INDIANAPOLIS, Nov. 26, 2013 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis ("Bank") announced today that it will repurchase up to $83,587,400 in par value of excess stock (provided that no fractional shares will be repurchased) from shareholders that are former members (or their successors-in-interest). This repurchase is being undertaken for general capital management purposes. Letters of repurchase were mailed to affected shareholders on November 26, 2013, and the repurchase will occur on or about December 18, 2013, 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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Building Partnerships, Serving Communities
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.
Jeffrey A. Sanders, Vice President Corporate Communications & Planning Director 317.465.0529