SCHEDULE: Vanguard Group Discloses 4.93% Passive Stake in First Internet Bancorp

The Vanguard Group has disclosed a 4.93% beneficial ownership stake in First Internet Bancorp, holding 429,393 shares of common stock as of June 30, 2025.

Summary

• The Vanguard Group reported beneficial ownership of 429,393 shares of First Internet Bancorp common stock.
• This ownership represents 4.93% of the total class of securities.
• Vanguard holds sole dispositive power over 420,793 shares and shared dispositive power over 8,600 shares.
• The firm has shared voting power over 5,317 shares, with no sole voting power.
• This filing is an Amendment No. 1 to a previously filed Schedule 13G.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of a passive investment by a major institutional investor. While the presence of a large investor like Vanguard can be seen as a positive signal of confidence, the filing itself contains no new strategic or financial information about the issuer, making its direct sentiment impact neutral to slightly positive.

Positives

• A major institutional investor, The Vanguard Group, holds a significant stake, indicating potential long-term confidence in First Internet Bancorp.

Negatives

• The stake is below the 5% threshold, meaning Vanguard is not required to disclose more detailed intentions or activist positions, and its investment is passive.

Risks

• The Vanguard Group's investment is passive, indicating no intention to influence or change control of First Internet Bancorp, which means they will not actively push for strategic changes.

Future Outlook

The Vanguard Group stated that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of First Internet Bancorp.

Management Comments

• The Vanguard Group certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

The disclosure reflects a standard passive investment by a large asset manager, The Vanguard Group, in a regional banking institution, First Internet Bancorp. Such filings are common as institutional funds manage diversified portfolios across various sectors, including financial services.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's passive stake.

Next Steps

• The Vanguard Group will file subsequent amendments to this Schedule 13G if its beneficial ownership percentage changes significantly.

Key Dates

Recommendation

The Schedule 13G filing by The Vanguard Group is a routine disclosure of a passive investment and does not contain new financial or operational information about First Internet Bancorp that would warrant a change in investment recommendation. The holding of a major institutional investor is generally a neutral to slightly positive signal, suggesting a 'hold' position is appropriate based solely on this filing.

Keywords

First Internet Bancorp, Vanguard Group, Schedule 13G, Beneficial Ownership, Common Stock, Financial Services, Banking, Investment Management