First Internet Bank

First Internet Bank, also known as First Internet Bank of Indiana or First IB, is an American direct-banking institution headquartered in Fishers, Indiana. It was created during the early expansion of internet banking and was designed from the outset to operate without a conventional branch network. Its customer interactions were conducted primarily through online and telephone channels, making it one of the early state-chartered banks in the United States to pursue an exclusively digital and telephone-based operating model. The bank was founded in 1997 by David B. Becker. It was incorporated on October 28, 1998, and began operations on February 22, 1999. Its initial proposition centered on remote access, lower reliance on physical branches, and a product range that could be administered through electronic and telephone banking. The institution specialized in online retail banking and securities investment, positioning itself as a direct-bank alternative to traditional branch-based financial institutions. Its reported product range includes interest-bearing checking accounts; standard savings and money-market savings accounts; certificates of deposit; individual retirement accounts; credit cards; personal lines of credit; and installment loans. These products cover everyday deposits, savings, retirement-oriented accounts, time deposits, revolving credit, and personal borrowing. The bank's business model therefore extends beyond a basic online savings proposition, although the available reference material does not provide detailed information about current product terms, pricing, customer numbers, assets, or geographic distribution. First Internet Bank was initially privately capitalized by more than 300 individual and corporate investors. A corporate restructuring later changed its ownership: under a Plan of Exchange completed on March 21, 2006, the bank became a wholly owned subsidiary of First Internet Bancorp, an American bank holding company. The holding-company structure placed the bank within a broader corporate framework while retaining First Internet Bank as the customer-facing banking brand. The bank's historical significance is tied to its early adoption of a branchless delivery model. Rather than treating internet banking as an additional channel for an established branch franchise, First Internet Bank was organized around remote banking from inception. Its name and operating concept directly emphasize that digital-first identity. The available sources identify it as an active U.S. bank, but do not establish a current executive roster, official website URL, public listing status, financial results, or a detailed account of later strategic developments. Those fields are therefore left unspecified rather than inferred.

First Internet Bank emerged in the late 1990s, when internet connectivity was beginning to reshape the delivery of financial services. David B. Becker founded the institution in 1997 with a model that differed from the conventional community-bank format: instead of building a network of local branches and adding online access later, the bank was conceived to serve customers remotely through the internet and telephone. The institution was incorporated on October 28, 1998, and commenced operations on February 22, 1999. It became one of the early state-chartered U.S. banks to operate exclusively online and by telephone without physical branches. This structure made remote access central to the customer experience and allowed the brand to present itself as a direct-bank alternative to branch-based competitors. Its early business included online retail banking and securities investment. The bank offered a broad set of consumer financial products for a direct institution. These included interest-bearing checking, standard and money-market savings, certificates of deposit, individual retirement accounts, credit cards, personal lines of credit, and installment loans. The range combined transaction accounts, savings and time deposits, retirement products, and consumer credit, giving customers access to multiple banking functions through the bank's remote channels. At its formation, First Internet Bank was privately capitalized by more than 300 individual and corporate investors. Its ownership changed following a Plan of Exchange completed on March 21, 2006. That transaction made the bank a wholly owned subsidiary of First Internet Bancorp, an American bank holding company headquartered in Fishers, Indiana. First Internet Bank remained the operating bank and customer-facing brand within the holding-company structure. The available reference material does not document subsequent product launches, branch openings, major acquisitions, leadership changes, controversies, financial performance, or changes to the bank's digital operating model. It does establish the institution's continuing identity as a U.S. bank associated with online and telephone banking. Further research would be required to provide a current management list, regulatory profile, public-market information, detailed financial history, and present-day product specifications.

• 2006

  Becomes a First Internet Bancorp subsidiary

  [1]First Internet Banken.wikipedia.org

  A Plan of Exchange completed on March 21, 2006, made First Internet Bank a wholly owned subsidiary of First Internet Bancorp.

• 1999

  Operations begin

  [1]First Internet Banken.wikipedia.org

  First Internet Bank began operations on February 22, 1999, using an online- and telephone-based delivery model without physical branches.

• 1998

  Incorporation

  [1]First Internet Banken.wikipedia.org

  The bank was incorporated on October 28, 1998.

• 1997

  Bank founded

  [1]First Internet Banken.wikipedia.org

  David B. Becker founded First Internet Bank as a direct-banking institution intended to operate through online and telephone channels.

An early U.S. direct-bank brand built around online and telephone delivery, offering deposit, retirement, credit, and personal lending products without a traditional physical-branch network.

• Transaction accounts

  Interest-bearing checking accounts

  Checking accounts designed to combine everyday transaction functionality with an interest-bearing feature. They formed part of the bank's online retail-banking offering and were intended to be managed through remote banking channels.

• Deposit accounts

  Savings accounts

  The bank's savings range included standard savings accounts and money-market savings accounts. These products provided deposit-based saving options within its branchless online and telephone banking model.

• Time deposits

  Certificates of deposit

  Certificates of deposit were part of First Internet Bank's deposit product range. They represented time-based savings products offered alongside checking and savings accounts, although the reference material does not specify terms, maturities, or rates.

• Retirement savings

  Individual retirement accounts

  Individual retirement accounts extended the bank's direct-banking product set into retirement-oriented savings. The source identifies the product category but does not provide details about available account types, investments, contribution rules, or fees.

• Consumer credit

  Credit cards

  Credit cards were included among the bank's consumer financial products. They complemented the deposit accounts and allowed the institution to provide a revolving-credit product through its remote banking relationship.

• Consumer lending

  Personal lines of credit

  Personal lines of credit formed part of First Internet Bank's lending offering. The source does not state whether these facilities were secured or unsecured, nor does it provide limits, pricing, or eligibility requirements.

• Consumer lending

  Installment loans

  Installment loans were offered as personal borrowing products with repayment over time. They broadened the bank's consumer-lending capabilities beyond revolving credit, although detailed loan purposes and terms are not specified in the reference material.

• 2022.01.20

  Reported2022.01.20

  First Internet announces partnership with Synctera[2]First Internet 宣布与 Synctera 建立合作关系wishtv.com

  First Internet announced a partnership with Synctera, a California technology company that works with banks to expand their fintech services.

Read more

1. 1First Internet Banken.wikipedia.org
2. 2First Internet 宣布与 Synctera 建立合作关系wishtv.com