December 18, 2014 5:07 PM ET

Thrifts and Mortgage Finance

Company Overview of Federal Home Loan Bank of Indianapolis

Company Overview

Federal Home Loan Bank of Indianapolis, a wholesale bank, provides loans, grants, and business services to member financial institutions in Indiana and Michigan. It operates in two segments, Traditional and Mortgage Loans. The Traditional segment offers various credit products, including letters of credit and lines of credit, as well as standby letters of credit. This segment also provides various advances, such as fixed-rate bullet, putable, fixed-rate amortizing, adjustable-rate, variable-rate, and callable advances; and deposit products comprising overnight and demand, time, and other interest bearing and non-interest bearing deposits. The Mortgage Loans segment purchases mortgage loans, ...

8250 Woodfield Crossing Boulevard

Indianapolis, IN 46240

United States

205 Employees

Phone:

317-465-0200

Key Executives for Federal Home Loan Bank of Indianapolis

Chief Executive Officer and President
Age: 57
Chief Financial Officer and Executive Vice President of Finance
Age: 66
Chief Accounting Officer and Senior Vice President
Age: 57
Chief Operating Officer-Business Operations and Executive Vice President
Age: 57
Chief Banking Officer and Senior Vice President
Age: 60
Compensation as of Fiscal Year 2014.

Federal Home Loan Bank of Indianapolis Key Developments

Federal Home Loan Bank of Indianapolis Announces Resignation of Jonathan R. West as Executive Vice President - Chief Operating Officer, Business Operations, Effective December 31, 2014

The Federal Home Loan Bank of Indianapolis announced that Jonathan R. West, Executive Vice President - Chief Operating Officer, Business Operations, has voluntarily resigned his position at the Bank, effective December 31, 2014.

Federal Home Loan Bank of Indianapolis Declares Dividends, Payable on October 30, 2014; Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

On October 29, 2014, 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 3.75% and 3.00%, respectively. These dividends will be paid in cash on October 30, 2014. The company announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. Net Income for the third quarter of 2014 was $33.8 million. The increase of $5.0 million compared to the same period in 2013 was primarily due to higher other income and lower other expenses, partially offset by lower net interest income after provision for credit losses. The net increase in other income resulted from proceeds from a litigation settlement related to certain private-label mortgage-backed securities. Net interest income after provision for credit losses decreased by $4.4 million or 9% in the third quarter of 2014, compared to the same period in 2013, primarily due to narrower net interest spreads. Net Income for the nine months ended September 30, 2014 was $100.6 million. The decrease of $37.3 million compared to the same period in 2013 was primarily due to lower net interest income after provision for credit losses and the net realized gain on the sale of PLMBS in 2013, partially offset by proceeds from PLMBS litigation settlements in 2014. Net interest income after provision for credit losses decreased by $38.2 million or 22% in the nine months ended September 30, 2014, compared to the same period in 2013, primarily due to narrower net interest spreads.

Federal Home Loan Bank Not To Seek A Merger

Federal Home Loan Bank of Indianapolis is not looking for a merger. A spokesman of Federal Home Loan Bank said that it has no plans to pursue a merger, noting that bank is profitable, its capital is above the required level and is growing retained earnings.

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Recent Private Companies Transactions

Type
Date
Target
Buyback
November 25, 2014
--
Buyback
October 7, 2014
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