First Internet Bancorp (INBK) Earnings Call Transcript & Summary

Good afternoon, and welcome to the 2021 Annual Meeting of Shareholders of First Internet Bancorp. Most shareholders have already voted by proxy, and the proxy votes have been tallied. If you are a shareholder of record or a beneficial shareholder possessing a legal proxy from your bank or broker and you want to vote your shares now or change your vote, you may do so during the meeting by clicking on the voting button at the bottom right corner of the webcast screen. Questions received during the meeting may not be answered live. But instead, the company may respond to such questions directly or through a posting on the company's website, following the completion of this meeting. I will now turn the floor over to David Becker. Please go ahead, sir.

Good afternoon, ladies and gentlemen. As Chairman, President and Chief Executive Officer of First Internet Bancorp, it is my privilege to serve as Chair of the 2021 Annual Meeting of Shareholders. C.P. Perfetti, our Executive Vice President and Corporate Secretary, will serve as secretary of the meeting. The meeting is called to order, and the polls are now open. All current members of First Internet's Board of Directors as well as our Director nominee, are attending today's meeting virtually. Those who have served with me on our Board in the past year include: Ana Dutra; John Keach; David Lovejoy; Michael Smith; Roy Whitney; Jerry Williams; and Jean Wojtowicz; our director nominees as of today. Also attending virtually are representative BKD, LLP, the company's independent registered public accounting firm; and Pete Sablich, who has been appointed to act as inspector for the meeting. I will now ask the operator to open the line for Mr. Perfetti, who will report on the details of today's meeting.

Thank you, David. This meeting is being held pursuant to proper notice. As of March 22, 2021, the record date for this meeting, there were 9,823,831 votes outstanding. The holders of the majority of the outstanding shares entitled to vote at this meeting are present in person or by proxy. Therefore, a quorum is present and the meeting can proceed. I will now turn the meeting back to you, Mr. Chairman.

Thank you, C.P. For all in attendance today, please note that the polls will be closed shortly. We have 3 items of business to address at this meeting. First, to elect 8 directors to serve until the next Annual Meeting of Shareholders. Each was introduced a moment ago and was also identified in the proxy statement for this meeting. Second, an advisory nonbinding vote to approve the compensation paid to our named executive officers. And third, to ratify the appointment of BKD, LLP, as our auditor for 2021. Our bylaws require advanced notice of nomination as well as any other items of business to be brought before this meeting. We did not receive notice of any other matters for consideration by the shareholders. [Voting]

The polls are now closed. C.P., please announce the preliminary results.

Thank you, Mr. Chairman. Each of the Director nominees received the plurality of the votes cast. The advisory vote to approve compensation of our named executive Officers received more votes for than against. The proposal to ratify the appointment of BKD LLP received more votes for than against. Mr. Chairman?

Thank you. Based on these preliminary results, I declare that all 8 nominees have been elected, our executive compensation has received an advisory approval, and the shareholders have ratified the appointment of BKD for 2021. We expect to report the final voting results on a Form 8-K. All SEC filings can be found at www.firstinternetbancorp.com. I encourage all of you to visit the sites to stay up-to-date with our company's quarterly performance, our digital annual report and other news. I also welcome each of you to attend our quarterly webcast, in which we discuss our financial results and other operational highlights. Dates and times are posted on our website in advance, and a replay of the calls will be available on our site, if you are not able to attend live. With no further business having been properly brought before the meeting, this meeting is hereby adjourned. Our contact information is on the screen. Please feel free to reach out if you would like any assistance or would like more information. I thank you very much for attending our meeting today.

Thank you for attending. You may now disconnect.