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888-873-3424
8888 Keystone Crossing, # 17
Indianapolis, IN 46240

First IB operates over the Internet, which means they don’t have a costly branch network to support. Translation: their customers get better rates, lower fees, and convenient account access through their online banking and telephone banking systems.

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Reviews (1)

I've Been Using FIBI Since 2002 And They Have Always Had Outstandingcustomer Service

I've been using FIBI since 2002 and they have always had outstanding customer service.  Need to maintain only a $500 "average" balance during a month to earn interest on money sitting in your acct.  For a rare month when my avg monthly balance was less than $500, the "monthly minimum" fee is ONLY $10, which is far less than at other banks that have higher min account balance requirements.  It's the reason why I don't switch to another bank that pays a slighly higher interest rate -- until the interest rate difference is large, it's just not worth it for me to switch and get my money locked in to higher account balance minimum requirements for a checking account.

Free checking, debit/ATM card, etc. 



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Internet Bank of IN had $6.23 million in non-current loans and owned real-estate with $80.22 million in equity and loan loss allowances on hand to cover it. This gives First Internet Bank of IN a Texas Ratio of 7.77% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for First Internet Bank of IN decreased dramatically from 12.12% as of December 31, 2012 to 7.77% as of December 31, 2013, resulting in a positive change of 35.86%.This indicates that the balance sheet and financial strength for First Internet Bank of IN has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, First Internet Bank of IN has increased its total deposits by $159.61 million, resulting in 30.03% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Internet Bank of IN has shown is excellent.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Internet Bank of IN has $800.87 million in assets with $80.22 million in equity, resulting in a capitalization level of 10.02%, which is above average.

Institution Statistics

Overall
FDIC Certificate #34607
Year Established1998
Employees130
Primary RegulatorFDIC
Assets and Liabilities
Assets$800.87 million
Loans$528.34 million
Deposits$691.08 million
Equity Capital$74.79 million
Loan Loss Allowance$5.43 million
Unbacked Noncurrent Loans$1.85 million
Real Estate Owned$4.38 million
Historic Data - December 2012
Assets$636.09 million
Equity Capital$60.54 million
Loan Loss Allowance$5.83 million
Unbacked Noncurrent Loans$1.85 million
Real Estate Owned$3.67 million
Profit Margin - Quarterly
Net Interest Margin2.69%
Return on Assets0.83%
Return on Equity9.09%
Interest Income$25.68 million
Rates

Always verify rates and promotions with the bank or credit union. We are not First Internet Bank of IN, we are a rate comparison website and can not provide official rates or promotions.

First Internet Bank of IN Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.60%--Regular Savings
0.60%--Tomorrow's Tycoons
0.60%--Business Regular Savings
0.40%--Free Savings

First Internet Bank of IN Money Market Rates

DetailsAPYMINMAXPRODUCT
0.80%--Money Market Savings
0.80%--Money Market IRA
0.80%--Money Market Roth IRA
0.80%--Money Market CESA
0.60%--Business Money Market Savings

First Internet Bank of IN Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.55%$500-Interest Checking

First Internet Bank of IN CD Rates

DetailsAPYMINMAXPRODUCT
1.65%$1k-60 Month CD
1.65%$1k-Business 60 Month CD
1.30%$1k-48 Month CD
1.30%$1k-Business 48 Month CD
1.15%$1k-36 Month CD
1.15%$1k-Business 36 Month CD
1.00%$1k-24 Months CD
1.00%$1k-Business 24 Month CD
0.90%$1k-18 Month CD
0.90%$1k-Business 18 Month CD
0.85%$1k-12 Month CD
0.85%$1k-Business 12 Month CD
0.60%$1k-6 Month CD
0.60%$1k-Business 6 Month CD
0.35%$1k-3 Month CD
0.35%$1k-Business 3 Month CD

First Internet Bank of IN IRA Rates

DetailsAPYMINMAXPRODUCT
1.65%--60 Month IRA (Traditional,Roth,CESA)
1.30%--48 Month IRA (Traditional,Roth,CESA)
1.15%--36 Month IRA (Traditional,Roth,CESA)
1.00%--24 Month IRA (Traditional,Roth,CESA)
0.90%--18 Month IRA (Traditional,Roth,CESA)
0.85%--12 Month IRA (Traditional,Roth,CESA)
Locations

First Internet Bank of IN is an Internet only bank and does not have branch locations. Its headquarters is located at 8888 Keystone Crossing, # 17 - Indianapolis, IN 46240