First Internet Hits Funding Goal

First Internet Bancorp was established in 1999 as the first state-chartered

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Fishers-based First Internet Bancorp (Nasdaq: INBK) has completed the common stock offering announced earlier this week. The parent of First Indiana Bank says it has achieved its goal of raising more than $20 million, some of which may be used to repay existing debt.

First Internet says the amount raised through the offering is after underwriting discounts and expenses. The company offered nearly 900,000 shares of its common stock at $24 per share.

The company said earlier this week that some of the proceeds may also be used to contribute capital to First Internet Bank to "support organic growth."