First Internet Bancorp (OTCQB:FIBP), parent company of First Internet Bank of Indiana (www.firstib.com), a premier provider of online retail and business banking services nationwide, today announced that it has applied to list its common stock on the NASDAQ Capital Market. In connection with the application, the company filed a registration statement on Form 10 with the Securities and Exchange Commission on November 30, 2012. The registration statement is accessible at SEC.gov. The company's listing application is subject to review and approval by NASDAQ's listing qualifications department for compliance with all NASDAQ Capital Market standards.
David Becker, chairman and CEO, stated: "The Board of Directors believes that our plan to move from the over-the-counter market to a national exchange will enhance the trading market for our stock and provide a long-term benefit to our shareholders. We expect the process will be completed sometime next year."
About First Internet Bancorp
First Internet Bancorp (OTCQB: FIBP), the parent company of First Internet Bank of Indiana ("First IB"), is privately capitalized with over 220 private and corporate investors. First IB opened for business in 1999. First Internet Bancorp became the parent of First IB effective March 21, 2006.
About First Internet Bank of Indiana
First IB 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 IB also offers consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. First IB is a wholly owned subsidiary of First Internet Bancorp.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the Company's plans to list its common stock on the NASDAQ Capital Market. 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: the Company's ability to meet all of the requirements for listing on the NASDAQ Capital Market; 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.