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First Internet Bank of Indiana (First IB) is the sole subsidiary of First Internet Bancorp, an American bank holding company headquartered in Fishers, Indiana. It was established as one of the first state-chartered banks to operate exclusively online and via telephone, without any physical branches.
In finance, subordinated debt (also known as subordinated loan, subordinated bond, subordinated debenture or junior debt) is debt which ranks after other debts if a company falls into liquidation or bankruptcy. Such debt is referred to as 'subordinate', because the debt providers (the lenders) have subordinate status in relationship to the ...
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The trust then issues preferred stock to investors. All of the proceeds from the issuance of preferred stock are paid to the company. In exchange, the company issues junior subordinated debt to the trust with essentially the same terms as the trust's preferred stock. All steps except the formation of the trust occur simultaneously.
Its primary subsidiary was the Indianapolis-based Merchants National Bank and Trust Company, which had been founded in 1865. From the mid-1950s through the late 1980s, Merchants National Bank and Trust, American Fletcher National Bank , and Indiana National Bank , were the three largest banks in Indianapolis.
American Fletcher National Bank was an Indianapolis-based bank founded in 1839 that was eventually absorbed by Bank One and later Chase Bank.Since the merger of the Fletcher Trust Company with the American National Bank to form the American Fletcher National Bank and Trust Company at the end of 1954, it had been the largest [1] [2] or the second largest bank in the state of Indiana, often ...
In November 1985, Indiana National Corporation announced the acquisition of the deposits and the four branch offices of the failed Leo-based Allen County Bank & Trust Company from the Federal Deposit Insurance Corporation for $2 million. [21] After the acquisition, Indiana National Bank had 45 branch offices in Marion County and 4 in Allen County.
The Trust Indenture Act was subsequently passed and signed into law in August 1939. Its legislative history shows that that Congress intended to address deficiencies prevalent in trust indentures at the time: [3] the failure of indentures to require evidence of an obligor’s performance thereunder, the lack of disclosure and reporting ...