First Internet Bancorp Announces Issuance of $35 Million Subordinated Notes
June 12 2019 - 11:31AM
Business Wire
First Internet Bancorp (the “Company”) (Nasdaq: 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. Assuming the Company’s
application to list the Notes on the Nasdaq Global Select Market is
approved, trading in the Notes on Nasdaq is expected to begin on or
about June 17, 2019.
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to sell the Notes,
which is made only by means of a prospectus supplement and related
prospectus, nor will there be any sale of the Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About First Internet Bancorp
First Internet Bancorp is a bank holding company with assets of
$3.7 billion as of March 31, 2019. The Company’s subsidiary, First
Internet Bank, opened for business in 1999 as an industry pioneer
in the branchless delivery of banking services. The Bank provides
consumer and small business deposit, consumer loan, residential
mortgage, and specialty finance services nationally as well as
commercial real estate loans, commercial and industrial loans, SBA
financing and treasury management services. First Internet
Bancorp’s common stock trades on the Nasdaq Global Select Market
under the symbol “INBK” and is a component of the Russell
2000® Index. Additional information about the Company is
available at www.firstinternetbancorp.com and additional
information about the Bank, including its products and services, is
available at www.firstib.com.
Forward-Looking Statements
This press release may contain forward-looking statements with
respect to the financial condition, results of operations, trends
in lending policies, plans, objectives, future performance or
business of the Company. Forward-looking statements are generally
identifiable by the use of words such as “anticipate,” “believe,”
“could,” “estimate,” “expect,” “intend,” “may,” “pending,” “plan,”
“preliminary,” “should,” “will,” “would” or other similar
expressions. Forward-looking statements are not a guarantee of
future performance or results, are based on information available
at the time the statements are made and involve known and unknown
risks, uncertainties and other factors that could cause actual
results to differ materially from the information in the
forward-looking statements. Factors that may cause such differences
include: failures or breaches of or interruptions in the
communications and information systems on which we rely to conduct
our business; failure of our plans to grow our commercial real
estate, commercial and industrial, public finance and healthcare
finance loan portfolios; competition with national, regional and
community financial institutions; the loss of any key members of
senior management; fluctuations in interest rates; general economic
conditions; risks relating to the regulation of financial
institutions; and other factors identified in reports we file with
the U.S. Securities and Exchange Commission. All statements in this
press release, including forward-looking statements, speak only as
of the date they are made, and the Company undertakes no obligation
to update any statement in light of new information or future
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20190612005681/en/
Investors/AnalystsPaula
DeemerInvestor Relations(317) 428-4628investors@firstib.com
MediaNicole LorchExecutive Vice
President, Chief Operating Officer(317)
532-7906nlorch@firstib.com
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