On October 24, 2019 FHLBank Indianapolis issued its third quarter 2019 earnings release.
Our Board of Directors declared dividends on Class B-1 and Class B-2 capital stock at annualized rates of 4.75% and 3.80%, respectively. The dividends will be paid in cash on October 25, 2019.
Net income for the quarter of $26 million, a decrease of $13 million compared to the same quarter in the prior year, primarily due to lower spreads on the Bank’s interest-earning assets.
FHLBank Indianapolis allocated $11 million to its Affordable Housing Program for the nine months ended September 30, 2019. Full year 2019 AHP allocations will be available to FHLBank Indianapolis members in 2020.
Outstanding advances totaled $32.5 billion – a net decrease of $241 million, or 1%, from December 31, 2018, due to a net decrease in short-term advances outstanding of 24% and a net increase in long-term advances outstanding of 18%.
Mortgage loan purchases through the Advantage Mortgage Purchase Program totaled $877 million.
Mortgage loans held for portfolio totaled $11.1 billion – a net decrease of $281 million, or 2%, from December 31, 2018.
Click here for the published Q3 2019 earnings release