Employment Up Over 40% at First Internet Bank

At the annual meeting of shareholders of First Internet Bancorp, parent company of First Internet Bank, Chairman and CEO David Becker announced yesterday the Bank had increased its employee count 42% by adding 22 employees between December 31, 2010 and December 31, 2011.

“The unemployment rate in Indiana is at its lowest rate since 2008, and First Internet Bank is proud to contribute to the growth in private sector jobs,” Becker said. He went on to explain these positions helped to support the Bank’s recently launched commercial lending initiative as well as its established and growing mortgage lending operation. First Internet Bank offers commercial and industrial lending locally, commercial real estate lending regionally, mortgage loans in 49 states, and personal loans and deposit accounts in 50 states.

First Internet Bank did not receive any economic development funds to finance the employment expansion. First Internet Bank had assets of over $610 million as of March 31, 2012, its highest point since its launch in 1999. In addition to employment, First Internet Bank reported 10% growth in loans and 15% growth in deposits in 2011. The Bank closed 38% more mortgages in 2011 than it did in 2010.

A seasoned entrepreneur, Mr. Becker has a history of job creation in Central Indiana since launching his first Indiana-based company 31 years ago.

About First Internet Bank
First Internet Bank of Indiana (First IB) is the first state-chartered, FDIC-insured institution to operate solely via the Internet and has customers in all 50 states. Deposit services include checking accounts, regular and money market savings accounts with industry-leading interest rates, CDs and IRAs. First IB also offers consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First Internet Bank opened for business in 1999.

About First Internet Bancorp
First Internet Bancorp (OTCBB: FIBP), the parent company of First Internet Bank of Indiana, is privately capitalized with over 240 private and corporate investors. The Bancorp became effective March 21, 2006.