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BRIEF-First Internet Bancorp says placed $4.7 million loan on nonaccrual status during Q2

Sept 19 First Internet Bancorp

* First Internet Bancorp says placed a $4.7 million commercial and industrial loan on nonaccrual status during Q2 2016

* First Internet Bancorp says at that time, a $0.5 million specific allowance was assigned to loan

* First Internet Bancorp says received payments from borrower during Q3 2016 that have reduced outstanding balance of loan to $1.7 million

* Based on recent events that negatively impacted operation of borrower's business, co believes full repayment of remaining loan balance unlikely

* As a result, estimates its maximum pre-tax loss exposure on loan is $1.2 million, or $0.8 million after taxes and $0.14 per share

* Expects to charge off loan in full by Sept 30, 2016, impact of which will be reflected in Q3 2016 financial results -SEC filing Source text: (bit.ly/2ck4Ve6) Further company coverage:

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