INDIANAPOLIS, May 11, 2015 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (“Bank”) announced today that it will repurchase up to $250,000,000 in par value of excess stock (provided that no fractional shares will be repurchased) from shareholders that are members or former members (or their successors-in-interest). This repurchase is being undertaken for general capital management purposes. Letters of repurchase were e-mailed to affected shareholders on May 11, 2015, and the repurchase will occur on or about May 28, 2015, provided that the repurchase meets all of the terms and conditions of the Bank's Capital Plan as of the date of the repurchase.
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This document may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 concerning plans, objectives, goals, strategies, future events or performance. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” or the negative of those terms or comparable terminology. Any forward-looking statement contained in this document reflects our current beliefs and expectations. Actual results or performance may differ materially from what is expressed in any forward-looking statements.
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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, savings banks and CDFIs. For more information about the FHLBI, visit www.fhlbi.com.
Contact: Carrie O'Connor Director of Corporate Communications 317.465.0469 email@example.com
Source:Federal Home Loan Bank of Indianapolis