First Internet Bancorp to Pay Cash Dividend

Rhea-AI Summary

The Board of Directors of First Internet Bancorp (Nasdaq: INBK) has announced a quarterly cash dividend of $0.06 per common share, payable on April 15, 2021. Shareholders of record by March 31, 2021 will benefit from this distribution. Future dividends will be determined at the Board's discretion and will consider various factors such as operational results and financial condition. As of December 31, 2020, the Company reported assets totaling $4.2 billion.

Positive

• Quarterly cash dividend of $0.06 per common share announced.
• Assets of $4.2 billion as of December 31, 2020 demonstrate financial stability.

Negative

• None.

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 April 15, 2021 to shareholders of record at the close of business on March 31, 2021.

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 $4.2 billion as of December 31, 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/20210316006036/en/

FAQ

What is the dividend amount declared by First Internet Bancorp?

The dividend amount declared is $0.06 per common share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 15, 2021.

What is the record date for the dividend payment?

The record date for the dividend payment is March 31, 2021.

How does First Internet Bancorp determine future dividends?

Future dividends will be subject to the discretion of the Board and will depend on factors like financial condition and operational results.