First Internet Bancorp Stock Price, News & Analysis

First Internet Bancorp 6.0% Fixed-to-Floating Rate Subordinated Notes due 2029 (INBKZ) are a debt security issued by First Internet Bancorp, a financial holding company incorporated in Indiana. According to an SEC filing, these notes are listed on The Nasdaq Stock Market LLC under the symbol INBKZ and are described as 6.0% Fixed to Floating Subordinated Notes due 2029.

The notes are subordinated obligations of First Internet Bancorp, meaning they rank below certain other obligations of the issuer in the capital structure. As indicated in the SEC filing, INBKZ is associated with First Internet Bancorp, whose common stock is also registered with the SEC. The filing identifies the company as an Indiana corporation with a Commission File Number of 001-35750 and a federal employer identification number of 20-3489991.

First Internet Bancorp conducts its banking activities through its wholly owned subsidiary, First Internet Bank of Indiana (referred to in the filing as the "Bank"). In the referenced Form 8-K, the company reports on a transaction involving the sale of a loan portfolio by the Bank to entities affiliated with Blackstone Real Estate Debt Strategies. While this transaction primarily concerns the Bank, the filing also lists the INBKZ notes among the securities registered on The Nasdaq Stock Market LLC.

The INBKZ notes feature a fixed-to-floating rate structure, as reflected in their full title. The filing identifies them specifically as 6.0% Fixed to Floating Subordinated Notes due 2029, which indicates that the interest terms include an initial fixed rate and a subsequent floating rate component, although the detailed terms are not described in the provided excerpt.

First Internet Bancorp is associated with the state commercial banks sector, based on the sector classification provided. The Form 8-K excerpt shows that the company files periodic and current reports with the U.S. Securities and Exchange Commission and indicates that it is not an emerging growth company, as the corresponding checkbox is not selected.

According to the Form 8-K, First Internet Bancorp and its Bank subsidiary engage in activities such as entering into a Loan Portfolio Purchase Agreement and servicing loans under a servicing agreement. These activities are part of the broader banking and lending operations that form the context in which the INBKZ subordinated notes exist as one of the company’s registered securities.

Investors researching INBKZ can use this context to understand that the notes are tied to the financial condition and regulatory reporting of First Internet Bancorp, as disclosed in its SEC filings. The notes’ listing on Nasdaq and their identification as subordinated debt are key structural characteristics highlighted in the available regulatory information.