First Internet Bancorp (NASDAQ:INBK) Q1 2024 Earnings Conference Call April 24, 2025 2:00 PM ET Company Participants Ben Brodkowitz - Financial Profiles, Inc. David Becker - Chairman and CEO Nicole Lorch - President, Chief Operating Officer and Corporate Secretary Ken Lovik - Executive Vice President and Chief Financial Officer Conference Call Participants Tim Switzer - KBW Nathan Race - Piper Sandler Brett Rabatin - Hovde Group Logan Lillehaug - Craig Hallum Operator Good day, everyone, and welcome to the ...

Financial Results First Quarter 2025 Forward-Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements with respect to the financial condition, results of operations, trends in lending policies and loan programs, plans and prospective business partnerships, objectives, future performance and business of the Company. Forward-looking statem ...

For the quarter ended March 2025, First Internet Bancorp (INBK) reported revenue of $35.52 million, up 22.2% over the same period last year. EPS came in at $0.11, compared to $0.59 in the year-ago quarter.The reported revenue represents a surprise of -3.21% over the Zacks Consensus Estimate of $36.7 million. With the consensus EPS estimate being $0.75, the EPS surprise was -85.33%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

分组1 - First Internet Bancorp (INBK) reported quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.75 per share, and down from $0.59 per share a year ago, representing an earnings surprise of -85.33% [1] - The company posted revenues of $35.52 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 3.21%, compared to year-ago revenues of $29.08 million [2] - First Internet shares have declined approximately 30.2% since the beginning of the year, while the S&P 500 has decreased by -10.1% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $1.01 on revenues of $40.6 million, and for the current fiscal year, it is $4.11 on revenues of $163.75 million [7] - The Zacks Industry Rank for Banks - Northeast is currently in the top 23% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Total interest income for the first quarter of 2025 was $76.8 million, a decrease of 1.2% compared to the fourth quarter of 2024, and an increase of 12.7% compared to the first quarter of 2024. On a fully- taxable equivalent basis, total interest income for the first quarter of 2025 was $78.0 million, a decrease of 1.2% compared to the fourth quarter of 2024, and an increase of 12.5% compared to the first quarter of 2024. The yield on average interest-earning assets for the first quarter of 2025 increased t ...

First Internet Bancorp (INBK) shares soared 9.4% in the last trading session to close at $25.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.5% loss over the past four weeks.First Internet Bancorp stock surged during a broad market rally, driven by President Donald Trump’s announcement of a 90-day tariff pause for non-retaliating nations. This news boosted investor confidence, triggering a sharp rise in INBK shares.This in ...

Financial Performance - For the twelve months ended December 31, 2024, net income increased to $25.3 million, or $2.88 per diluted share, compared to $8.4 million, or $0.95 per diluted share for the same period in 2023[169]. - Adjusted net income for 2024 was $22.0 million, with adjusted diluted earnings per share at $2.51, reflecting a strong performance despite challenges[171]. - For the twelve months ended December 31, 2023, net income decreased by $27.1 million, primarily due to a $22.2 million, or 22.9%, drop in net interest income[174]. - Adjusted net income for 2023 was $16.2 million, with adjusted diluted earnings per share at $1.83, indicating a challenging year[175]. - Total revenue for 2024 increased to $134,722,000 from $101,029,000 in 2023, representing a growth of 33.3%[249]. - Adjusted total revenue for 2024 was $129,989,000, up from $100,964,000 in 2023, indicating a growth of 28.8%[249]. - Diluted earnings per share (EPS) for 2024 was $2.88, up from $0.95 in 2023, representing a growth of 203.2%[251]. Income Sources - Noninterest income rose by $21.2 million, or 81.2%, and net interest income increased by $12.5 million, or 16.7%, contributing to the overall net income growth[170]. - Noninterest income totaled $47.3 million for the twelve months ended December 31, 2024, representing an increase of $21.2 million, or 81.2%, compared to $26.1 million for the twelve months ended December 31, 2023[185]. - The increase in noninterest income was driven primarily by a $12.8 million increase in gain on sale of loans, reflecting a 48.8% increase in the volume of SBA 7(a) guaranteed loan sales[185]. - Net interest income for the twelve months ended December 31, 2024 was $87.4 million, an increase of $12.5 million, or 16.7%, compared to $74.9 million for the twelve months ended December 31, 2023[180]. - Total interest income increased by $52.4 million, or 21.9%, to $291.9 million for the twelve months ended December 31, 2024 compared to $239.4 million for the twelve months ended December 31, 2023[180]. Asset and Liability Management - Total assets increased by $570.3 million, or 11.0%, to $5.7 billion as of December 31, 2024 compared to $5.2 billion as of December 31, 2023[192]. - Total deposits increased by $866.2 million, or 21.3%, as of December 31, 2024, which was used to fund loan growth[192]. - Loan balances increased by $330.4 million, or 8.6%, as of December 31, 2024[192]. - The percentage of loans to deposits declined to 84.5% as of December 31, 2024 from 94.4% as of December 31, 2023[192]. - Total shareholders' equity increased by $21.3 million, or 5.9%, to $384.1 million as of December 31, 2024, compared to the previous year[194]. - Total contractual obligations amounted to $5.33 billion as of December 31, 2024[243]. Credit Quality - Nonperforming loans increased by $18.5 million, or 185.3%, to $28.4 million as of December 31, 2024, primarily due to small business lending and residential mortgage portfolios[209]. - Total nonperforming assets rose by $18.6 million, or 179.2%, to $28.9 million as of December 31, 2024[209]. - The ratio of total nonperforming loans to total loans increased to 0.68% as of December 31, 2024, from 0.26% in the previous year[205]. - The allowance for credit losses on loans to total loans was 1.07% as of December 31, 2024, compared to 1.01% as of December 31, 2023[205]. - The allowance for credit losses (ACL) increased to $44.8 million as of December 31, 2024, from $38.8 million in 2023, reflecting a growth rate of 25.8%[215]. - The provision for credit losses for loans was $18.8 million for the twelve months ended December 31, 2024, up from $15.5 million in 2023, marking a 20.6% increase[216]. Capital and Equity - Book value per common share rose 5.6% to $44.31 as of December 31, 2024, driven by increases in total shareholders' equity[195]. - Tangible common equity totaled $379.4 million as of December 31, 2024, reflecting a 5.9% increase from the previous year[194]. - The ratio of total shareholders' equity to total assets decreased to 6.69% as of December 31, 2024, from 7.02% as of December 31, 2023[194]. - Return on average shareholders' equity improved to 6.70% in 2024 from 2.35% in 2023[248]. - Adjusted return on average shareholders' equity improved to 5.83% in 2024 from 4.54% in 2023, down from 9.98% in 2022[252]. Market and Economic Conditions - The estimated impact on net interest income (NII) for Year 1 under a -200 basis points scenario is an increase of 8.88%[271]. - For Year 2, the NII is projected to increase by 23.01% under a -200 basis points scenario[272]. - The estimated economic value of equity (EVE) is projected to increase by 23.73% under a -200 basis points scenario for Year 1[271].

Fourth Quarter 2024 Highlights Net income of $7.3 million, up 4.9% from 3Q24 Diluted EPS of $0.83, up 3.8% from 3Q24 Adjusted total revenue of $34.8 million1, up 2.8% from 3Q24 – 4Q24 amount includes $4.7 million of prepayment and terminated interest rate swap gains Net interest margin of 1.67% and FTE NIM of 1.75%1,2, both up 5 bps from 3Q24 Deposit costs declined 17 bps while the yield on interest earning assets only declined 6 bps SBA GOS revenue of $8.6 million; impacted by timing of originations during ...

First Internet Bancorp (NASDAQ:INBK) Q4 2024 Earnings Conference Call January 23, 2024 2:00 PM ET Company Participants Ben Brodkowitz - Financial Profiles, Inc. David Becker - Chairman & CEO Ken Lovik - EVP & CFO Conference Call Participants Brett Rabatin - Hovde Group Tim Switzer - KBW Nathan Race - Piper Sandler George Sutton - Craig Hallum John Rodis - Janney Montgomery Scott Operator Good day, everyone, and welcome to the First Internet Bancorp's Fourth Quarter and Full Year 2024 Conference Call. [Opera ...

Core Viewpoint - First Internet Bancorp (INBK) reported a significant year-over-year revenue increase of 45.1% for the quarter ended December 2024, although the earnings per share (EPS) fell short of expectations, indicating mixed financial performance [1]. Financial Performance - Revenue for the quarter was $39.49 million, exceeding the Zacks Consensus Estimate of $35.65 million by 10.76% [1]. - EPS for the quarter was $0.41, down from $0.48 a year ago, representing a -57.73% surprise compared to the consensus estimate of $0.97 [1]. - Net Interest Margin was reported at 1.7%, slightly below the estimated 1.8% [4]. - Net Interest Income (FTE) was $24.70 million, compared to the estimated $25.04 million [4]. - Total noninterest income reached $15.94 million, surpassing the average estimate of $11.73 million [4]. - Net Interest Income was reported at $23.55 million, below the estimated $23.92 million [4]. Stock Performance - Over the past month, shares of First Internet have returned -4%, contrasting with the Zacks S&P 500 composite's +2.1% change [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3].