First Internet Bancorp to Pay Cash Dividend

Rhea-AI Summary

The Board of Directors of First Internet Bancorp (Nasdaq: INBK) has declared a quarterly cash dividend of $0.06 per common share, payable on January 15, 2021, to shareholders on record as of the close of business on December 31, 2020. Future dividends will depend on the Company's financial performance, capital needs, and other factors evaluated by the Board. As of September 30, 2020, the Company held assets of $4.3 billion. First Internet Bancorp is a leader in branchless banking, offering a range of financial services nationally.

Positive

• Quarterly cash dividend of $0.06 per share declared.
• Company holds substantial assets of $4.3 billion as of September 30, 2020.
• Established position in branchless banking since 1999.

Negative

• Future dividends depend on various factors, potentially indicating uncertainty.

The Board of Directors of First Internet Bancorp (the “Company”) (Nasdaq: INBK) has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on January 15, 2021 to shareholders of record at the close of business on December 31, 2020.

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.

About First Internet Bancorp

First Internet Bancorp is a bank holding company with assets of $4.3 billion as of September 30, 2020. 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 in select geographies. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005729/en/

FAQ

What is the dividend amount declared by First Internet Bancorp?

First Internet Bancorp declared a quarterly cash dividend of $0.06 per common share.

When will the dividend be paid to shareholders?

The dividend will be payable on January 15, 2021.

Who are eligible for the dividend payment?

Shareholders of record at the close of business on December 31, 2020, are eligible for the dividend.

What factors influence future dividend declarations by First Internet Bancorp?

Future dividends will depend on the Company’s results of operations, financial condition, capital requirements, and other relevant factors.