First IB of Indiana Completes $12 Million Equity Private Placement with Newcourt Financial
First Internet Bank of Indiana (“First IB”), a growing, Internet-only financial institution, today announced that it has completed a $12 million equity private placement with Newcourt Financial (“Newcourt”), the commercial finance business of Newcourt Credit Group. As a result, Newcourt now owns just under 10% of the Bank’s capital stock. In addition, Mr. Robert J. Hicks, Executive Vice President of Strategic Development at Newcourt, will be appointed to the Bank’s Board of Directors at the next Board meeting.
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