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UPDATE: First Internet slips 2.5 percent in debut on NASDAQ

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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.
 

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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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