SEATTLE - The Federal Home Loan Bank of Seattle reported net income of $61.7 million for the quarter ended June 30, compared with $21.5 million for the same period in 1992.

Prepayment fees accounted for the sharp rise in income, the bank said Thursday. Net income adjusted for prepayments totaled $38 million in the second quarter, up 73% from the $22 million net of the 1992 period.

The bank, which has $12.2 billion in assets, paid an annualized stock dividend of 15.28% for the quarter, up from 10.25% for the second quarter of last year.

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