SCHEDULE 13G/A: BlackRock Amends Disclosure, Confirms 6.2% Stake in First Internet Bancorp

BlackRock, Inc. has filed an amended Schedule 13G, reaffirming its beneficial ownership of 6.2% of First Internet Bancorp's common stock as of March 31, 2025.

Summary

• BlackRock, Inc. reported beneficial ownership of 540,992 shares of First Internet Bancorp's common stock.
• This ownership represents 6.2% of the total outstanding common stock of First Internet Bancorp.
• BlackRock holds sole voting power over 533,251 shares and sole dispositive power over 540,992 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• Several BlackRock subsidiaries are identified as entities that beneficially own shares, including BlackRock Advisors, LLC, BlackRock Asset Management Canada Limited, BlackRock Fund Advisors, BlackRock Institutional Trust Company, National Association, BlackRock Financial Management, Inc., and BlackRock Investment Management, LLC.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive for First Internet Bancorp as it indicates a significant, passive investment by a major institutional player like BlackRock, suggesting investor confidence. For BlackRock, it's a routine compliance filing.

Positives

• The disclosure of a significant stake by a major institutional investor like BlackRock, Inc. can signal confidence in First Internet Bancorp's long-term prospects.
• BlackRock's statement that the shares are held in the ordinary course of business suggests a passive investment, reducing concerns about potential activist interventions.

Risks

• The document itself, being a compliance filing, does not detail specific risks related to First Internet Bancorp's operations or financial health. It focuses solely on beneficial ownership.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding First Internet Bancorp's future performance or BlackRock's future investment intentions beyond the current ownership disclosure.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

The filing highlights continued institutional interest in First Internet Bancorp, a financial institution. BlackRock, as one of the world's largest asset managers, frequently holds significant passive stakes in publicly traded companies across various sectors, including banking and financial services. This disclosure is a routine compliance update reflecting their ongoing investment in the sector.

Corporate Governance

Stakeholder Impact

• Shareholders: The filing provides transparency regarding a significant institutional holder, which can influence investor perception and confidence.
• Regulatory Authorities: The filing fulfills SEC disclosure requirements for beneficial ownership.

Key Dates

Keywords

BlackRock, First Internet Bancorp, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Financial Services, Banking