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FHLB of Indianapolis Repurchases Excess Stock

 

Jan 25 - The Federal Home Loan Bank of Indianapolis has announced that it will repurchase up to $250 million in par value of excess stock from shareholders that are former members (or their successors-in-interest) with excess stock (provided that no fractional shares will be repurchased). This repurchase is in accordance with Section VI.C of the bank's capital plan dated Sept. 19, 2002, (as amended) and is being undertaken for general capital management purposes. The excess stock that is subject to the repurchase is currently subject to mandatory redemption requests and in the ordinary course of business would have been redeemed by April 2014. Letters of repurchase were sent to affected shareholders that held excess stock as of Dec. 31, 2012. The letters were mailed on Jan. 24, 2013, and the repurchase will occur on or about Feb. 8, 2013, provided that such repurchase meets all of the terms and conditions of the bank's capital plan as of the date of the repurchase.

The bank's fourth quarter dividend declaration and fourth quarter and year 2012 earnings will be announced on or about Feb. 21, 2013.


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