Faegre Drinker Advises First Internet Bancorp in Private Placement of $20.5 Million of 8.0% Fixed-to-Floating Rate Subordinated Notes

Faegre Drinker advised First Internet Bancorp (Nasdaq: INBK), the parent company of First Internet Bank, in a private placement of $20.5 million aggregate principal amount of 8.0% fixed-to-floating rate subordinated notes due 2036. 

The notes are intended to qualify as Tier 2 capital, and the proceeds from the sale are expected to support the company's general corporate needs, including the potential redemption or retirement of existing indebtedness.

First Internet Bancorp is an Indiana-based bank holding company with $5.6 billion in assets as of June 30, 2026. First Internet Bank provides consumer and small business deposits, commercial real estate and construction financing, SBA financing, public finance, consumer loans, and specialty finance services nationally, as well as commercial and industrial loans and treasury management services on a regional basis.

The Faegre Drinker team was led by corporate partner Joshua Colburn and included Amanda Ibrahim, Yona Isaacs, and Brandon Mason, with support from Abyen Aden, Janelle Blankenship, and Amra Hoso.

Read First Internet Bancorp’s press release for more information on the deal.