FIRST INTERNET BANCORP ANNOUNCES SECOND QUARTER EARNINGS

INDIANAPOLIS, IN (August 6, 2007) - First Internet Bancorp (“Bancorp”) today announced net income of $846,662 for the quarter ended June 30, 2007, an increase of $64,570, or 8%, from the same quarter in the previous year.  Year to date earnings of $1,534,906 exceed prior year levels by $230,062 or 18%.

The Bancorp’s net loan portfolio grew by $46.8 million, or 15%, as compared to the same quarter in the previous year, primarily due to the Landmark acquisition.   "The contribution to the Bancorp’s results from the Landmark acquisition continues to meet and – in some ways, exceed – our pre-merger expectations," Becker noted. He went on to comment, "Despite some very real challenges in the local and national real estate mortgage markets, our loan production, secondary market loan sales and mortgage portfolio delinquency have remained at satisfactory levels."

Interest income increased by $532,494, or 22%, as compared to the same quarter in the previous year while non-interest income grew by $40,625, or 12%.  Non-interest expense also increased for the period, largely offsetting the increases in income.  “As we further integrate the Landmark operations into First Internet Bank, we will continue to work to improve efficiencies, which we expect, over time, will improve our return on assets and return on equity,” said David Becker.

As of June 30, 2007, First IB held $410.6 million in deposits, a 19% increase from deposits held as of June 30, 2006.  From March 31, 2007 to June 30, 2007 the balance sheet has decreased by $24.0 million with approximately equal reductions in cash and deposits.  Given the flat yield curve and challenging credit environment for both mortgages and consumer loans, management has reduced funding from wholesale sources, reduced borrowings and allowed some maturing time deposits to leave the Bank.  Deposit growth is anticipated to resume as loan demand increases.

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 $507 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.