IBJNews

  • Home

UPDATE: First Internet slips 2.5 percent in debut on NASDAQ

IBJ Staff
February 22, 2013
Keywords
Banking & Finance, Banks, First Internet Bank, Indiana Banks, Investing, Online Banking, Stock Market
Back to TopCommentsE-mailPrint

Shares of Indianapolis-based First Internet Bancorp slipped in their first day on the NASDAQ exchange, dropping 2.5 percent during trading on Friday.

Shares finished the day at $28.50, a 75-cent decline from their opening price of $29.25.

The parent of First Internet Bank announced in December that it had filed with the Securities and Exchange Commission to make the move to NASDAQ from the over-the-counter board. Its new ticker symbol is INBK.

The shares had been listed on the thinly traded over-the-counter market under the FIBP ticker since 2005. Shares closed Thursday at $27.74 each.

Chairman and CEO David Becker founded First Internet Bank in 1999. The bank has no branches and has 102 employees at its headquarters at 9200 Keystone Crossing.

"We are pleased to be joining NASDAQ, as it includes more regional and community banks than any other U.S. exchange,” Becker said in a prepared statement. ”The board of directors believes that our plan to move from the over-the-counter market to NASDAQ will improve the visibility of our stock and enhance trading liquidity in our shares, which provides a long-term benefit to our shareholders."

On Tuesday, First Internet announced plans to add 48 jobs as part of a $4.3 million expansion into Fishers.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

ADVANCED SEARCH
Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ

  1. "And the success of the Indiana GOP to not allow an expansion of Medicaid had nothing to do with Indiana hospitals' financial woes? Fixed that for you; editorial bias rebalanced. Seriously, there are so many things wrong with Obamacare that the only way one can view it as a success is to assume that it was designed to fail our way into a government single payor healthcare system. The system is complex, creates huge regulatory burdens and overhead and yet still does not have adequate means to control escalating health care costs. But then when you elect a 10th grade math drop out with no quantitative reasoning skills to be President of one of the world's most important economies in troubled times, you can't really be surprised by blatant stupidity.

  2. No NIMBYs here to chase off a decent development. We don't need tons of parking and we'd happily play the role of host to a downtown Whole Foods.

  3. Whatever you do, don't change a single thing about Broad Ripple. I want it to look just like it did in the late '70s, with 30% of the north side of Broad Ripple Avenue burned out and plenty of places to park. That's right Broad Ripple, NEVER CHANGE. Let the world pass you by, don't improve your empty, abandoned lots full of weeds. Someday someone will want to film a zombie movie here.

  4. Hollywood could step in and make a movie about the history about this forlorn series. It could be a full celebrity cast of characters. WOW. http://www.advanceindiana.blogspot.com/2013/02/indiana-taxpayers-forced-to-pay-for.html

  5. This shouldn't come as a shock to many. Austin is a great city, and Indy needs to take some notes. Austin invests in decent transit options, has a highly educated workforce, embraces a creative class, and --despite being the state capital-- is not micromanaged by rural and suburban legislators. Want Indy to grow? Invest in the city (i.e. spend money). Raise taxes a bit, and use the money to improve education. And keep the state legislature out of Indy the other 9 months of the year.

ADVERTISEMENT