First Internet Bancorp Makes Acquisition to Build SBA Business

First Internet Bancorp is about to complete their acquisition of First Colorado National Bank’s small business lending division; this deal will set up First Internet Bancorp to grow their SBA lending business that until now has been built slowly in their local market; First Internet Bancorp CEO David Becker tells American Banker about their plans to grow the division, “I can definitely see in the next 24 to 36 months we can build it up to the potential of being a $200 million-a-year operation.”; the growth target is an ambitious plan for the bank especially with the current government fighting going on over the Small Business Administration; the bank has also used fintech partnerships to grow other lending divisions as they look to scale their digital lending overall with more customers looking to use digital to take out loans. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.