Compared to Estimates, First Internet (INBK) Q2 Earnings: A Look at Key Metrics

Core Insights - First Internet Bancorp (INBK) reported revenue of $32.36 million for the quarter ended June 2024, marking a year-over-year increase of 34.7% [5] - The reported revenue exceeded the Zacks Consensus Estimate of $30.55 million, resulting in a surprise of +5.93% [1] - Earnings per share (EPS) for the quarter was $0.72, compared to $0.44 a year ago, indicating significant growth [5] Financial Metrics - Net Interest Margin was reported at 1.7%, matching the average estimate from two analysts [3] - Net Interest Income (FTE) was $22.50 million, slightly below the average estimate of $23.11 million [3] - Total noninterest income reached $11.03 million, surpassing the average estimate of $8.64 million [3] - Net Interest Income was $21.33 million, compared to the average estimate of $21.91 million [3] Stock Performance - Shares of First Internet Bancorp have returned +47.9% over the past month, significantly outperforming the Zacks S&P 500 composite, which changed by +1.8% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]