This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First Internet Bank Launches Asset-Based Lending Business Line

First Internet Bank of Indiana ( www.firstib.com), a premier provider of online retail and business banking services nationwide, today announced the expansion of its commercial lending capabilities through an asset-based lending line of business. Operating under the name First Internet Bank Business Capital, the new division will provide working capital to small- to medium-sized companies.

“We formed First Internet Bank Business Capital to complement our commercial loan efforts and to provide asset-based financing options in the amount of $2 million to $5 million,” said David Becker, President and CEO of First Internet Bank. “This new line of business allows us to serve a greater base of businesses and accelerates our growth by generating additional high quality assets.”

The asset-based lending group provides revolving lines of credit backed by accounts receivable and inventory as well as term loans backed by real estate and equipment. To lead this new initiative, Gregg Corey and Jennifer Eller have joined First Internet Bank and will operate from a loan production office in Portland, Oregon. “The combination of their depth of experience and an enthusiasm for helping their customers is considered the key to launching this initiative,” Becker stated.

Mr. Corey has over 30 years experience within asset based lending, commercial & industrial, and income property financing at US Bank, Textron Financial Corp, Congress Financial Corp and GE Capital. “Jennifer and I jumped at the chance to bring our experience to First Internet Bank,” said Corey. “The bank has a culture of entrepreneurship and profitable growth grounded in a foundation of strong asset quality. We are elated to have this opportunity to launch this new line of business for First Internet Bank and to continue to deliver creative financing solutions to lower middle market businesses.”

About First Internet Bank

First Internet Bank of Indiana opened for business in 1999 as the first state-chartered, FDIC-insured institution to operate solely via the Internet and today 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. Earlier this year, First Internet Bank was named one of the Best Places to Work in Indiana by the Indiana Chamber of Commerce. The bank is a wholly owned subsidiary of First Internet Bancorp (NASDAQ: INBK).

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs