First Internet Bancorp to Pay Cash Dividend

Rhea-AI Summary

First Internet Bancorp (INBK) has declared a quarterly cash dividend of $0.06 per common share, scheduled for payment on October 17, 2022, to shareholders of record as of September 30, 2022. The Board of Directors will determine future dividends based on various factors, including the company's financial health and operational results.

As of June 30, 2022, First Internet Bancorp reported assets totaling $4.1 billion and operates as a leader in branchless banking solutions.

Positive

• Quarterly cash dividend declared at $0.06 per share, demonstrating ongoing shareholder return.

Negative

• Future dividend payments remain at the discretion of the Board, potentially indicating uncertainty.

FISHERS, Ind.--(BUSINESS WIRE)-- 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 October 17, 2022 to shareholders of record at the close of business on September 30, 2022.

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 financial holding company with assets of $4.1 billion as of June 30, 2022. 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, SBA financing, franchise finance, residential mortgage loans, consumer loans, and specialty finance services nationally as well as commercial real estate loans, construction loans, commercial and industrial loans, and treasury management services on a regional basis. 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/20220920005902/en/

Investors/Analysts

Paula Deemer

Director of Corporate Administration

(317) 428-4628

investors@firstib.com

Media

Nicole Lorch

President and Chief Operating Officer

(317) 532-7906

nlorch@firstib.com

Source: First Internet Bancorp

FAQ

What is the declared dividend amount for INBK?

The declared dividend amount for First Internet Bancorp (INBK) is $0.06 per common share.

When will the dividend for INBK be paid?

The dividend for INBK will be paid on October 17, 2022.

What date do you need to hold INBK shares to receive the dividend?

You need to hold INBK shares by the close of business on September 30, 2022, to receive the dividend.

How does First Internet Bancorp determine future dividends?

Future dividends of First Internet Bancorp are determined by the Board based on the company's financial performance and other relevant factors.