First Internet Bancorp (NASDAQ: INBK), parent company of First Internet
Bank of Indiana (www.firstib.com),
a premier provider of online retail and business banking services
nationwide, today announced its Board of Directors has declared a
dividend for the first quarter of 2013 of $0.06 per common share payable
on April 15, 2013, to shareholders of record at the close of business on
April 1, 2013.
The Company previously announced a special dividend of $0.25 per common
share in payable on December 28, 2012, which was the first dividend in
its history. The Company expects to continue paying cash dividends on a
quarterly basis; however the payment and amount of any future dividends
will be determined by the Board on the basis of the Company’s financial
condition, earnings, regulatory constraints and other factors.
David Becker, Chairman and CEO, stated: “Our financial performance has
been strong over the past two years and has enabled First Internet to
continue to reward its loyal shareholders in the form of a cash
dividend. In a time when it’s difficult for investors to find
investments that generate meaningful returns, we feel dividends are an
important way to add value to an equity investment.”
The Company reported record financial results for 2012, which included
76% year-over-year growth in net income, 8.7% asset growth to $636.37
million at December 31, 2012, and a 10.8% increase in tangible book
value to $29.46 per share at December 31, 2012.
The Company also announced the availability of a Dividend Reinvestment
and Stock Purchase Plan (the “Plan”), which provides shareholders a
simple and convenient means of reinvesting cash dividends and making
additional cash purchases of common stock on a quarterly basis without
incurring brokerage fees.
For more information on the Plan, shareholders should contact Registrar
and Transfer Company, which administers the Plan, keeps records, and
sends statements of account to participants. Plan enrollment cards may
be obtained at any time by contacting the Plan administrator and are
available at the administrator’s website at www.rtco.com.
Shareholders may also opt to receive direct deposit of any future
dividends to a checking or savings account by contacting the Plan
administrator.
About First Internet Bancorp
First Internet Bancorp (NASDAQ: INBK) is the parent company of First
Internet Bank of Indiana. First Internet Bank opened for business in
1999. The Bancorp became the parent of the Bank effective March 21, 2006.
About First Internet Bank
First Internet Bank of Indiana (http://www.firstib.com)
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 Internet Bank
also offers consumer loans, conforming mortgages, jumbo mortgages, home
equity loans and lines of credit, and commercial loans. The bank is a
wholly owned subsidiary of First
Internet Bancorp.
Safe Harbor Statement
This press release may contain forward-looking statements with
respect to the financial condition, results of operations, plans,
objectives, future performance or business of the Company. Forward-looking
statements are generally identifiable by the use of words such as
“believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,”
“will,” “would,” “could,” “should” or other similar expressions.
Forward-looking statements are not a guarantee of future performance or
results, are based on information available at the time the statements
are made and involve known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from the
information in the forward-looking statements. Factors that may
cause such differences include: risks associated with the regulation of
financial institutions and holding companies, including capital
requirements and the costs of regulatory compliance; failures or
interruptions in communications and information systems; general
economic conditions and conditions in the lending markets; competition;
the plans to grow commercial lending; the loss of key members of
management and other matters discussed in the press release. All
statements in this press release, including forward-looking statements,
speak only as of the date they are made, and the Company undertakes no
obligation to update any statement in light of new information or future
events.
