Record year for First Internet Bank
FISHERS, Ind. (Inside INdiana Business) — Fishers-based First Internet Bancorp (Nasdaq: INBK) is reporting record full-year net income of $25.2 million, up from $21.9 million the previous year. Chief Executive Officer David Becker says the growth was driven partially by strong production in commercial and consumer loans, as well as a lower interest rate environment.
The bank is also reporting record fourth quarter net income of $7.1 million, compared to $3.6 million during the same period in 2018. Becker says the bank continues to see growth opportunities in 2020.
“In 2019, we made significant progress with our expansion into small business banking, capitalizing on attractive opportunities on both sides of our balance sheet,” Becker said in a news release. “During the fourth quarter, we completed our acquisition of the small business lending division of First Colorado National Bank. This transaction, combined with the experienced professionals we brought on board during the year, positions us to accelerate our efforts to build a nationwide platform that offers a full suite of services to small business entrepreneurs.”
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