The Board of Directors of First Internet Bancorp has authorized a new stock repurchase program with an aggregate purchase price of up to $25M. The Program is scheduled to expire on December 31, 2023, and replaces the company’s previously announced stock repurchase program. The Program permits the company to acquire shares of its common stock from time to time in the open market or in privately negotiated transactions at prices management considers to be attractive and in the best interest of the company and its shareholders. The Program does not obligate the company to repurchase shares of its common stock, and there is no assurance that it will do so.
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