First Internet Bancorp (NASDAQ:INBK) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02
Termination of a Material Definitive Agreement
Effective January 3, 2019, First Internet Bancorp (the “Company”) terminated its Sales Agency Agreement, dated May 6, 2016, with Sandler O’Neill & Partners, L.P. (“Sandler”), to which the Company could from time to time sell up to an aggregate of $25.0 million of shares of its common stock through an “at-the-market” equity offering program with Sandler acting as sales agent (the “ATM Program”). Prior to termination, the Company sold approximately $3.4 million of the $25.0 million available to be sold under the Sales Agency Agreement. The Company terminated the Sales Agency Agreement in connection with the expiration of the underlying registration statement. As such, no additional shares of the Company’s common stock will be sold to the Sales Agency Agreement. The Company will not incur any termination penalties as a result of its termination of the Sales Agency Agreement.
The foregoing description of the Sales Agency Agreement is not complete and is qualified by reference to the full text of the Sales Agency Agreement, a copy of which was filed as Exhibit 1.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 6, 2016 (file no. 001-35750) and is incorporated herein by reference.
About First Internet Bancorp (NASDAQ:INBK)
First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a complement of products and services on a nationwide basis. The Company conducts its deposit operations primarily over the Internet. The Company also offers commercial real estate (CRE) lending, including nationwide single tenant lease financing and commercial and industrial (C&I) lending, including business banking/treasury management services. The Bank provides commercial and retail banking services, with operations conducted on the Internet at www.firstib.com. It offers residential real estate loans, home equity loans and lines of credit, and consumer loans, and loans to commercial clients, which include commercial loans, commercial real estate loans, letters of credit and single tenant lease financing. The Bank’s subsidiary, JKH Realty Services, LLC manages real estate owned properties.
