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An online-bank board's appointment of John Keach Jr., a community banker who had to sell his bank this year, provides a ray of hope for industry veterans.
December 3 -
First Internet Bank of Indianapolis plans to enter the commercial lending business after more than a decade of focusing on consumer loans.
August 3 -
First Internet Bancorp is creating a new division to offer traditional commercial and industrial lending to businesses in Indiana.
January 9 -
The $656 million-asset company will sell up to $25 million of common stock in a public offering, according to a Monday filing with the Securities and Exchange Commission.
October 1
First Internet Bancorp (INBK) in Indianapolis is adding asset-based lending to its commercial offerings.
Its new unit, called First Internet Bank Business Capital, will offer working capital of between $2 million and $5 million to small and midsize businesses, the $656 million-asset bank announced Wednesday. The unit will offer revolving lines of credit backed by accounts receivable and inventory and term loans backed by real estate and equipment, it said.
First Internet has hired Gregg Corey and Jennifer Eller to lead the division, working from a loan-production office in Portland, Ore. Corey had worked in U.S. Bancorp's (USB) asset-backed lending unit, First Internet said. Eller joined First Internet from Textron Financial Corp., a commercial financing firm.
"This new line of business allows us to serve a greater base of businesses and accelerates our growth by generating additional high quality assets," said David Becker, First Internet Bank's chief executive, in the news release.
First Internet has been
Last month, First Internet announced that it would
