|
|
 |
February 20, 2008
Dear Seattle Bank Members,
The Seattle Bank’s Board of Directors, management, and staff are pleased to inform you that the Seattle Bank’s fourth-quarter 2007 dividends, announced on February 4, 2008, will be paid on Friday, February 22.
The Seattle Bank will pay $5.6 million, or $.25 per share, on an average of approximately 22.2 million shares of Class B stock outstanding during the fourth quarter of 2007 and $3.0 million, or $1.14 per share, on an average of approximately 2.7 million shares of Class A stock outstanding during the fourth quarter of 2007.
Dividends will be paid, in cash, based upon your institution’s average stock outstanding during the fourth quarter of 2007, and reflected in our Customer Account Activity system on February 22.
Please contact our Member Services team at 800.426.7538 with any questions you may have regarding your dividend payments.
Sincerely,
Richard M. Riccobono
President and Chief Executive Officer
This Member News includes forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties. Actual performance and future bank actions, including the payment of dividends, may differ materially from projections because of many factors. Such factors may include, but are not limited to, business and capital management plan adjustments and amendments, changes in the bank's management and Board of Directors, regulatory actions or approvals, competitive pressure from other Federal Home Loan Banks and alternative funding sources, accounting adjustments or requirements, interest-rate volatility, the bank's ability to maintain adequate capital levels, changes in projected business volumes, our ability to appropriately manage our cost of funds, changes in our membership profile or the withdrawal of one or more large members, the cost-effectiveness of our funding, hedging and asset-liability management activities, shifts in demand for our products and consolidated obligations, and general economic conditions. Additional factors are discussed in the Seattle Bank's unaudited financial statements and related condensed footnotes and Management’s Discussion and Analysis in the bank’s Form 10-Q for third quarter 2007 and the audited 2006 financial statements and related footnotes and other disclosures in the bank’s Form 10-K for the year ended December 31, 2006. The Seattle Bank does not undertake to update any forward-looking statements made in this announcement.
|