SCHEDULE: Vanguard Group Reports 0% Stake in First Internet Bancorp

The Vanguard Group has reported 0% beneficial ownership in First Internet Bancorp following an internal realignment, disaggregating its reporting from certain subsidiaries.

Summary

• An Amendment No. 1 to Schedule 13G was filed for First Internet Bancorp Common Stock.
• The Vanguard Group reported 0% beneficial ownership of First Internet Bancorp Common Stock.
• This change stems from an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain Vanguard subsidiaries or business divisions will now report beneficial ownership separately, on a disaggregated basis, from The Vanguard Group, Inc.
• The Vanguard Group, Inc. no longer holds, or is deemed to hold, beneficial ownership over securities now reported by these disaggregated entities.
• The CUSIP number for the securities is 320557101.
• The event requiring this filing occurred on March 13, 2026, with the statement filed on March 26, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing. The change in beneficial ownership to 0% by The Vanguard Group is explicitly stated as an internal realignment, not a divestment of the underlying investment from the broader Vanguard ecosystem, thus it has no direct positive or negative implications for First Internet Bancorp's fundamentals.

Future Outlook

No forward-looking statements or guidance regarding First Internet Bancorp's operations or financial performance are provided in this administrative filing.

Management Comments

• Ashley Grim, Head of Global Fund Administration for The Vanguard Group, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

StockSavvy.ai notes that internal realignments within large asset managers like The Vanguard Group are common and often reflect organizational restructuring or changes in reporting methodologies rather than a strategic divestment from a particular issuer. This disaggregated reporting aligns with SEC guidance for complex institutional structures.

Comparison to Industry Standards

• This filing is an administrative update reflecting an internal organizational change at Vanguard, not a performance-based assessment of First Internet Bancorp. Therefore, direct comparison to industry-specific performance benchmarks or competitor results is not applicable.

Stakeholder Impact

• Shareholders of First Internet Bancorp may initially perceive a large institutional holder reducing its stake to 0% as a negative signal, but the explanation of an internal realignment suggests no change in the underlying investment thesis from Vanguard's broader managed funds. Employees, customers, suppliers, and creditors of First Internet Bancorp are unlikely to be directly impacted by this administrative reporting change.

Key Dates

Recommendation

The filing is an administrative update from The Vanguard Group regarding an internal realignment of its reporting structure, resulting in 0% beneficial ownership reported by the parent entity. It does not reflect a change in investment thesis or a divestment of the underlying assets from Vanguard's broader managed funds. Therefore, it provides no new fundamental information to warrant a change in investment recommendation for First Internet Bancorp.

Keywords

First Internet Bancorp, Vanguard Group, Schedule 13G, beneficial ownership, internal realignment, common stock, SEC filing, institutional ownership