Investors have turned pessimistic about everything from the inevitability of a U.S. recession to growing international trade disruptions and higher loan defaults.
20 years after launch, nation’s first internet-only bank is on a roll
Fishers-based First Internet Bancorp has had strong double-digit percentage growth in recent years, while most banks are growing in the mid-single-digit range.Read More
The Fishers-based bank reported that the quality of its loans improved even as its loan portfolio grew larger. Much of the growth came from commercial loans.
First Internet Bank agreed to acquire 11 parcels on the south side of 116th Street for $10 million, with Fishers agreeing to reimburse the bank for land acquisition costs.
The Fishers-based parent of First Internet Bank also saw big increases deposit growth and net interest income.
The Fishers-based financial company announced late Tuesday that it had sold 1.65 million shares of common stock at $29 per share.
The Fishers-based online bank says it will expand its presence in health care lending by agreeing to fund millions of dollars in loans for clients of the San Francisco-based startup. It also is taking a stake in the firm.
The Fishers-based company said loan growth helped boost profit during the second quarter.
The Fishers-based bank launched a municipal lending department last quarter, which the company said helped boost its performance.
Fishers-based First Internet Bancorp on Thursday said it realized record earnings in the fourth quarter—the 10th time in 11 quarters it has seen rising earnings.
The Fishers-based online-only bank plans to use the new capital to support its growing loan business.
The bank said it plans to use the $23 million it raised to fund organic growth, possible acquisitions and other corporate purposes.
People who know David Becker say he has long been a visionary. Still, they were a bit surprised when he launched First Internet. Now, it’s one of the area’s fastest growing banks.
It was the fourth straight quarter of earnings growth for First Internet, which passed the $1 billion mark in assets during the quarter.
First Internet Bank of Indiana, which was founded in 1999 as one of the nation’s first online-only banks, has exceeded $1 billion in assets, it announced Friday.