First Internet Bancorp Reports Third Quarter 2024 Results Fishers, Indiana, October 23, 2024 – First Internet Bancorp (the "Company") (Nasdaq: INBK), the parent company of First Internet Bank (the "Bank"), announced today financial and operational results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial Highlights ▪ Net income of $7.0 million, an increase of 21.0% from the second quarter of 2024 ▪ Diluted earnings per share of $0.80, an increase of 19.4% from the second quarter o ...

Shares of First Internet Bancorp (INBK, Financial) fell 3.46% in mid-day trading on Oct 2. The stock reached an intraday low of $32.06, down from its previous close of $33.21. This places INBK 18.75% below its 52-week high of $39.46 and 127.21% above its 52-week low of $14.11. Trading volume was 5,915 shares, 17.3% of the average daily volume of 34,200. Wall Street Analysts Forecast Based on the one-year price targets offered by 5 analysts, the average target price for First Internet Bancorp (INBK, Financia ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to ________. | --- | --- | --- | |-----------------------------------------------------------------------|-------------------------------------------- ...

Investors in First Internet Bancorp (INBK) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $12.50 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It cou ...

Financial Data and Key Metrics Changes - The company reported net income of $5.8 million, an increase of 11.5%, and diluted earnings per share of $0.67, up 11.7% from the first quarter [101] - Net interest income for the quarter was $21.3 million, up 2.9% from the first quarter, with a fully taxable equivalent net interest margin increasing by 1 basis point [30][117] - The tangible book value per share increased over 1% during the quarter and is up over 6% year-over-year [6] Business Line Data and Key Metrics Changes - The SBA business saw year-to-date originations up 15% and solid loan volume up 58% compared to the first half of 2023 [4] - Non-interest income for the quarter was $11 million, up 32% from the first quarter, driven by record gains on sale revenue [108] - The construction team originated over $115 million in new commitments, with average construction loan balances up 16% compared to the first quarter [7] Market Data and Key Metrics Changes - Deposits from FinTech partners increased by 34% from the first quarter, totaling $375 million at quarter-end [10] - Average interest-bearing deposits were up over $185 million during the quarter, while average loan balances increased by only $44 million [12] - The company’s exposure to office commercial real estate remains less than 1% of the total loan portfolio [119] Company Strategy and Development Direction - The company is focused on optimizing the loan portfolio and diversifying revenue streams while maintaining deposit costs [3] - FinTech partnerships are seen as vital for developing innovative solutions and enhancing shareholder returns, with total revenue from this line of business up 300% for the first half of 2024 compared to the same period last year [8] - The company aims to achieve annual net interest income growth of 20% for 2024, with loan growth projected between 7.5% to 10% [110] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of net interest income and net interest margin, anticipating a stable environment for deposit costs [13][117] - The company is optimistic about the outlook for the remainder of 2024, citing strong pipelines and a focus on high-quality sales personnel [145] - Management noted that regulatory scrutiny in the fintech space has increased, but the company is well-prepared to navigate these challenges [131] Other Important Information - The allowance for credit losses as a percentage of total loans was 1.10% at the end of the second quarter, reflecting growth in the loan portfolio [62] - The company has reduced its outstanding balances related to Red Lobster by $3 million, with no delinquencies reported [100] - Non-interest expense for the quarter was $22.3 million, up 3.5% from the first quarter, including almost $600,000 of non-recurring expenses [127] Q&A Session Summary Question: How do you view the revenue trajectory for SBA in the second half of the year? - Management indicated that while it may be difficult to replicate the production in Q2, they expect to continue seeing growth in SBA revenue [42] Question: Can you provide insights on the technology contracts mentioned? - Management clarified that the termination of some tech contracts was due to finding better alternatives and does not indicate a reduction in capabilities [24][25] Question: What are the expectations for loan growth in the back half of the year? - Management forecasted loan balances to be up between 7.5% to 10%, with a focus on maintaining a higher level of originations [142]

Financial Results Second Quarter 2024 FIRST IN · . · ତ nd and ad ad ad and out all and ad ad ad and Forward-Looking Statements & Non-GAAP Financial Measures 2 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, futur ...

The reported revenue compares to the Zacks Consensus Estimate of $30.55 million, representing a surprise of +5.93%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.72. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Net Interest Margin: 1.7% versus 1.7% estimated by two analysts on average. Net In ...

First Internet Bancorp (INBK) came out with quarterly earnings of $0.72 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the ear ...

First Internet Bancorp Reports Second Quarter 2024 Results Fishers, Indiana, July 24, 2024 – First Internet Bancorp (the "Company") (Nasdaq: INBK), the parent company of First Internet Bank (the "Bank"), announced today financial and operational results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights "Our strong upward earnings trajectory continued in the second quarter of 2024, driven by an increasingly diversified revenue base," said David Becker, Chairman and Chief Ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to ________. Commission File Number 001-35750 First Internet Bancorp (Exact Name of Registrant as Specified in Its Charter) Indiana 20-3489991 (State ...