Signs that Internet banks are reaching adolescence are starting to sprout.

Two Internet banks are now among the more than 350 that have become financial holding companies under the Gramm-Leach-Bliley Act. The designation lets and Clarity Holdings Inc. create subsidiaries that could engage in activities such as securities trading, insurance underwriting, and merchant banking. A third Internet bank, Allentown, Pa.-based American Bank, is awaiting approval of its holding company application.

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