WASHINGTON (dpa-AFX) - First Internet Bancorp (INBK), the parent company of First Internet Bank, and Blackstone (BX) jointly announced that the Bank has entered into an agreement to sell up to $869 million of performing single tenant lease financing loans to vehicles affiliated with Blackstone Real Estate Debt Strategies.
The Bank will retain customer-facing servicing responsibilities for all loans sold as part of this transaction.
'This proposed transaction is a decisive step that advances key strategic priorities, including strengthening our capital position, accelerating operating performance towards our near-term target of 1.00% return on average assets, and significantly enhancing net interest margin,' said David Becker, CEO and Chairman of First Internet Bancorp.
These performing single tenant lease financing loans are expected to be sold at a price approximating 95% of the unpaid principal balance, inclusive of transaction costs.
The proposed transaction is expected to close on or around September 18, 2025, subject to market conditions and customary closing requirements.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
