FHLBank Indianapolis announces first quarter 2024 dividends, reports earnings

last updated on Thursday, April 25, 2024 in Federal Home Loan Bank Indianapolis

On April 25, 2024, the Board of Directors of FHLBank Indianapolis declared its first quarter2024dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 9.50%and 4.50%, respectively. The higher dividend rate on activity-based stock reflects the Board's discretion under the Bank's capital plan to reward members that use FHLBank Indianapolis in support of their liquidity needs.

The dividends will be paid in cash on April 26, 2024.

Net income, for the first quarterof 2024, was $95 million, an increaseof $3 millioncompared to the corresponding quarter in the prior year. The increase was primarily due to higher earnings on the portion of the Bank's assets funded by its capital, driven substantially by the increase in market interest rates. However, such increase was substantially offset by net gains on the extinguishment of consolidated obligations in the corresponding quarter that did not occur in the current quarter.

Click here to read the Bank's full news release.