Company Overview

First Internet Bancorp is a bank holding company that operates primarily through its wholly owned subsidiary, First Internet Bank, a state-chartered, FDIC-insured commercial bank. The company operates within the banking and financial services industry, with a business model centered on digital delivery rather than a traditional branch network. Its activities span commercial and consumer banking, specialty finance, and treasury management services, with revenue primarily generated from net interest income on loans and securities and, to a lesser extent, noninterest income from fees and service charges.

Founded in 1999, First Internet Bank was among the first U.S. banks to operate primarily online, and the holding company structure was established in 2005 to support broader growth and capital access. The company went public in 2013, enhancing its ability to expand lending activities and product offerings. Its long-standing online-only operating model has provided a structural cost advantage and enabled national reach without the overhead of a physical branch footprint.

Business Operations

First Internet Bancorp conducts substantially all operations through First Internet Bank, which is organized into several core business lines: Commercial Banking, Small Business Banking, Consumer Banking, and Public Finance. The commercial and small business segments focus on lending to owner-occupied businesses, investors, and specialized sectors, while consumer banking includes residential mortgage lending and online deposit products. The Public Finance segment provides loans and leasing solutions to municipalities and government-related entities.

The company operates nationwide in lending and deposit gathering, supported by centralized technology platforms and digital account origination. Key assets include proprietary online banking systems, underwriting expertise in niche lending categories, and a diversified loan portfolio. In addition to its main banking subsidiary, the company maintains supporting entities that facilitate mortgage origination and servicing activities, all of which are fully consolidated within the holding company structure.

Strategic Position & Investments

First Internet Bancorp’s strategy emphasizes disciplined loan growth, diversification of revenue streams, and maintaining a strong capital and liquidity position. Growth initiatives have focused on expanding specialty lending verticals, increasing public finance exposure, and enhancing digital capabilities to improve customer acquisition and retention. The company has historically favored organic growth supplemented by selective acquisitions that complement its lending expertise and technology infrastructure.

Investments are primarily directed toward technology modernization, risk management systems, and talent acquisition in specialized lending areas. The company does not operate as a diversified investment holding firm and does not maintain a broad portfolio of unrelated equity investments; instead, strategic capital deployment is closely aligned with its core banking operations and regulatory requirements.

Geographic Footprint

The company is headquartered in Indiana, with executive offices in Fishers, Indiana, and operates without traditional retail branches. Despite its headquarters location, First Internet Bancorp maintains a nationwide U.S. market presence, serving customers across multiple states through online platforms and relationship-based commercial banking teams.

Lending and deposit activities are diversified across major U.S. regions, including the Midwest, Southeast, Northeast, and Western United States, depending on product type. The company does not maintain international banking operations or foreign subsidiaries, and its geographic influence is concentrated entirely within the United States.

Leadership & Governance

First Internet Bancorp is led by an executive team with experience in banking, risk management, and digital financial services. The leadership philosophy emphasizes prudent risk management, regulatory compliance, and sustainable growth while leveraging technology to enhance customer service and operational efficiency. Governance is overseen by a board of directors with backgrounds in finance, public policy, and corporate leadership.

Key executives include:

• David B. Becker – Chairman of the Board and Chief Executive Officer
• Nicole A. Lorch – President and Chief Operating Officer
• R. Scott McCullough – Executive Vice President and Chief Financial Officer
• James R. Reilly – Executive Vice President and Chief Lending Officer
• Daniel A. Simmons – Executive Vice President and Chief Risk Officer