First Internet Bancorp to Acquire Small Business Lending Division
First Internet Bancorp (INBK)
Last first internet bancorp earnings: 4/22 04:52 pm
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US:NASDAQ Investor Relations:
firstinternetbancorp.com/tearsheet.aspx?iid=4112285
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Source: Business Wire
FISHERS, Ind.--(BUSINESS WIRE)-- First Internet Bancorp (“First Internet” or the “Company”) (Nasdaq:INBK) announced today that its subsidiary, First Internet Bank (the “Bank”), has entered into a loan and asset purchase agreement (the “Agreement”) to acquire the small business lending division (the “SBA Division”) of First Colorado National Bank (“First Colorado”). As of March 31, 2019, the balance of loans outstanding to be acquired was approximately $39.0 million, comprised primarily of SBA 7(a) loans. The Bank will also acquire a servicing portfolio consisting of guaranteed SBA 7(a) loans sold in the secondary market, which had a balance of approximately $112.0 million as of March 31, 2019. The SBA Division professionals joining the Bank include loan production, credit, portfolio management and servicing personnel and operate out of two Chicago-area offices as well as one Indianapolis-area office.
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- First Internet Bancorp (NASDAQ: INBK) had its "market perform" rating re-affirmed by analysts at Keefe, Bruyette & Woods. They now have a $36.00 price target on the stock, up previously from $34.00.MarketBeat
- First Internet Bancorp (NASDAQ: INBK) had its price target lowered by analysts at Hovde Group from $38.50 to $38.00. They now have an "outperform" rating on the stock.MarketBeat
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INBK
Earnings
- 4/24/24 - Beat
INBK
Analyst Actions
- 4/26/24 - Keefe, Bruyette & Woods
INBK
Sec Filings
- 4/24/24 - Form 8-K
- 3/28/24 - Form DEFA14A
- 3/28/24 - Form DEF
- INBK's page on the SEC website