First Internet Bancorp Announces New Quarterly Dividend
First Internet Bancorp Declares Quarterly Cash Dividend
First Internet Bancorp (Nasdaq: INBK) is excited to announce that its Board of Directors has officially declared a quarterly cash dividend of $0.06 per common share. This decision reflects the company's ongoing commitment to providing value to its shareholders. The dividend payout is scheduled for October 15, 2024, and will be available to shareholders who are on record as of September 30, 2024.
Factors Influencing Future Dividends
The company noted that determining the declaration and the amount of any future cash dividends will be entirely at the discretion of the Board of Directors. Various factors play a significant role in these decisions. Key considerations include the company's operational outcomes, overall financial health, capital needs, as well as regulatory and contractual obligations. The company's business strategy and additional factors can also greatly influence dividend announcements.
About First Internet Bancorp
First Internet Bancorp operates as a bank holding company with a robust asset portfolio, boasting total assets of approximately $5.3 billion as of mid-2024. Established in 1999, the company has been a pioneer in providing banking services without traditional brick-and-mortar locations. Its subsidiary, First Internet Bank, offers a wide range of financial services across the nation. These services include consumer and small business deposits, SBA financing, franchise finance, and various consumer loans.
Comprehensive Financial Services
First Internet Bank specializes in commercial real estate loans, construction loans, commercial and industrial loans, alongside treasury management services tailored for regional markets. The convenience of these services positions First Internet Bancorp to cater effectively to its clients' diverse needs.
Stock Performance and Market Presence
First Internet Bancorp's common stock is traded on the Nasdaq Global Select Market under the ticker symbol “INBK.” The company is also a member of the Russell 2000 Index, illustrating its standing in the market. These affiliations not only enhance the company's credibility but also signify its resilience and growth potential in the banking industry.
Looking Ahead
As First Internet Bancorp continues to navigate through various operational challenges and market conditions, the company remains committed to upholding its promise of delivering value to its shareholders. Ongoing assessments of the company's financial conditions and strategic decisions will shape its future direction.
Frequently Asked Questions
What is the amount of the declared dividend by First Internet Bancorp?
The declared quarterly cash dividend is $0.06 per common share.
When will the dividend be paid?
The dividend will be payable on October 15, 2024, to shareholders of record as of September 30, 2024.
What factors influence the decision on future dividends?
Future dividends are determined by the Board of Directors and depend on the company’s financial performance, capital needs, and other relevant factors.
Under what stock symbol does First Internet Bancorp trade?
First Internet Bancorp trades on the Nasdaq under the symbol “INBK.”
What services does First Internet Bank provide?
First Internet Bank provides various services, including consumer and small business loans, SBA financing, deposit accounts, and a range of commercial financial services.
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