Thrifts and Mortgage Finance
Company Overview of Federal Home Loan Bank of Indianapolis
Federal Home Loan Bank of Indianapolis, a regional wholesale bank, provides loans, grants, and business services to member financial institutions in Indiana and Michigan. The company operates through two segments, Traditional and Mortgage Loans. The Traditional segment offers various credit products, including advances, such as fixed-rate bullet, putable, fixed-rate amortizing, adjustable-rate, variable-rate, and callable advances; standby letters of credit; and lines of credit. This segment also provides a portfolio of investments, including federal funds sold, securities purchased under agreement to resell, AFS securities, and HTM securities, as well as deposit products, such as overnight ...
8250 Woodfield Crossing Boulevard
Indianapolis, IN 46240
Key Executives for Federal Home Loan Bank of Indianapolis
Chief Executive Officer and President
Chief Financial Officer and Senior Vice President
Chief Accounting Officer and Senior Vice President
Chief Risk Officer and Senior Vice President
Chief Information Officer, Senior Vice President and MPP Operations Officer
Compensation as of Fiscal Year 2015.
Federal Home Loan Bank of Indianapolis Key Developments
Federal Home Loan Bank of Indianapolis Appoints Michael J. Manica to the Second Open Michigan Member Director Seat, Effective January 1, 2016
Nov 4 15
Federal Home Loan Bank of Indianapolis announced the certified results of the Michigan election of two member directors, and the district-wide election of two independent directors to its 16-person Board of Directors. The members elected the following individuals to the board with terms beginning January 1, 2016 and ending December 31, 2019: Michael J. Manica, President and CEO at United Bank of Michigan, Grand Rapids, Michigan was elected to the second open Michigan member director seat.
Federal Home Loan Bank of Indianapolis Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
Oct 29 15
Federal Home Loan Bank of Indianapolis reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the bank reported net interest income after provision for credit losses was $48 million against $45 million a year ago. Net income was $28 million against $32 million a year ago. This decrease resulted primarily from net proceeds from litigation settlements related to certain private-label mortgage-backed securities received in the third quarter of 2014, compared to no such settlements in the third quarter of 2015. In addition, the bank had net unrealized losses on derivatives and hedging portfolio in the third quarter of 2015.
For the nine months, the bank reported net interest income after provision for credit losses was $144 million against $137 million a year ago. Net income was $93 million against $100 million a year ago. The bank derives its net income primarily through net interest income earned on advances made to its Indiana and Michigan member financial institutions, on its portfolio of mortgage loans purchased from members, and on long-and short-term investments. The bank's net interest income is primarily determined by the spread between the interest earned on assets and the interest cost on consolidated obligations. The increase for the three and nine months was due to increased volume in both advance and mortgage loan portfolios.
Federal Home Loan Bank of Indianapolis Declares Dividends on Class B-1 and Class B-2 Capital Stock, Payable on October 30, 2015
Oct 29 15
The board of directors of the Federal Home Loan Bank of Indianapolis declared dividends on class b-1 and class b-2 capital stock at annualized rates of 4.25% and 3.40%, respectively. These dividend rates are consistent with those paid on second quarter 2015 earnings. the dividend amounts will be paid in cash on October 30, 2015.
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