First Internet Bancorp investors John and Susan Lame have jointly filed a Schedule 13D reporting beneficial ownership of several blocks of the bank’s common stock through a family trust, individual IRAs, Roth IRAs, and personal holdings. Individual positions include 149,224 shares in the John C. Lame IRA and 137,632 shares in the John C. Lame Roth IRA, each representing 1.72% and 1.58% of the class, respectively, based on 8,686,994 shares outstanding as of December 31, 2025.
The shares were acquired with the Reporting Persons’ own funds for investment purposes, and they state a belief that First Internet Bancorp’s value exceeds its current market price. They indicate an objective to profit from share price appreciation and plan to discuss shareholder returns and strategy for creating shareholder value with management, the board, and other shareholders. They may buy additional shares or sell shares over time depending on market conditions and their investment considerations.
First Internet Bancorp will hold its 2026 annual shareholder meeting virtually on May 18, 2026. Shareholders will vote to elect eight directors, approve an advisory say‑on‑pay resolution, and ratify Forvis Mazars, LLP as auditor. Shareholders of record on March 20, 2026, when 8,716,662 shares were outstanding, may vote.
The board is majority independent, uses separate audit, risk, compensation, and nominating committees, and emphasizes risk oversight and governance policies. Executive pay is structured around pay‑for‑performance with significant equity.
In 2025 the company sold about $851 million of lower‑coupon single‑tenant lease loans, which hurt reported earnings but was intended to strengthen capital and reduce interest rate sensitivity. As a result, named executives received no cash bonuses and forfeited all performance‑based RSUs scheduled to vest for the year. Despite this, 2025 operating metrics improved: total operating revenue reached $155 million, net interest income $114 million, fully tax‑equivalent net interest margin 2.09%, and adjusted pre‑provision net revenue $60 million. Fintech partnerships generated 135% revenue growth with $166 billion in annual payments volume, liquidity remained strong, and the bank ranked among the top SBA 7(a) lenders while tangible book value per share grew at a 6.3% ten‑year compound annual rate.
First Internet Bancorp amendment: The Vanguard Group files an amended Schedule 13G disclosing 0 shares of Common Stock beneficially owned, representing 0% of the class. The amendment explains an internal realignment on January 12, 2026 that caused certain Vanguard subsidiaries/divisions to report beneficial ownership separately.
First Internet Bancorp announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per common share. The dividend will be paid on April 15, 2026 to shareholders of record as of the close of business on March 31, 2026.
The company notes that any future dividends will be at the Board’s sole discretion and will depend on factors such as earnings, capital needs, regulatory limits, and overall financial condition. First Internet Bancorp reported $5.6 billion in assets as of December 31, 2025.
First Internet Bancorp director Joseph A. Fenech reported buying 1,000 shares of common stock in an open-market purchase on February 24, 2026, at a weighted-average price between $19.83 and $19.87 per share. Following this trade, he directly holds 10,102 shares. He also reports indirect ownership of 4,050 shares held by GenOpp Financial Fund LP, while stating that the filing is not an admission that he beneficially owns those securities.
First Internet Bancorp Executive Vice President and CFO Kenneth J. Lovik reported a routine insider transaction involving company common stock. On 01/31/2026, 1,116 shares of common stock at $21.79 per share were forfeited to satisfy tax withholding obligations tied to vesting restricted stock units. After this tax-related forfeiture, Lovik directly owned 51,733 shares of First Internet Bancorp common stock.
First Internet Bancorp furnished an update on its latest performance by issuing a press release with financial results for the quarter and year ended December 31, 2025. The company is also hosting a conference call and webcast on January 29, 2026, at 5:00 p.m. Eastern Time to discuss these results.
The press release is provided as Exhibit 99.1 and the accompanying electronic presentation slides as Exhibit 99.2. These materials are furnished, not filed, under securities law, meaning they are not automatically subject to certain liability provisions or incorporated into other regulatory documents unless specifically referenced.
First Internet Bancorp Executive Vice President & CFO Kenneth J. Lovik reported an equity award of 4,620 shares of common stock on January 20, 2026. The filing explains this represents a grant of restricted stock units (RSUs) under the First Internet Bancorp 2022 Equity Incentive Plan, with the RSUs scheduled to vest in substantially equal annual installments on January 31, 2027, January 31, 2028, and January 31, 2029.
After this grant, Lovik beneficially owns 52,849 shares of First Internet Bancorp common stock in direct form, which includes 328 shares acquired between February 28, 2025 and January 15, 2026 through the company’s Employee Stock Purchase Plan. The grant was reported at a price of $0 per share, reflecting its nature as an equity incentive award rather than an open-market purchase.
First Internet Bancorp reported that President and COO Nicole S. Lorch received an equity grant. On January 20, 2026, she was granted 8,084 shares of common stock at a price of $0, representing a grant of restricted stock units (RSUs) under the company’s 2022 Equity Incentive Plan. These RSUs are scheduled to vest in three substantially equal annual installments on January 31, 2027, January 31, 2028, and January 31, 2029, which means she will gain full ownership over time if service conditions are met. Following this grant, she beneficially owned 78,449 shares of common stock, which includes shares accumulated through the company’s dividend reinvestment and employee stock purchase plans.
First Internet Bancorp reported an insider equity award for its Chairman and CEO, David B. Becker. On January 20, 2026, he received a grant of 12,566 restricted stock units (RSUs) of the company’s common stock at a price of $0 per share under the First Internet Bancorp 2022 Equity Incentive Plan.
The RSUs are scheduled to vest in substantially equal annual installments on January 31, 2027, January 31, 2028 and January 31, 2029. After this grant, Becker beneficially owns 432,810 shares of common stock. This amount includes 657 shares acquired through the company’s Dividend Reinvestment and Stock Purchase Plan and 393 shares acquired through the Employee Stock Purchase Plan between October 31, 2025 and January 16, 2026.