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Board Approves Repurchase of Excess Stock

On February 21, 2012, the board of directors approved the repurchase of excess capital stock in a targeted amount of $250 million.

This will be the Bank's first such repurchase since the moratorium was established in December 2008 and will be the only such repurchase of excess stock that the Bank intends to make in 2012.

In accordance with the Bank's Capital Plan, the repurchase will be conducted on March 9, 15 days from the date of the announcement.

Read the letter to shareholders and FAQs.

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