First Internet to raise $50M to support growth

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First Internet Bancorp in Fishers, Ind., plans to raise $50 million through a common stock offering.

The $2.9 billion-asset company said Wednesday that it plans to use the money for general corporate purposes, such as supporting organic growth, completing strategic acquisitions, repaying debt and financing investments.

Underwriters have 30 days to purchase up to 15% of the company’s common stock sold in the offering, First Internet said. First Internet launched in 1999 and completed an initial public offering 14 years later.

Keefe, Bruyette & Woods is the sole book-running manager for the offering. Sandler O’Neill, FIG Partners and Hovde Group are co-managers.

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