First Internet Bank of Indianapolis plans to enter the commercial lending business after more than a decade of focusing on consumer loans.
The online bank said Monday that it will focus on commercial real estate in central Indiana. The $483 million-asset First Internet started in 1999 by offering consumer loans and then expanded into residential mortgage lending in 2007 after acquiring Landmark Financial Corp.
First Internet's chairman and chief executive, David Becker, said in a press release that while the bank will continue to offer consumer loans and mortgages, "we see unmet demand for commercial loans in central Indiana.
