# EDGAR Filing Document

**Accession Number:** 0001331463
**File Stem:** 0001331463-26-000079
**Filing Date:** 2026-4
**Character Count:** 20423
**Document Hash:** 511a24ea8c1898329c90121a780b238f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001331463-26-000079.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001331463-26-000079

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260424

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federal Home Loan Bank of Boston
- **CENTRAL INDEX KEY:** 0001331463
- **STANDARD INDUSTRIAL CLASSIFICATION:** FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 046002575
- **STATE OF INCORPORATION:** X1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-51402
- **FILM NUMBER:** 26891670

**BUSINESS ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-292-9600

**MAIL ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

?xml version='1.0' encoding='ASCII'? fhlbbost-20260424

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 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) April 24, 2026** 

**FEDERAL HOME LOAN BANK OF BOSTON** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Federally chartered corporation of the United States** | **000-51402** | **04-6002575** |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

**800 Boylston Street** 

**Boston, MA 02199** 

**(Address of principal executive offices, including zip code)**

**(617) 292-9600** 

**(Registrant's telephone number, including area code)** 

**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 (see General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;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 <br>   

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. ☐

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**Item 2.02 Results of Operations and Financial Condition.**

On April 24, 2026, the Federal Home Loan Bank of Boston (the "Bank") issued a press release announcing its preliminary, unaudited results for the quarter ended March 31, 2026, and the declaration of a dividend. The Bank's board of directors declared a cash dividend equal to an annual yield of 6.71 percent, the approximate daily average SOFR yield for the first quarter of 2026 plus 300 basis points. The dividend, based on average stock outstanding for the first quarter of 2026, will be paid on May 4, 2026. The press release, which should be reviewed for further details on each of these developments, is furnished herewith as Exhibit 99.1 to this report.

\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*

The information being furnished in this Item and contained in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

This report, including Exhibit 99.1, uses forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank's plans, objectives, projections, estimates, or predictions. These statements are based on the Bank's expectations as of the date hereof. The words "preliminary", "expects", "anticipates", "will", and similar statements and their plural and negative forms are used in this notification to identify some, but not all, of such forward-looking statements. For example, statements about future declarations of dividends and expectations for advances balances, mortgage-loan investments, and net income are forward-looking statements, among other forward-looking statements herein. The Bank cautions that, by their nature, forward-looking statements involve risks and uncertainties, including, but not limited to, the application of accounting standards relating to, among other things, the amortization and accretion of premiums and discounts on financial assets, financial liabilities, and certain fair value gains and losses; changes and volatility of such changes in interest rates, market prices, and indices; hedge accounting of derivatives and underlying financial instruments; the fair values of financial instruments, including investment securities and derivatives; the allowance for credit losses on investment securities and mortgage loans; instability in the credit and debt markets; economic conditions; changes in demand for advances or consolidated obligations of the Bank or the Federal Home Loan Bank system; the Bank's ability to execute its business model and pay future dividends; and prepayment speeds on mortgage assets. In addition, the Bank reserves the right to change its plans for any programs for any reason, including but not limited to, legislative or regulatory changes, changes in membership, or changes at the discretion of the board of directors. Accordingly, the Bank 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, and you are cautioned not to place undue reliance on such statements. The Bank does not undertake to update any forward-looking statement herein or that may be made from time to time on behalf of the Bank.

**Item 9.01 Financial Statements and Exhibits**

(d) Exhibits.

Exhibit Number

99.1 <u>[Press release issued by the Bank on April 24, 2026 (this Exhibit 99.1 is furnished, not filed)](ex991-firstquarter2026earn.htm)</u>

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104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document

**Signature(s)**

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.

---

| | | |
|:---|:---|:---|
| Date: | April 24, 2026 | **Federal Home Loan Bank of Boston** |
|  |  | <u>By:/s/ Frank Nitkiewicz</u> |
|  |  | Frank Nitkiewicz |
|  |  | Executive Vice President, Chief Operating Officer and Chief Financial Officer |

---

## Exhibit 99.1

![logoa02.gif](logoa02.gif)

---

| | |
|:---|:---|
| | **NEWS RELEASE** |
| FOR IMMEDIATE RELEASE | |

---

**FEDERAL HOME LOAN BANK OF BOSTON ANNOUNCES 2026**

**FIRST QUARTER RESULTS, DECLARES DIVIDEND**

BOSTON (April 24, 2026) - The Federal Home Loan Bank of Boston announced its preliminary, unaudited first quarter financial results for 2026, reporting net income of $44.3 million for the quarter. The Bank expects to file its quarterly report on Form 10-Q for the quarter ending March 31, 2026, with the U.S. Securities and Exchange Commission next month.

"The Bank's consistent financial performance continues to support liquidity and funding solutions and facilitates our ongoing commitment to offer housing and community investment programs to our financial institution members. We are proud to serve as a crucial source of liquidity in all environments so our members can strengthen the communities they serve," said President and CEO Timothy J. Barrett.

**First Quarter 2026 Operating Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income was $44.3 million for the three months ended March 31, 2026, a decrease from $57.0 million for the first quarter of 2025 primarily due to a decrease in net interest income and other income and a faster initial pace of spending on discretionary housing and community investment programs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest income was $85.7 million in the first quarter of 2026, compared to $92.8 million for the first quarter of 2025, primarily driven by significantly lower short-term interest rates, an $8.3 billion decline in average advances, and a $160.8 million decline in average capital.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest spread was 0.28% during the first quarter of 2026, an increase of six basis points from the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A total of $8.9 million was set aside for the Affordable Housing Program, which includes a $4.9 million statutory assessment and a $4.0 million voluntary contribution during the quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• $6.6 million was contributed to the Bank's discretionary housing and community investment programs.

**March 31, 2026 Financial Condition Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total assets increased to $71.4 billion at March 31, 2026, up from $68.8 billion at year-end 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advances totaled $40.5 billion at the end of the quarter, an increase from $38.8 billion at the end of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total capital was $3.9 billion, an increase from $3.8 billion at year-end 2025, primarily attributable to the increase in advances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• As of March 31, 2026, the Bank was in compliance with all regulatory capital ratios.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Bank is classified as "adequately capitalized" by its regulator, based on the most recent information available as of December 31, 2025.

**Dividend:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A dividend equal to an annual yield of 6.71% was declared by the Bank's board of directors. The dividend, based on average stock outstanding for the first quarter of 2026, will be paid on May 4, 2026. Future dividend declarations remain at the discretion of the board of directors.

------

**About the Bank**

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

---

| |
|:---|
| Contact: |
| Adam Coldwell |
| 617-292-9774 |
| adam.coldwell@fhlbboston.com |

---

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**Federal Home Loan Bank of Boston**

**Balance Sheet Highlights**

(Dollars in thousands)

(Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| | **3/31/2026** | **12/31/2025** | **3/31/2025** |
| **ASSETS** | | | |
| Cash and due from banks | $25930 | $1184 | $26697 |
| Advances | 40516560 | 38762563 | 45427914 |
| Investments <sup>(1)</sup> | 25989186 | 25206343 | 26965568 |
| Mortgage loans held for portfolio, net | 4362657 | 4285722 | 3765267 |
| Other assets | 524016 | 556837 | 608712 |
| Total assets | $71418349 | $68812649 | $76794158 |
| **LIABILITIES** |  |  |  |
| Consolidated obligations, net | $66224263 | $63625913 | $71504332 |
| Deposits | 874209 | 915299 | 810253 |
| Other liabilities | 461751 | 492098 | 558683 |
| **CAPITAL** |  |  |  |
| Class B capital stock | 2019932 | 1936610 | 2207384 |
| Retained earnings - unrestricted | 1423025 | 1421472 | 1407846 |
| Retained earnings - restricted <sup>(2)</sup> | 563425 | 554561 | 520643 |
| Total retained earnings | 1986450 | 1976033 | 1928489 |
| Accumulated other comprehensive loss | (148256) | (133304) | (214983) |
| Total capital | 3858126 | 3779339 | 3920890 |
| Total liabilities and capital | $71418349 | $68812649 | $76794158 |
| Total regulatory capital-to-assets ratio <sup>(3)</sup> | 5.6% | 5.7% | 5.4% |
| Ratio of market value of equity (MVE) to par value of capital stock <sup>(4)</sup> | 185% | 188% | 170% |

---

**Income Statement Highlights**

(Dollars in thousands)

(Unaudited)

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| | | | |
|:---|:---|:---|:---|
| | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
| | **3/31/2026** | **12/31/2025** | **3/31/2025** |
| Total interest income | $687447 | $752740 | $860791 |
| Total interest expense | 601701 | 667166 | 768002 |
| Net interest income | 85746 | 85574 | 92789 |
| Other income | 238 | 5272 | 3902 |
| Operating expense | 21900 | 23346 | 20478 |
| Federal Housing Finance Agency and Office of Finance | 2582 | 3120 | 2789 |
| AHP voluntary contribution | 3962 | 30 | 4434 |
| Discretionary housing and community investment programs <sup>(5)</sup> | 6569 | 276 | 4817 |
| Other expense | 1717 | 1195 | 840 |
| AHP assessment | 4935 | 6295 | 6342 |
| Net income | $44319 | $56584 | $56991 |
| **Performance Ratios:** <sup>(6)</sup> |  |  |  |
| Return on average assets | 0.26% | 0.32% | 0.30% |
| Return on average equity <sup>(7)</sup> | 4.77% | 6.08% | 5.88% |
| Net interest spread | 0.28% | 0.24% | 0.22% |
| Net interest margin | 0.51% | 0.49% | 0.49% |

---

------

<sup>(1)</sup> &nbsp;&nbsp;&nbsp;&nbsp;Investments include available-for-sale securities, held-to-maturity securities, trading securities, interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold.

<sup>(2)</sup> &nbsp;&nbsp;&nbsp;&nbsp;The Bank's capital plan and a joint capital enhancement agreement among all Federal Home Loan Banks require the Bank to allocate a certain amount, generally not less than 20% of each of quarterly net income and adjustments to prior net income, to a restricted retained earnings account until a total required allocation is met. Amounts in the restricted retained earnings account are unavailable to be paid as dividends, which may be paid from current net income and unrestricted retained earnings. For additional information, see Item 5 — Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities in the Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 13, 2026 (the 2025 Annual Report).

<sup>(3)</sup> &nbsp;&nbsp;&nbsp;&nbsp;For additional information on the Bank's capital requirements, see Item 7 — Management's Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Capital in the 2025 Annual Report.

<sup>(4)&nbsp;&nbsp;&nbsp;&nbsp;</sup>MVE equals the difference between the theoretical market value of assets and the theoretical market value of liabilities, and the ratio of MVE to par value of Bank capital stock can be an indicator of future net income to the extent that it demonstrates the impact of prior interest-rate movements on the capacity of the current balance sheet to generate net interest income. However, this ratio does not always provide an accurate indication of future net income. Accordingly, investors should not place undue reliance on this ratio and are encouraged to read the Bank's discussion of MVE, including discussion of the limitations of MVE as a metric, in Item 7A — Quantitative and Qualitative Disclosures About Market Risk — Measurement of Market and Interest Rate Risk in the 2025 Annual Report.

<sup>(5)</sup> &nbsp;&nbsp;&nbsp;&nbsp;We have certain discretionary subsidized advance and grant programs, including our Jobs for New England, Housing Our Workforce, Lift Up Homeownership, CDFI Advance, and permanent rate buydown programs. For additional information see Item 1 — Business — Targeted Housing and Community Investment Programs in the 2025 Annual Report.

<sup>(6)</sup> &nbsp;&nbsp;&nbsp;&nbsp;Yields for quarterly periods are annualized.

<sup>(7)</sup> &nbsp;&nbsp;&nbsp;&nbsp;Return on average equity is net income divided by the total of the average daily balance of outstanding Class B capital stock, accumulated other comprehensive loss, and total retained earnings.

\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*

**Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995**

This release, including the unaudited balance sheet highlights and income statement highlights, uses forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank's plans, objectives, projections, estimates, or predictions. These statements are based on the Bank's expectations as of the date hereof. The words "preliminary," "expects," "anticipates," "will," and similar statements and their plural and negative forms are used in this notification to identify some, but not all, of such forward-looking statements. For example, statements about future declarations of dividends and expectations for advances balances, mortgage-loan investments, and net income are forward-looking statements, among other forward-looking statements herein.

The Bank cautions that, by their nature, forward-looking statements involve risks and uncertainties, including, but not limited to, the application of accounting standards relating to, among other things, the amortization and accretion of premiums and discounts on financial assets, financial liabilities, and certain fair value gains and losses; changes and volatility of such changes in interest rates, market prices, and indices; hedge accounting of derivatives and underlying financial instruments; the fair values of financial instruments; the allowance for credit losses on investment securities and mortgage loans; instability in the credit and debt markets; economic conditions; changes in demand for advances or consolidated obligations of the Bank or the Federal Home Loan Bank system; the Bank's ability to execute its business model and pay future dividends; and prepayment speeds on mortgage assets. In addition, the Bank reserves the right to change its plans for any programs for any reason, including but not limited to, legislative or regulatory changes, changes in membership, or changes at the discretion of the board of directors. Accordingly, the Bank 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, and you are cautioned not to place undue reliance on such statements. The Bank does not undertake to update any forward-looking statement herein or that may be made from time to time on behalf of the Bank.

###

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