On April 29, 2021, FHLBank Indianapolis issued its first-quarter 2021 earnings release.
Our Board of Directors declared its first quarter 2021 dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 3.25% and 1.50%, respectively. The higher dividend rate on activity-based stock reflects the Board's discretion under our amended capital plan effective September 26, 2020 to reward members that use FHLBank Indianapolis in support of their liquidity needs. The dividends will be paid in cash on April 30, 2021.
Net income for the first quarter of 2021 $29.9 million, an increase of $0.4 million compared to the corresponding quarter in the prior year.
FHLBank Indianapolis allocated $3.4 million to its Affordable Housing Program for the three months ended March 31, 2021.
Outstanding advances totaled $29.8 billion – a net decrease of $1.6 billion or 5% from December 31, 2020.
Mortgage loans held for portfolio totaled $8.1 billion – a net decrease of $459 million, or 5%, from December 31, 2020, as principal repayments by borrowers significantly outpaced the Bank’s purchases during this period.
The Bank’s mortgage loan purchases through the Advantage Mortgage Purchase Program totaled $610 million for the three months ended March 31, 2021.
Click here for the published first quarter 2021 earnings release: FHLBank Indianapolis Declares Q1 2021 Dividends, Reports Earnings.