Our governance and committee structure enhances stakeholder accountability and sustainable growth for the Company. All Board committees – including Audit and Risk, Compensation, Nominating and Corporate Governance – are comprised solely of independent Board members to help ensure objectivity.
First Internet Bank’s Board and executive compensation is tied to Company performance to help promote shareholder value. Our robust policies and procedures (Whistleblower Policy, Code of Business Conduct and Ethics, Corporate Governance Principles, stock ownership guidelines for Board members and executive officers, committee charters, Insider Trading Policy, Internal Audit Policy and Procedures, Related Party Transaction Policy and more) are reviewed and updated by the Board no less than annually.
We remain committed to a culture that prioritizes risk management and compliance, led by our newly appointed Chief Risk Officer and our Vice President of Internal Audit. Both seek guidance from our Board of Directors and Board committees, and our Vice President of Internal Audit reports directly to the Board. In addition to our strong Risk Management Framework (informed by an enterprise-wide risk appetite statement), Compliance Management Program and Business Continuity Plan, we added to our internal risk and compliance teams by doubling the number of new professionals during the reporting period, representing a 100% increase in those departments.
Supported by Board members with extensive information security expertise and our IT Steering Committee, we continue to build on our comprehensive and robust data security plan and protections framework. First Internet Bank’s information security plan and procedures undergo both internal and external audits annually, and all employees receive regular and extensive information security training and testing. In addition, our Board is provided training on information security and is briefed on these matters on a quarterly basis.
We continually strive to increase shareholder value and transparency. At First Internet Bank, our shareholders have equal voting rights, our Board members are elected annually and our corporate governance documents do not contain any unreasonable restrictions on shareholder rights. We regularly interact and communicate with shareholders — formally and informally — through quarterly earnings calls, Securities and Exchange Commission filings, our Annual Reports and Proxy Statements, our annual meeting of shareholders, investor conferences and other communications platforms. We solicit feedback from our investors, share those findings with our Board and ultimately use it to inform our strategic direction.
8701 E. 116th St. Fishers, IN 46038
1-317-532-7900
© First Internet Bancorp
