FHLBank Indianapolis to repurchase up to $200 million in excess stock
last updated on Tuesday, August 22, 2023 in Finance News
The Federal Home Loan Bank of Indianapolis announced today that it will repurchase, on a voluntary basis and for a limited time, up to $200 million in par value of excess stock from members by Sept. 27, 2023.
Interested members must make repurchase requests in writing during a 14-day period beginning Sept. 6, 2023. Members can identify the specific shares to be repurchased; otherwise, the Bank will repurchase the most recently acquired shares of excess stock not already subject to a redemption request. Should total requests exceed $200 million, excess stock repurchases will be made on a pro-rata basis.
Members first received notice of the repurchase opportunity on Aug. 22, 2023.
Click here to read the full news release.