First Internet Bank Honored as 2024 Online Lender of the Year
First Internet Bank has achieved a significant milestone by being named the 2024 Online Lender of the Year, a prestigious recognition awarded by Coleman Report. This renowned publication is dedicated to covering the small business lending sector, and its annual awards celebrate outstanding performance in the industry.
Acknowledgment of Exceptional Service
This award highlights First Internet Bank's commitment to delivering excellent customer service paired with innovative technology. The bank has created a streamlined SBA loan process to empower small businesses throughout the nation. Their focus on providing flexible financing solutions has made them a leading choice for many entrepreneurs.
Leadership Commitment
Nicole Lorch, President and Chief Operating Officer of First Internet Bank, expressed pride in their SBA team’s accomplishments. "First Internet Bank is committed to helping business owners secure the capital they need to grow," she stated. Under her leadership, the bank has quickly positioned itself among the top ten lenders in the 7(a) program, showcasing its dedication to small business success.
Individual Recognitions within the Team
In addition to the overall award, Coleman Report also recognized two exceptional team members, Jared Johnson and Ben Woodward, as 2024 SBA Business Development Officers of the Year. Their contributions have significantly shaped the small business lending landscape, further elevating the bank’s reputation.
Remarkable Growth Trajectory
Since 2018, the First Internet Bank SBA team has seen extraordinary growth. With a substantial increase in loan volume, the bank has funded a staggering $610 million in 7(a) loans, representing a remarkable 44% uptick year over year. This growth has been accompanied by a 31% expansion of their SBA operations team, all aimed at enhancing the customer experience.
Commitment to Client Success
The bank’s focus on providing exceptional service and expertise ensures that clients can effortlessly secure the funding they require for their small business endeavors. The growth and accomplishments of First Internet Bank not only reflect its dedication to clients but also its influential role in the small business lending community.
About First Internet Bank
Established in 1999, First Internet Bank has been a trailblazer in delivering banking services without the traditional branch network. As of December 31, 2024, the bank boasts assets totaling $5.7 billion. It provides a variety of services, including consumer and small business deposits, consumer loans, specialty finance services, and SBA financing.
The bank also engages in commercial real estate and industrial loans, along with treasury management services, making it a comprehensive financial partner for businesses. Further insights into the available products and services can be found on their website. First Internet Bank operates as a wholly-owned subsidiary of First Internet Bancorp (Nasdaq: INBK) and is a Member FDIC.
Frequently Asked Questions
What recognition did First Internet Bank recently receive?
First Internet Bank was honored as the 2024 Online Lender of the Year by Coleman Report.
Who are the recognized team members of First Internet Bank?
Jared Johnson and Ben Woodward were named 2024 SBA Business Development Officers of the Year.
What is the significance of the Online Lender of the Year award?
This award recognizes excellence in customer service and innovative approaches in the small business lending sector.
How much has First Internet Bank increased its 7(a) loan production?
The bank's funded 7(a) loan production increased to $610 million, marking a 44% growth year over year.
When was First Internet Bank established?
First Internet Bank opened its doors in 1999, pioneering branchless banking services.
