First Internet Bancorp Announces Full Exercise of Underwriters' Over-Allotment Option

First Internet Bancorp (the "Company") INBK, the parent company of First Internet Bank (www.firstib.com), today announced that the underwriters for its previously announced public offering of the Company's 6.0% Fixed-to-Floating Rate Subordinated Notes due 2029 (the "Notes") exercised their over-allotment option in full. The additional Notes were issued in a closing on June 19, 2019 and the Company received an additional $2.0 million in gross proceeds, exclusive of underwriting discounts and offering expenses payable by the Company, bringing the total gross proceeds from the offering to $37.0 million. Keefe, Bruyette & Woods, Inc., a Stifel Company, served as sole book-running manager for the offering of the Notes, and Janney Montgomery Scott, BB&T Capital Markets, Boenning & Scattergood, Inc. and William Blair served as co-managers.

The Notes are listed on the Nasdaq Global Select Market under the symbol "INBKZ."

This press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to sell the Notes, which is made only by means of a prospectus supplement and related prospectus, nor will there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About First Internet Bancorp

First Internet Bancorp is a bank holding company with assets of $3.7 billion as of March 31, 2019. The Company's subsidiary, First Internet Bank, opened for business in 1999 as an industry pioneer in the branchless delivery of banking services. The Bank provides consumer and small business deposit, consumer loan, residential mortgage, and specialty finance services nationally as well as commercial real estate loans, commercial and industrial loans, SBA financing and treasury management services. First Internet Bancorp's common stock trades on the Nasdaq Global Select Market under the symbol "INBK" and is a component of the Russell 2000® Index. Additional information about the Company is available at www.firstinternetbancorp.com and additional information about the Bank, including its products and services, is available at www.firstib.com.

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