First Internet Bancorp(US:INBK)2023-10-26 18:23Financial Performance - The company reported net income of $34 million[8] - Total revenue increased to $248 million[8] - Diluted earnings per share reached $039[18] Balance Sheet and Capitalization - Tangible book value per share stood at $3957[8] - Total deposits increased by 59% from 2Q23[8], representing an increase of $2292 million[12], and are up 279% from 3Q22[12] - Adjusted tangible common equity to adjusted tangible assets was 777%, excluding AOCI and adjusting for normalized cash balances[8] - The loans to deposits ratio declined to 915%[18] Loan Portfolio - Commercial loan balances increased by $772 million, or 27%, compared to 2Q23[10] - Yield on loans funded in 3Q23 increased to 892%, up 50 bps from 2Q23[8] - Office CRE exposure remains less than 1% of total loan balances[8, 18] Deposits - Estimated uninsured deposit balances represent 23% of total deposits, down from 24% in 2Q23[25]