Dallas and Chicago Home Loan Banks Consider Merging

By: Associated Press
By: Associated Press

DALLAS (AP) - The Federal Home Loan Banks of Dallas and Chicago say they're considering merging their operations.

The banks are cooperatives owned by member financial institutions in their areas.

They're part of a national system of 12 banks that help provide funding for residential mortgages and community development.

The Federal Home Loan Bank of Dallas has assets of $53.3 billion and more than 900 member institutions in Texas, Arkansas, Louisiana, Mississippi and New Mexico.

The Federal Home Loan Bank of Chicago includes more than 850 institutions in Illinois and Wisconsin. It has assets of $87 billion.

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