(INBK) Closing of Upsized Public Offering, Exercise of Over-Allotment Option

First Internet Bancorp (NASDAQ: INBK), the parent company of First Internet Bank of Indiana (the “Bank”), today announced the closing of its underwritten public offering of 1,587,000 shares of its common stock, including 207,000 shares issued pursuant to the underwriters’ 30-day option, at a price to the public of $20.00 per share. The net proceeds of the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $29.1 million.

Sandler O’Neill + Partners, L.P. served as sole book-running manager of the offering, and Keefe, Bruyette & Woods, Inc. acted as co-manager. Faegre Baker Daniels LLP served as legal counsel to the Company. Patton Boggs LLP served as legal counsel to the underwriters.

A registration statement relating to these securities has been filed with, and declared effective by the U.S. Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale of securities would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The offering was made only by means of a prospectus, copies of which may be obtained from Sandler O’Neill + Partners, L.P., 1251 Avenue of the Americas, 6^th Floor, New York, NY 10020, (866) 805-4128. The registration statement may also be accessed through the SEC’s website.

First Internet Bancorp

First Internet Bancorp (NASDAQ: INBK) is the parent company of First Internet Bank of Indiana (www.firstib.com), a premier provider of online retail and business banking services nationwide. First Internet Bank opened for business in 1999. The Bancorp became the parent of the Bank effective March 21, 2006.

About First Internet Bank of Indiana

First Internet Bank of Indiana is the first state-chartered, FDIC-insured institution to operate solely via the Internet and has customers in all 50 states. Deposit services include checking accounts, regular and money market savings accounts, CDs and IRAs. First Internet Bank also offers consumer loans, conforming mortgages, jumbo mortgages, home equity loans and lines of credit, and commercial loans. This year, First Internet Bank was named one of the Best Places to Work in Indiana by the Indiana Chamber of Commerce, one of the Best Banks to Work For by American Banker Magazine, and the top Online Originator by Mortgage Technology. The Bank is a wholly owned subsidiary of First Internet Bancorp.