employees

Short description

Federal Home Loan Bank of Dallas is a Congressionally chartered GSE and member-owned cooperative that provides advances, letters of credit, and secondary mortgage market access to approximately 780 financial institutions across Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

Ownership category

akta.pro rank

Product category

Wholesale Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Government-Sponsored Enterprises (GSEs) & Government Mortgage Liquidity Providers (FSALAKAC)

akta.pro secondary industry

Public Mortgage Insurance & Government Credit Guarantee Programs (FSALAKAD)

Keywords

• Wholesale banking services
• Housing finance cooperative
• Community development lending
• Mortgage secondary market
• Member credit products

Headquarters

HQ city

Irving

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest on Advances: FHLB Dallas provides advances (loans) to member institutions at competitive rates. Advances are the primary product, with $50.8 billion in advances outstanding at December 31, 2025. Interest income on advances constitutes the core revenue stream.
2. Interest on Mortgage Loans: The bank holds mortgage loans in portfolio, totaling $6.6 billion at December 31, 2025. Interest income from these mortgage loans generates revenue for the bank.
3. Investment Securities Income: Income from investment portfolio including U.S. agency residential mortgage-backed securities ($1.0 billion carrying value) and U.S. agency commercial MBS and debentures ($19.3 billion in available-for-sale portfolio).
4. Letter of Credit Fees: Fees generated from letters of credit issued to members for various purposes including collateral requirements and financial guarantees.
5. Affordable Housing Program (AHP) Assessment: Statutory assessment set aside for affordable housing programs. In 2025, the bank set aside $69.1 million for AHP ($64.8 million statutory + $4.3 million voluntary). The bank allocates at least 10% of income annually to AHP.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels10 records

Core offering

Federal Home Loan Bank of Dallas is a federally chartered, member-owned cooperative that provides competitively priced wholesale credit products—primarily collateralized advances (loans), standby letters of credit, and the Mortgage Partnership Finance (MPF) secondary mortgage market program—to approximately 780 member financial institutions in its five-state district. The bank also administers an extensive portfolio of community investment grant and loan programs (affordable housing, veteran assistance, disaster recovery, storm-resistant roofing, heirs' property resolution, and small business financing) that are distributed through those member institutions to end borrowers and communities.

Product overview

Federal Home Loan Bank of Dallas is a member-owned cooperative providing a comprehensive suite of banking products and community development programs. Core products include Advances (competitively priced loans for liquidity), Letters of Credit, and the Mortgage Partnership Finance (MPF) Program for secondary mortgage market access. Supporting services include Collateral, Demand Deposits, Wires, and Safekeeping. The bank operates an extensive Community Investment division offering grant programs including the Affordable Housing Program (AHP), Homebuyer Equity Leverage Partnership (HELP), Housing Assistance for Veterans (HAVEN), FHLB Dallas FORTIFIED Fund (storm-resistant roofing), Pathway Fund (heirs' property), Small Business Boost loans, Community Investment Program, Economic Development Program, Partnership Grant Program, Disaster Rebuilding Assistance, Special Needs Assistance Program (SNAP), and Native American Housing Opportunities (NAHO) Fund. All products and programs are delivered through approximately 780 member financial institutions, with a secure digital portal (MyFHLB/SecureConnect) for member transactions.

Differentiator

Problem solved

Functional benefit

Brands

• Mortgage Partnership Finance Program: Secondary mortgage market program allowing members to sell fixed-rate conforming mortgage loans

Products and services

• Advances Competitively priced collateralized loans that provide liquidity to member financial institutions for funding their lending activities, balance sheet structuring, affordable housing, and economic development. Advances outstanding totaled $50.8 billion as of December 31, 2025.
• Letters of Credit Standby letters of credit issued on behalf of member institutions to support their customers' financial obligations, including public fund deposits and contract payments.
• Mortgage Partnership Finance (MPF) Program Secondary mortgage market program enabling participating member financial institutions to sell certain fixed-rate, conforming mortgage loans into the secondary market via FHLB Dallas, providing members with conforming mortgage execution capacity.
• Collateral Services Collateral management services for credit and third-party pledges to support member borrowing and standby letter of credit issuance.
• Demand Deposits Demand deposit account services offered to member institutions for cash management and settlement.
• Wires Wire transfer services enabling members to move funds efficiently, including automated late-day incoming wire fee calculation.
• Safekeeping Securities safekeeping services for member institutions to hold and manage investment securities.
• Affordable Housing Program (AHP) General Fund Statutory grant program supporting construction or rehabilitation of affordable rental housing for low-income households, with up to $1.75 million per project. $73.5 million awarded in 2025, funding over 3,700 housing units across 53 projects.
• Homebuyer Equity Leverage Partnership (HELP) Grant program providing down payment and closing cost assistance to income-qualified first-time homebuyers, with up to $25,000 per homebuyer in Texas and New Mexico and up to $20,000 in Arkansas, Louisiana, and Mississippi. $17 million allocated for 2026.
• Housing Assistance for Veterans (HAVEN) Grant program providing home modifications, new construction, and down payment assistance to U.S. veterans, reservists, and active-duty service members with service-related disabilities and Gold Star Families, with up to $25,000 per household. $1 million allocated for 2026.
• FHLB Dallas FORTIFIED Fund Homeownership grant program providing storm-resistant roofs designed to withstand severe weather for eligible homeowners, with grants of up to $15,000 per homeowner. $10 million available in 2026.
• FHLB Dallas FORTIFIED Rental Program Grant program providing storm-resistant roofing for affordable multifamily rental properties owned by nonprofits and public housing authorities. $10 million available in 2026.
• Pathway Fund Grant program helping organizations prevent or address heirs' property issues that create clouded titles preventing families from selling, refinancing, or passing property to future generations. $3 million available in 2026, with $4.3 million awarded in 2025.
• Small Business Boost (SBB) Secondary unsecured loan program filling financing gaps for small businesses when members face collateral shortfalls or debt service challenges, with a portion of each recipient's loan payments recycled back into the program for relending. $4 million available in 2026.
• Community Investment Program (CIP) Favorably priced advances program enabling members to support affordable housing for homeowners and renters earning up to 115 percent of area median income at below-market rates.
• Economic Development Program (EDP) Favorably priced advances program enabling members to fund qualified economic and commercial development projects including small businesses, hospitals, and infrastructure at below-market rates.
• Partnership Grant Program (PGP) Matching grant program offering a 5:1 match of member contributions up to $25,000 per member to support community-based organizations in affordable housing or economic development. $1.5 million available for 2026.
• Disaster Rebuilding Assistance (DRA) Grant program for repair, rehabilitation, and reconstruction of owner-occupied housing affected by federally declared disasters. $3.5 million available in 2026.
• Special Needs Assistance Program (SNAP) Grant program funding home repairs or modifications for homeowners with occupants who are disabled, elderly, or have other special needs. $1.8 million available in 2026.
• Native American Housing Opportunities (NAHO) Fund Grant program supporting affordable housing initiatives by tribal housing entities across the five-state district. $1.5 million available in 2026.

Quantifiable outcome

• Distributed more than $134 million in community investment programs in 2025
• +5 more outcomes

Named customers19 records

Segments8 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

26 partnerships are on record, tiered core and minor.

• Bank OZKcoreChannel Partner/ Reseller/ DistributorBank OZK is a member institution of FHLB Dallas that distributes advances, letters of credit, and community investment programs including AHP grants to customers. FHLB Dallas provided $2 million AHP grant through Bank OZK for The Roz affordable housing development in Austin, Texas. Bank OZK has $40.8 billion in total assets and operates 268 offices across nine states.
• Wells FargocoreChannel Partner/ Reseller/ DistributorWells Fargo is a member institution distributing FHLB Dallas community investment programs including AHP grants for affordable housing development. FHLB Dallas provided $1.75 million AHP grant through Wells Fargo for Foundation Communities' Juniper Creek development in Austin, Texas.
• HomewisecoreChannel Partner/ Reseller/ DistributorHomewise is a member institution providing homeownership services including down payment assistance through FHLB Dallas HELP grants. Homewise helps families buy homes with low-cost financing, financial education, and grant assistance. FHLB Dallas provided $25,000 HELP grant through Homewise to help Ricky Corriz and family achieve homeownership in Santa Fe, New Mexico.
• Community Bank of MississippicoreChannel Partner/ Reseller/ DistributorCommunity Bank of Mississippi is a member institution with $5 billion in assets, 56 offices across four states, distributing Pathway Fund grants for heirs' property legal services. FHLB Dallas provided multiple $150,000 Pathway Fund grants through Community Bank to Mississippi legal aid organizations including North Mississippi Rural Legal Services, Mission First Inc., and Mississippi Center for Legal Services.
• FBT Bank & MortgagecoreChannel Partner/ Reseller/ DistributorFBT Bank & Mortgage is a full-service member bank established in 1931 with five locations, distributing HAVEN grants to veterans. FHLB Dallas provided $15,000 HAVEN grant through FBT Bank to Arkansas veteran Jeffery Darrough for home repairs.
• Simmons BankcoreChannel Partner/ Reseller/ DistributorSimmons Bank is a member institution that was honored with the 2026 CARE Award recognizing outstanding commitment to housing affordability and community revitalization using FHLB Dallas programs. Simmons was the first FHLB Dallas member in Arkansas to use the FORTIFIED Fund grant program for weather-resilient roofing.
• Hancock WhitneycoreChannel Partner/ Reseller/ DistributorHancock Whitney is a member institution allocating over $500,000 in grants with FHLB Dallas for Gulf Coast homeowners to rebuild after disasters with FORTIFIED roofs. Also partnered on $1.17 million AHP grant for The Purple Lemon transitional housing development in Patterson, Louisiana.
• Comerica BankcoreChannel Partner/ Reseller/ DistributorComerica Bank is a member institution that partnered with FHLB Dallas on $850,000 AHP grant for a new senior living community in Houston, Texas.
• Red River BankcoreChannel Partner/ Reseller/ DistributorRed River Bank celebrated delivering $12 million in grants over 25 years with FHLB Dallas for affordable housing, disaster recovery, and economic development in Louisiana.
• Texas Regional BankcoreChannel Partner/ Reseller/ DistributorTexas Regional Bank is a privately owned member institution with 37+ locations across Texas, facilitating $1.1 million AHP grant for transforming historic Hotel El Jardin into 44 affordable housing units in Brownsville, Texas.
• First National Bank TexascoreChannel Partner/ Reseller/ DistributorFirst National Bank Texas is a member institution distributing AHP grants for affordable housing development. FHLB Dallas provided $1 million AHP grant through First National Bank Texas for renovation of 40 single-family homes in Laguna, New Mexico for the Pueblo of Laguna community.
• First National Bank TexascoreChannel Partner/ Reseller/ DistributorFirst National Bank Texas distributed $22,000 grant to help a Central Texas veteran repair their roof and improve safety through the HAVEN program.
• Fuller Center for HousingminorChannel Partner/ Reseller/ DistributorFuller Center for Housing received $45,000 grant through FHLB Dallas Partnership Grant Program and four member banks for construction of 10 new homes in Bossier City, Louisiana as part of the organization's 20th Anniversary Legacy Build.
• Housing Education and Economic Development Inc. (HEED)minorChannel Partner/ Reseller/ DistributorHEED received $58,500 in grants from FHLB Dallas and five member banks to enhance affordable housing efforts in Mississippi, expanding housing counseling and organizational capacity.
• New Orleans Neighborhood Development FoundationminorChannel Partner/ Reseller/ DistributorNew Orleans Neighborhood Development Foundation received $60,000 grant from FHLB Dallas and member banks Home Bank, Liberty Bank & Trust, and Renasant Bank to support affordable housing initiatives and community development.
• Mississippi Center for Legal Services (MCLS)minorChannel Partner/ Reseller/ DistributorMCLS received $150,000 Pathway Fund grant to provide legal assistance to low-income residents dealing with heirs' property issues across 43 counties in southern Mississippi.
• North Mississippi Rural Legal Services (NMRLS)minorChannel Partner/ Reseller/ DistributorNMRLS received $150,000 Pathway Fund grant to help address homeownership title issues in 39 counties in northern Mississippi, providing civil legal representation to low-income homeowners.
• Mission First Inc.minorChannel Partner/ Reseller/ DistributorMission First Inc. received $150,000 Pathway Fund grant to expand legal aid services in Hinds, Madison and Rankin counties in Mississippi to help homeowners with heirs' property issues.
• Project Build a Future (PBAF)minorChannel Partner/ Reseller/ DistributorPBAF received $142,401 Pathway Fund grant through First Federal Bank of Louisiana to help families resolve heirs' property challenges and clear title issues in Calcasieu Parish, Louisiana.
• William A. Lawson Institute for Peace and Prosperity (WALIPP)minorChannel Partner/ Reseller/ DistributorWALIPP is developing WALIPP Senior Residences, a 102-unit affordable housing project for seniors in Houston, Texas, supported by $750,000 FHLB Dallas AHP grant.
• The Purple LemonminorChannel Partner/ Reseller/ DistributorThe Purple Lemon, a faith-based mission, received $1.17 million AHP grant to expand to 26 units of transitional housing for people recovering from addictions and homelessness in Patterson, Louisiana.
• Foundation CommunitiesminorChannel Partner/ Reseller/ DistributorFoundation Communities developed Juniper Creek, a 110-unit family supportive housing development in Austin, Texas, with $1.75 million AHP grant through Wells Fargo.
• Austin Housing Finance Corp.minorChannel Partner/ Reseller/ DistributorAustin Housing Finance Corp. developed The Roz, a 100-unit affordable apartment community for individuals transitioning out of homelessness in Austin, Texas with $2 million AHP grant through Bank OZK.
• Housing Authority of the City of BrownsvilleminorChannel Partner/ Reseller/ DistributorHousing Authority of the City of Brownsville (HACB) redeveloped historic Hotel El Jardin into 44 affordable housing units with $1.1 million AHP grant through Texas Regional Bank.
• SGI VenturesminorChannel Partner/ Reseller/ DistributorSGI Ventures co-developed The Roz, a 100-unit affordable apartment community in Austin, Texas, with Austin Housing Finance Corp. supported by $2 million FHLB Dallas AHP grant.
• Pueblo of LagunaminorChannel Partner/ Reseller/ DistributorPueblo of Laguna community benefited from $1 million AHP grant through First National Bank Texas for renovation of 40 single-family homes in Laguna, New Mexico.

Scale indicators17 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• CoBank: A cooperative Farm Credit System bank that, like FHLB Dallas, operates as a member-owned lender providing wholesale funding and credit products to affiliated institutions. Direct comparable in cooperative GSE-like structure and mission-driven lending.
• Federal Home Loan Bank of Cincinnati: FHLBank serving Kentucky, Ohio, and Tennessee with the same cooperative structure, advance products, and community programs. Direct comparable in business model, charter, and statutory mission.
• Federal Home Loan Bank of Chicago: FHLBank serving Illinois and Wisconsin under the same GSE cooperative model, offering advances, MPF, and community investment grants to member institutions. Highly comparable in product mix and member-driven distribution.
• AgriBank: Bank within the Farm Credit System that operates as a cooperative lender providing wholesale funding to affiliated associations. Comparable to FHLB Dallas in cooperative structure, member-owned governance, and wholesale credit mission.
• Federal Home Loan Bank of San Francisco: FHLBank serving Arizona, California, and Nevada. Like FHLB Dallas, it provides advances, MPF, and community investment programs (e.g., Affordable Housing Program) to member financial institutions under the same GSE charter and regulatory framework.
• Federal Home Loan Bank of Atlanta: One of the 11 Federal Home Loan Banks in the FHLBank System, serving member institutions in Alabama, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Virginia, and the District of Columbia. Operates the same cooperative model of advances, letters of credit, and community investment programs, making it the most structurally identical peer.

Broad incumbents

• Federal National Mortgage Association (Fannie Mae): U.S. GSE that purchases and securitizes mortgages, providing secondary market liquidity similar to FHLB Dallas's MPF Program. Comparable as a federally chartered housing GSE, though it operates a much larger and more capital-market-intensive model.
• Farmer Mac: Federally chartered GSE that provides secondary market financing for rural real estate and agricultural loans, comparable to FHLB Dallas in GSE status and mission-driven credit intermediation, though focused on agricultural lending.
• Federal Home Loan Mortgage Corporation (Freddie Mac): U.S. GSE focused on the secondary mortgage market, analogous to FHLB Dallas's MPF program. Comparable as a federally sponsored housing finance institution with a similar regulatory and mission-oriented mandate.
• Ginnie Mae: U.S. government corporation that guarantees mortgage-backed securities and supports affordable housing finance. Comparable as a federally sponsored housing credit institution with a similar mission to FHLB Dallas's housing and community development focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fhlbdallas
• YouTubeyoutube.com/user/FHLBDallas
• Facebookfacebook.com/fhlbdallas
• LinkedInlinkedin.com/company/federal-home-loan-bank-of-dallas

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments58 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Federal Home Loan Bank of Dallas