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First Internet Bancorp completes share-buyback program

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First Internet Bancorp completes share-buyback program

First Internet Bancorp completed its stock repurchase program, buying back 274,658 shares in the third quarter at an average price of $20.57 per share.

Since the repurchase program's start in December 2018, the company has repurchased 482,970 shares at an average price of $20.70 per share for $10.0 million. The program was set to expire Dec. 31.

The Fishers, Ind.-based bank holding company posted third-quarter net income of $6.3 million, or 63 cents per share, compared to $6.3 million, or 61 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus estimate for third-quarter EPS was 61 cents.