The pair spoke in grand terms when they announced they were combining, but a securities filing tied to the agreement serves as a reminder that when two banks decide to become one, it's often because they have to.
The New Jersey regional will have higher capital levels after buying Oritani Financial. That was just one of the reasons why CEO Ira Robbins overcame his aversion to M&A.
First Internet is poised to acquire an SBA lending team to help it meet an ambitious loan target for the year — a target the CEO plans on doubling in coming years.