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.
