INDIANAPOLIS, May 24, 2011 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBI) announced today that it will repurchase up to $250,000,000 in par value of excess stock on a pro rata basis from all shareholders with excess stock (provided that no fractional shares will be repurchased). This is in accordance with Section VI.C. of the FHLBI's Capital Plan dated September 19, 2002 (as amended). Letters of repurchase were sent only to shareholders that held excess stock as of April 30, 2011. The letters were mailed May 24, 2011, and the repurchase will occur on or about June 9, 2011, provided that such 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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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 .
CONTACT: Federal Home Loan Bank of Indianapolis Barbara K. Hembree, Vice President Communications/Media Relations 317.465.0445 bhembree@fhlbi.com