First Century terminates merger with First Internet Bancorp after failing to agree on extension

First Internet Bancorp

First Century terminated the merger agreement on May 1, 2022; deal was to close by April 30.
Federal Reserve approved merger on April 29, but statutory waiting periods prevented immediate close.
Parties could not agree on extension terms; First Century exercised termination right.
CEO Becker stated no mutually agreeable increased purchase price for extension was reached.
Company reaffirms focus on strategy and Q1 results; conference call scheduled May 2 at 4:30 PM ET.

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