FIRST INTERNET BANCORP ANNOUNCES FIRST QUARTER EARNINGS

INDIANAPOLIS, IN (April 23, 2007) - First Internet Bancorp (“Bancorp”) today announced net income of $688,245 for the quarter ended March 31, 2007, an increase of $165,492, or 32%, from the same quarter in the previous year.

Management attributed positive variances in net interest income, non-interest income, total loans, and total deposits primarily to the acquisition of Landmark Financial Corporation (“Landmark”) on January 1, 2007.  Prior to the acquisition, the Bancorp was a single-bank holding company.  Following the acquisition, the Bancorp maintains two operating subsidiaries: First Internet Bank of Indiana (First IB), which includes the operations of the former Landmark Savings Bank, FSB, and Landmark Mortgage Company.

Non-interest income for the Bancorp grew by $157,006, or 50%, as compared to the same quarter in the previous year.  “Landmark Mortgage Company provides the Bancorp a turnkey operation to enter the mortgage business,” said David Becker, Chairman and CEO of First Internet Bancorp.  “When we subsequently sell mortgage loans into the secondary market, we generate a healthy source of fee income, which we expect, over time, will improve our return on assets and return on equity,” said David Becker.

The Bancorp’s net loan portfolio grew by $57.1 million, or 19%, as compared to the same quarter in the previous year; of that, $49.6 million is attributable to the Landmark acquisition.  The Bancorp increased its provision expense by $211,767, or 50%, over 2006 levels, and has dedicated additional resources to address industry delinquency trends within the consumer loan area, where the Bank has historically focused its lending.  “The increased yield on these (consumer loan) credits brings increased credit risk. The Landmark acquisition has opened new lending channels to us while diversifying our credit risk,” Becker noted. He went on to comment, “There have been no measurable increases in mortgage delinquency, which we credit to sound underwriting and the absence of sub-prime mortgage loans in the portfolio.”

As of March 31, 2007, First IB held $431.6 million in deposits, a 31% increase from deposits held as of March 31, 2006, again primarily a result of the Landmark acquisition.

About First Internet Bancorp
First Internet Bancorp, the parent company of First Internet Bank of Indiana and Landmark Mortgage Company, is privately capitalized with over 250 private and corporate investors.  The Bancorp became effective March 21, 2006, and is listed on the OTC Bulletin Board (www.otcbb.com) under the symbol of "FIBP".

About First Internet Bank
With $530 million in assets, First Internet Bank of Indiana (First IB) is the first state-chartered, FDIC-insured institution to operate solely via the Internet and has customers in all 50 states. Services include interest-bearing checking accounts, regular and money market savings accounts with industry-leading interest rates, CDs, IRAs, credit cards, and check cards that can be used instead of cash or checks. First IB also offers personal lines of credit, installment loans, unique real-time transfers between accounts, and the ability to display checking, savings and loan information on a single screen. First IB is a wholly owned subsidiary of First Internet Bancorp.

About Landmark Mortgage Company
Landmark Mortgage Company operates from two locations in the metropolitan Indianapolis area providing various mortgage products and services to clients in central Indiana and beyond.  Landmark Mortgage Company is a wholly owned subsidiary of First Internet Bancorp.