On October 28, 2021, FHLBank Indianapolis issued its third quarter 2021 earnings release.
Our Board of Directors declared dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 3.25% and 1.00%, respectively. The higher dividend rate on activity-based stock reflects the Board's discretion under our capital plan to reward members that use FHLBank Indianapolis in support of their liquidity need. The dividends will be paid in cash on October 29, 2021.
Net income for the quarter of $19.9 million, an increase of $5.0 million compared to the same quarter in the prior year.
FHLBank Indianapolis allocated $7.7 million to its Affordable Housing Program (AHP) for the nine months ended September 30, 2021. Full-year 2021 AHP allocations will be available to FHLBank Indianapolis members in 2022.
Outstanding advances totaled $27.0 billion – a net decrease of $4.4 billion, or 14%, from December 31, 2020.
Mortgage loan purchases through the Advantage Mortgage Purchase Program totaled $1.6 billion.
Mortgage loans held for portfolio totaled $7.6 billion – a net decrease of $946 million, or 11%, from December 31, 2020.
Click here for the published Q3 2021 earnings release