Federal Home Loan Bank Of Indianapolis 8-k (events Or Changes Between Quarterly Reports) 2009-02-20
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): February 20, 2009
FEDERAL HOME LOAN BANK OF INDIANAPOLIS (EXAC T NAME O F REGIS TRANT AS S PEC IFIED IN ITS C HARTER)
Federally Chartered Corporation
000-51404
35-6001443
(State or oth e r jurisdiction of in corporation )
(C om m ission File Nu m be r)
(IRS Em ploye r Ide n tification No.)
8250 Woodfield Crossing Blvd. Indianapolis IN 46240 (Addre ss of Principal Exe cu tive O ffice s, inclu ding Zip C ode )
(317) 465-0200 (Re gistran t’s Te le ph on e Nu m be r, Inclu ding Are a C ode )
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): ®
Written communications pursuant to Rule 425 under the Securities Act
®
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
®
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
®
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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Item 2.02.
Results of Operations and Financial Condition
On January 16, 2009, the Federal Home Loan Bank of Indianapolis (the “Bank”) filed a Current Report on Form 8-K in connection with its decision to defer an announcement concerning its fourth quarter 2008 dividend. The Bank deferred that announcement due to the need to finalize a review of its private-label mortgage-backed securities portfolio for other-than-temporary impairment. On February 20, 2009, the Bank issued a press release announcing the declaration of dividends for the quarter ended December 31, 2008. A copy of the press release is included as Exhibit 99.1 to this report. The information contained in Exhibit 99.1 is being furnished pursuant to Item 2.02 of this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01.
Financial Statements and Exhibits
Attached as Exhibit 99.1 is the press release dated February 20, 2009, issued by the Federal Home Loan Bank of Indianapolis. 2
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SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 20, 2009 FEDERAL HOME LOAN BANK OF INDIANAPOLIS By: /s/ MILTON J. MILLER II Milton J. Miller II President – Chief Executive Officer By: /s/ CINDY L. KONICH Cindy L. Konich Senior Vice President – Chief Financial Officer 3
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EXHIBIT INDEX Exh ibit Nu m be r
De scription
99.1
Press Release of Federal Home Loan Bank of Indianapolis, dated February 20, 2009 4 Exhibit 99.1 LOGO
FOR IMMEDIATE RELEASE February 20, 2009
Contact: Barbara K. Hembree 317.465.0445 [email protected] Federal Home Loan Bank of Indianapolis Announces 2008 Fourth Quarter Dividend
Indianapolis, IN—On February 20, 2009, the Board of Directors (Board) of the Federal Home Loan Bank of Indianapolis (FHLBI) declared dividends on B-1 and B-2 stock at annualized rates of 4.00% and 3.20%, respectively. These dividends will be paid in cash on February 20, 2009. Under the FHLBI’s Capital Plan, dividends are ordinarily declared the 10th business day after the end of the quarter with payment made around the 15th business day. As previously announced, the Board extended this time period to allow for a more detailed review of our privatelabel mortgage-backed securities (MBS) for potential other-than-temporary impairment. This dividend is 75 basis points lower than the rate paid in the previous quarter. The FHLBI management and Board believe it is a competitive return given the dramatic drop in interest rates that occurred throughout 2008. The FHLBI has determined that none of its private-label MBS were other-than-temporarily impaired as of December 31, 2008. We believe this dividend reduction is prudent given the challenging economic environment. 1
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Safe Harbor Statement This document contains forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, which are not statements of historical fact. The forward-looking statements contained in this release reflect our current beliefs and expectations. Actual results or performance may differ materially from what is expressed in the forward-looking statements. Readers are referred to the documents filed by us with the SEC, specifically reports on Form 10-K and Form 10-Q which include factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov. ### Building Partnerships, Serving Communities The Federal Home Loan Bank of Indianapolis (FHLBI) is one of 12 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. The FHLBI is owned by its financial institution members, which include commercial banks, credit unions, insurance companies, and savings banks headquartered in Indiana and Michigan. For more information about the FHLBI and its Affordable Housing Program, visit www.fhlbi.com. 2
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549
FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): February 20, 2009
FEDERAL HOME LOAN BANK OF INDIANAPOLIS (EXAC T NAME O F REGIS TRANT AS S PEC IFIED IN ITS C HARTER)
Federally Chartered Corporation
000-51404
35-6001443
(State or oth e r jurisdiction of in corporation )
(C om m ission File Nu m be r)
(IRS Em ploye r Ide n tification No.)
8250 Woodfield Crossing Blvd. Indianapolis IN 46240 (Addre ss of Principal Exe cu tive O ffice s, inclu ding Zip C ode )
(317) 465-0200 (Re gistran t’s Te le ph on e Nu m be r, Inclu ding Are a C ode )
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below): ®
Written communications pursuant to Rule 425 under the Securities Act
®
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
®
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
®
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Processed and formatted by SEC Watch - Visit SECWatch.com
Item 2.02.
Results of Operations and Financial Condition
On January 16, 2009, the Federal Home Loan Bank of Indianapolis (the “Bank”) filed a Current Report on Form 8-K in connection with its decision to defer an announcement concerning its fourth quarter 2008 dividend. The Bank deferred that announcement due to the need to finalize a review of its private-label mortgage-backed securities portfolio for other-than-temporary impairment. On February 20, 2009, the Bank issued a press release announcing the declaration of dividends for the quarter ended December 31, 2008. A copy of the press release is included as Exhibit 99.1 to this report. The information contained in Exhibit 99.1 is being furnished pursuant to Item 2.02 of this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01.
Financial Statements and Exhibits
Attached as Exhibit 99.1 is the press release dated February 20, 2009, issued by the Federal Home Loan Bank of Indianapolis. 2
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SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 20, 2009 FEDERAL HOME LOAN BANK OF INDIANAPOLIS By: /s/ MILTON J. MILLER II Milton J. Miller II President – Chief Executive Officer By: /s/ CINDY L. KONICH Cindy L. Konich Senior Vice President – Chief Financial Officer 3
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EXHIBIT INDEX Exh ibit Nu m be r
De scription
99.1
Press Release of Federal Home Loan Bank of Indianapolis, dated February 20, 2009 4 Exhibit 99.1 LOGO
FOR IMMEDIATE RELEASE February 20, 2009
Contact: Barbara K. Hembree 317.465.0445 [email protected] Federal Home Loan Bank of Indianapolis Announces 2008 Fourth Quarter Dividend
Indianapolis, IN—On February 20, 2009, the Board of Directors (Board) of the Federal Home Loan Bank of Indianapolis (FHLBI) declared dividends on B-1 and B-2 stock at annualized rates of 4.00% and 3.20%, respectively. These dividends will be paid in cash on February 20, 2009. Under the FHLBI’s Capital Plan, dividends are ordinarily declared the 10th business day after the end of the quarter with payment made around the 15th business day. As previously announced, the Board extended this time period to allow for a more detailed review of our privatelabel mortgage-backed securities (MBS) for potential other-than-temporary impairment. This dividend is 75 basis points lower than the rate paid in the previous quarter. The FHLBI management and Board believe it is a competitive return given the dramatic drop in interest rates that occurred throughout 2008. The FHLBI has determined that none of its private-label MBS were other-than-temporarily impaired as of December 31, 2008. We believe this dividend reduction is prudent given the challenging economic environment. 1
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Safe Harbor Statement This document contains forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, which are not statements of historical fact. The forward-looking statements contained in this release reflect our current beliefs and expectations. Actual results or performance may differ materially from what is expressed in the forward-looking statements. Readers are referred to the documents filed by us with the SEC, specifically reports on Form 10-K and Form 10-Q which include factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov. ### Building Partnerships, Serving Communities The Federal Home Loan Bank of Indianapolis (FHLBI) is one of 12 regional banks that make up the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. The FHLBI is owned by its financial institution members, which include commercial banks, credit unions, insurance companies, and savings banks headquartered in Indiana and Michigan. For more information about the FHLBI and its Affordable Housing Program, visit www.fhlbi.com. 2
