INDIANAPOLIS, Oct. 7, 2014 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBI) today announced it will repurchase up to $200 million in par value of excess stock from members by November 5, 2014.
Interested members must make repurchase requests in writing during a fourteen (14)-day period which began October 6, 2014. Requests for repurchase will be granted in the order they are received by FHLBI, provided in each case that the repurchase meets all of the terms and conditions of the Bank's Capital Plan. Members first received notice of the repurchase opportunity on September 19, 2014.
The Bank's third quarter dividend declaration and third quarter earnings will be announced on or about October 29, 2014.
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The Federal Home Loan Bank of Indianapolis (FHLBI) is one of 12 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. The FHLBI is owned by its Indiana and Michigan financial institution members, which include commercial banks, credit unions, insurance companies, and savings banks. For more information about the FHLBI, visit www.fhlbi.com.
CONTACT: Jeffrey A. Sanders, First Vice President Corporate Communications & Planning Director 317.465.0529 firstname.lastname@example.orgSource:Federal Home Loan Bank of Indianapolis