5 star ratingAverage User Rating:
5 star rating based on 1 review.

First Internet Bank of IN

First Internet Bank of IN Locations
9200 Keystone Crossing, Suite 800
Indianapolis, IN 46240
1.888.873.3424
www.firstib.com

FDIC
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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Also, Another Reason I Haven't Switched Yet Is That Fibidoesn'trequire"Transactions" Such Asa (Forum) - 2/20/2010

Also, another reason I haven't switched yet is that FIBI doesn't require "transactions" such as a certain number of debit card transactions to earn interest on your money, or direct deposit payroll, or any other requirements



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See Rates for: Checking | Savings | Money Market | CD | IRA

First Internet Bank of IN Checking Account Rates

ApyMinMaxProduct
0.55%$500-Interest Checking

First Internet Bank of IN Savings Account Rates

ApyMinMaxProduct
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

ApyMinMaxProduct
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 CD Rates

ApyMinMaxProduct
1.60%$1k-60 Month CD
1.60%$1k-Business 60 Month CD
1.25%$1k-48 Month CD
1.25%$1k-Business 48 Month CD
1.10%$1k-36 Month CD
1.10%$1k-Business 36 Month CD
0.95%$1k-24 Months CD
0.95%$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

ApyMinMaxProduct
1.60%--60 Month IRA
1.60%--60 Month Roth IRA
1.60%--60 Month CESA
1.25%--48 Month IRA
1.25%--48 Month Roth IRA
1.25%--48 Month CESA
1.10%--36 Month IRA
1.10%--36 Month Roth IRA
1.10%--36 Month CESA
0.95%--24 Month IRA
0.95%--24 Month Roth IRA
0.95%--24 Month CESA
0.90%--18 Month IRA
0.90%--18 Month Roth IRA
0.90%--18 Month CESA
0.85%--12 Month IRA
0.85%--12 Month Roth IRA
0.85%--12 Month CESA

Rates updated: 6/18/2013

Data for Q1 2013


Institution Statistics


First Internet Bank of Indiana
FDIC Certificate #34607
BankRate ReportView
Year Established1998
Employees114
Primary RegulatorFDIC

Assets and Liabilities

Assets$650.07 million
Loans$418.22 million
Deposits$547.03 million
Equity Capital$62.05 million
Loan Loss Allowance$5.75 million
Unbacked Noncurrent Loans$3.77 million
Real Estate Owned$4.21 million

Historic Data - March 2012

Assets$610.53 million
Equity Capital$55.61 million
Loan Loss Allowance$5.79 million
Unbacked Noncurrent Loans$8.85 million
Real Estate Owned$1.46 million

Profit Margin - Quarterly

Net Interest Margin2.56%
Return on Assets1.16%
Return on Equity12.21%
Interest Income$5.84 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio4
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 March 31, 2013 First Internet Bank of IN had $7.98 million in non-current loans and owned real-estate with $67.8 million in equity and loan loss allowances on hand to cover it. This gives First Internet Bank of IN a Texas Ratio of 11.77% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for First Internet Bank of IN decreased slightly from 16.79% as of March 31, 2012 to 11.77% as of March 31, 2013, resulting in a positive change of 29.90%.This indicates that the balance sheet and financial strength for First Internet Bank of IN has improved slightly in recent periods.
Deposit Growth5
In the past year, First Internet Bank of IN has increased its total deposits by $35.56 million, resulting in 6.95% 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.
Capitalization4
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 $650.07 million in assets with $67.8 million in equity, resulting in a capitalization level of 10.43%, which is above average.
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I've Been Using FIBI Since 2002 And They Have Always Had Outstandingcustomer Service
5 stars - Anonymous - Saturday, February 20, 2010 - 10:16 AM

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. 

3
 
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