Financial Performance - Net income for the three months ended September 30, 2022, was $8,436 thousand, down 30.1% from $12,090 thousand in the prior year[14]. - Basic earnings per share decreased to $0.89 for the three months ended September 30, 2022, compared to $1.22 for the same period in 2021, a decline of 27.0%[14]. - Net income for the nine months ended September 30, 2022, was $29.19 million, a decrease of 18.1% compared to $35.64 million for the same period in 2021[22]. - Basic earnings per share for the nine months ended September 30, 2022, was $3.04, down from $3.59 in 2021, reflecting a 15.3% decline[30]. - The company reported a total comprehensive loss of $(39,143) thousand as of September 30, 2022[177]. - In Q3 2022, net income was $8.4 million, or $0.89 per diluted share, a decrease of $3.7 million, or 30.2%, from Q3 2021[198]. - For the nine months ended September 30, 2022, net income was $29.2 million, down $6.4 million, or 18.1%, compared to the same period in 2021[200]. Asset and Loan Growth - Total assets increased to $4,264,424 thousand as of September 30, 2022, compared to $4,210,994 thousand at December 31, 2021, reflecting a growth of 1.3%[12]. - Net loans rose to $3,226,040 thousand, up from $2,859,821 thousand, representing an increase of 12.8% year-over-year[12]. - Total loans amounted to $3,255,906 thousand, an increase from $2,887,662 thousand as of December 31, 2021, representing a growth of approximately 12.8%[42]. - Total commercial loans reached $2,535,065 thousand, up from $2,363,863 thousand, indicating an increase of about 7.2%[42]. - Residential mortgage loans increased significantly to $337,565 thousand from $186,770 thousand, reflecting an increase of approximately 80.5%[42]. - The company reported a significant increase in investor commercial real estate loans, rising to $91,021 thousand from $28,019 thousand, a growth of approximately 225.5%[42]. Income and Expense Analysis - Total interest income for the three months ended September 30, 2022, was $39,099 thousand, a 18.5% increase from $33,034 thousand in the same period of 2021[14]. - Noninterest income for the three months ended September 30, 2022, was $4,316 thousand, down 44.8% from $7,813 thousand in the same period of 2021[14]. - Total noninterest expense increased to $17,995 thousand for the three months ended September 30, 2022, up from $14,451 thousand in the prior year, an increase of 24.0%[14]. - Noninterest expense increased by $9.9 million, or 22.1%, for the nine months ended September 30, 2022, compared to the same period in 2021[200]. Loan Loss Provisions - Provision for loan losses was $892 thousand for the three months ended September 30, 2022, compared to a reversal of $29 thousand in the same period of 2021[14]. - The provision for loan losses increased to $2.87 million in 2022 from $1.27 million in 2021, indicating a rise of 126.6%[22]. - The total allowance for loan losses increased to $29,866,000 as of September 30, 2022, compared to $28,000,000 at the same date in 2021, reflecting a year-over-year increase of approximately 6.67%[58]. - The provision charged to expense for the three months ended September 30, 2022, was $892,000, while the charge-offs amounted to $236,000, resulting in a net increase in the allowance[58]. Securities and Investments - As of September 30, 2022, the total fair value of the company's investments in securities was $541.0 million, approximately 96% of the AFS and HTM securities portfolios[35]. - The total available-for-sale securities amounted to $393.565 million, with unrealized losses of $55.351 million[32]. - The total held-to-maturity securities were valued at $169.977 million, with unrealized losses of $21.089 million[32]. - The company's portfolio consisted of 447 securities, with 438 in an unrealized loss position[35]. - The unrealized losses were primarily due to fluctuations in market interest rates after purchase[36]. Shareholder Equity and Dividends - Total shareholders' equity as of September 30, 2022, was $360.86 million, a decrease from $370.44 million as of September 30, 2021[20]. - The company declared dividends of $0.18 per share for the nine months ended September 30, 2022, totaling $1.74 million[22]. Capital and Debt Management - The Company issued $60.0 million aggregate principal amount of 3.75% Fixed-to-Floating Rate Subordinated Notes due 2031, which are intended to qualify as Tier 2 capital under regulatory guidelines[94]. - The Company redeemed the 2026 Notes in full on September 30, 2021, which had an aggregate principal amount of $25.0 million[91]. - The company has contracted capital expenditures of $69.2 million for the construction of its corporate headquarters and parking garage, with $6.1 million yet to be incurred as of September 30, 2022[113]. Market and Economic Conditions - The company expects to adopt the new credit loss standard on January 1, 2023, which may result in an increase in the allowance for loan and lease losses (ALLL)[185]. - The company has a working group focused on the implementation of the current expected credit losses (CECL) model, with model validation expected to be completed in Q4 2022[184]. - The company suspended the guidance on accounting for troubled debt restructurings (TDRs) related to COVID-19 under the CARES Act[186]. Miscellaneous - The company was incorporated in Indiana on September 15, 2005, and its banking operations commenced in 1999[191]. - The company has three wholly-owned subsidiaries providing various financial services, including public finance lending and real estate management[192].

FIRST IN · . . Financial Results Third Quarter 2022 ® all and not and and out and ad ad ad an Forward-Looking Statements & Non-GAAP Financial Measures 2 This presentation contains forward-looking statements, 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 statements are generally identifiable by the use of ...

Financial Data and Key Metrics Changes - For Q3 2022, the company reported net income of $8.4 million and earnings per share of $0.89, with adjusted net income of $8.5 million and adjusted diluted earnings per share of $0.90 [8][9] - The return on average assets was 0.83% and return on tangible common equity was 9.24% [9] - The tangible common equity ratio at the end of the quarter was 8.36%, maintaining strong capital levels [11][57] Business Line Data and Key Metrics Changes - Total loan balances increased by $174 million, a nearly 6% growth from the prior quarter, reaching an all-time high of almost $3.3 billion [12][37] - Loan originations for the quarter were $491.3 million, a 47% increase from the second quarter, with new funded originations totaling $272.5 million, up 9% from the prior quarter [12][14] - The construction lending team sourced nearly $190 million in new originations, with unfunded commitments in construction lending totaling $367 million, up over 74% compared to the previous quarter [14][12] Market Data and Key Metrics Changes - The company experienced lower gain on sale premiums in the second and third quarters of 2022 compared to previous years, forecasting SBA gain on sale revenue to be in the range of $10.5 million to $11 million for the year [16][18] - The competitive environment for deposits intensified, with a record outflow of $370 billion in deposits for the banking system in the second quarter, leading to increased competition for deposits [25][26] Company Strategy and Development Direction - The company is focusing on banking-as-a-service partnerships, with expectations to onboard its first relationship in early 2023, aiming to drive non-interest income [28][29] - The company plans to apply more pricing discipline in the fourth quarter to mitigate pressure on net interest margin, with expectations for higher average loan yields in future periods [27][48] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment in net interest income and net interest margin performance but highlighted strong growth in construction lending and SBA lending [31][33] - The company anticipates continued increases in deposit costs and a potential decline in net interest margin due to competitive pressures [48][49] Other Important Information - The company repurchased 120,000 shares of common stock at an average price of $36.56 per share, with a total of $25.1 million repurchased under the authorized program [58][59] - The company was named one of the Best Banks to Work For by American Banker for the ninth consecutive year, reflecting its commitment to workplace culture [34][35] Q&A Session Summary Question: Regarding BaaS deposits and pricing dynamics - Management explained that pricing on BaaS opportunities has increased, and the specific partnership faced challenges due to changing business models and market rates [62][63] Question: Future growth and stock performance - Management indicated a focus on maintaining solid margins rather than pursuing growth for its own sake, with expectations for loan activity to be more measured [72][74] Question: Loan growth outlook - Management stated that loan growth would be selective, with expectations for mid-single digit growth, focusing on higher yielding assets [92][94]

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, 2022 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 Indicate by check mark whether the registrant is a shell company (as defined in R ...

First Internet Bancorp (NASDAQ:INBK) Q2 2022 Earnings Conference Call July 21, 2022 12:00 PM ET Company Participants Larry Clark - Financial Profiles David Becker - Chairman and Chief Executive Officer Kenneth Lovik - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Perito - KBW Nathan Race - Piper Sandler Brett Rabatin - Hovde Group John Rodis - Janney George Sutton - Craig-Hallum Operator Good day, everyone, and welcome to the First Internet Bancorp Earnings Confer ...

FIRST IN · . . Financial Results Second Quarter 2022 ® 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, 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 statements are generally identifiable by the u ...

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Large Accelerated Filer ¨ Accelerated Filer þ Emerging growth company ☐ Non-accelerated Filer ¨ Smaller Reporting Company ☑ If an emerging growth company, indicate by check mark if the regi ...

First Internet Bancorp (NASDAQ:INBK) Q1 2022 Earnings Conference Call April 21, 2022 12:00 PM ET CompanyParticipants Larry Clark - Financial Profiles, Inc. David Becker - Chairman & Chief Executive Officer Kenneth Lovik - Executive Vice President & Chief Financial Officer Conference Call Participants Brett Rabatin - Hovde Group Michael Perito - KBW Nathan Race - Piper Sandler John Rodis - Janney Montgomery Scott George Sutton - Craig-Hallum Operator Hello, all and a warm welcome to the First Internet Bancor ...

FIRST INT . · · · · · ® Financial Results First Quarter 2022 nd and ad ad ad and out all and ad ad ad and Forward-Looking Statements & Non-GAAP Financial Measures 2 This presentation may contain forward-looking statements, including statements with respect to the pending acquisition of First Century Bancorp and its effects on the future performance of the Company and the Bank, the expected timing of completion of the transaction and other statements concerning the financial condition, results of operations, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021. 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) (State or other jurisdiction ...