|Bid||20.75 x 800|
|Ask||25.31 x 800|
|Day's Range||20.45 - 21.04|
|52 Week Range||17.56 - 35.25|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||9.70|
|Forward Dividend & Yield||0.24 (1.17%)|
|1y Target Est||N/A|
The Board of Directors of First Internet Bancorp (the “Company”) (INBK) has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on July 15, 2019 to shareholders of record at the close of business on June 28, 2019. The declaration and amount of any future cash dividends will be subject to the sole discretion of the Board of Directors and will depend upon many factors, including the Company’s results of operations, financial condition, capital requirements, regulatory and contractual restrictions, business strategy and other factors deemed relevant by the Board of Directors.
First Internet Bank (the “Bank”) placed first for medium-sized companies on The Indianapolis Star’s annual “Top Workplaces in Central Indiana” list. For the second consecutive year, the Bank also won a special award for company leadership. Of the award, First Internet Bank President and CEO David Becker commented, “We are proud to be recognized again as an employer of choice in Indianapolis.
First Internet Bancorp (the “Company”) (INBK), the parent company of First Internet Bank (the “Bank”) (www.firstib.com), today announced the completion of its previously announced public offering of $35.0 million principal amount of its 6.0% Fixed-to-Floating Rate Subordinated Notes due 2029 (the “Notes”). Keefe, Bruyette & Woods, Inc., a Stifel Company, has served as sole book-running manager for the offering, with Janney Montgomery Scott, BB&T Capital Markets, Boenning & Scattergood, Inc. and William Blair serving as co-managers. The Company has granted the underwriters in the offering a right to purchase up to an additional $2.0 million principal amount of Notes at the public offering price, less the underwriting discounts, on or before July 5, 2019.
First Internet Bancorp (the “Company”) (INBK), the parent company of First Internet Bank (the “Bank”) (www.firstib.com), today announced the pricing of a public offering of $35.0 million principal amount of its 6.0% Fixed-to-Floating Rate Subordinated Notes due 2029 (the “Notes”). From and including June 30, 2024 and through maturity or earlier redemption, the interest rate on the Notes will reset quarterly to an annual interest rate equal to the then-current Benchmark Rate (initially the three-month LIBOR rate) plus 4.114%. The Company has granted the underwriters a right to purchase up to an additional $2.0 million principal amount of Notes at the public offering price, less the underwriting discounts, within 30 days from the date of the final prospectus supplement.
First Internet Bank (the “Bank”) broke ground today for its new corporate headquarters in downtown Fishers. Since establishing an office at its current location – approximately two miles east of the new site – in 2013, the Bank’s assets are up nearly 500% and its employee count has risen by 75%. “The relocation of our headquarters will allow us to continue to expand our operations to achieve our strategic growth plan,” said David Becker, President and CEO of First Internet Bank.
First Internet Bank announced Mike Upton has been named Vice President, Commercial Real Estate Relationship Manager. Mr. Upton’s promotion expands the client-facing team within the Bank’s Single Tenant Lease Financing program.
First Internet Bancorp (the “Company”) (INBK), the parent company of First Internet Bank, announced today that Chairman, President and Chief Executive Officer, David Becker, and Executive Vice President and Chief Financial Officer, Kenneth Lovik, will be participating in the 16th Annual Craig-Hallum Institutional Investor Conference on May 29, 2019 in Minneapolis, Minnesota.
First Internet Bancorp (“First Internet” or the “Company”) (INBK) announced today that its subsidiary, First Internet Bank (the “Bank”), has entered into a loan and asset purchase agreement (the “Agreement”) to acquire the small business lending division (the “SBA Division”) of First Colorado National Bank (“First Colorado”). As of March 31, 2019, the balance of loans outstanding to be acquired was approximately $39.0 million, comprised primarily of SBA 7(a) loans. The Bank will also acquire a servicing portfolio consisting of guaranteed SBA 7(a) loans sold in the secondary market, which had a balance of approximately $112.0 million as of March 31, 2019.
First Internet Bancorp (the “Company”) (INBK), the parent company of First Internet Bank (www.firstib.com), will hold its Annual Meeting of Shareholders on Monday, May 20, 2019. Shareholders, interested investors and other parties may access the live, listen-only webcast and presentation slides by visiting a link available through the Company’s website at www.firstinternetbancorp.com. First Internet Bancorp is a bank holding company with assets of $3.7 billion as of March 31, 2019.
First Internet Bank announced Maris Kancs has been promoted to First Vice President. In his new role, Mr. Kancs will lead the Single Tenant Lease Financing Team and expand the Bank’s portfolio of commercial real estate investment clients. Mr. Kancs joined First Internet Bank as a Senior Portfolio Manager in 2013 and was promoted to a Relationship Manager role in 2018.
First Internet Bank was named the best overall provider of savings accounts for businesses, according to leading digital small business resource FitSmallBusiness.com. “First Internet Bank is proud to be regarded as the best provider of business accounts, not only for our competitive rates and low fees but also for convenience,” said David Becker, President and CEO. “As a longtime entrepreneur, I understand that business owners are looking for powerful digital banking tools that make it fast and easy to take care of financial management so they can focus on growing their businesses.
First Internet Bank announced that Eve Wilkerson has joined its Commercial Banking group as Vice President, SBA Loan Officer. Ms. Wilkerson will expand the Bank’s government guaranteed loan portfolio as First Internet Bank continues to build its presence among small businesses. Ms. Wilkerson joins a team of professionals with significant SBA program experience who joined the Bank recently to support the growth of this business line.
First Internet Bank announced that Aaron Barvitz has joined the Tempe, Arizona loan production office as Vice President of Commercial Banking, under the leadership of Neil Barna, Regional Vice President. Mr. Barvitz will draw on his community banking experience to identify and deliver flexible financial solutions to businesses throughout the greater Phoenix area. Mr. Barvitz has more than 14 years of experience in community banking with an emphasis on business lending and relationship management.
The Indiana Chamber of Commerce has recognized First Internet Bank as one of the “Best Places to Work in Indiana” for 2019. This marks the fifth time the Bank has made the Chamber’s list, an annual initiative to identify and recognize the best employers in the state. “Our employees should take pride in the supportive, growth-oriented culture they have built and continue to foster on a daily basis,” said First Internet Bank President and CEO David Becker.
First Internet Bank offers one of the 10 Best Checking Accounts in America, according to personal finance resource GOBankingRates.com. “We are delighted GOBankingRates has recognized our Interest Checking account for being a truly accessible solution for day-to-day banking needs – from the application process, which takes just minutes from any device, to easy-to-use digital account management and an expansive ATM network,” said David Becker, President and CEO. GOBankingRates.com considered products from 100 different financial institutions in its survey and selected checking accounts offering favorable interest rates without hefty balance requirements.
First Internet Bancorp (“First Internet” or the “Company”) (INBK), the parent company of First Internet Bank (the “Bank”), announced today that its Board of Directors approved on December 18, 2018 a new stock repurchase program with an aggregate purchase price of up to $10 million. The stock repurchase program is scheduled to expire on December 31, 2019. David Becker, Chairman, President and Chief Executive Officer, commented, “We are initiating this stock repurchase program, which demonstrates our commitment to enhancing shareholder value while also maintaining strong capital levels.
The City of Fishers’ Mayor Scott Fadness announced today a major downtown development along the north and south sides of 116th Street in the Nickel Plate District. The mixed-use development will feature residential, retail, a high-end boutique hotel, and will be anchored by a six-story office building. Indianapolis-based Browning Investments will provide a coordinated delivery of all projects and the associated mix of uses on both sides of 116th Street.
First Internet Bancorp , the parent company of First Internet Bank , announced today that Chairman, President and CEO, David Becker, and E