$INBK
First Internet Bancorp
CIK:0001562463|SEC Filings
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Interest income | ||||
| Loans | $ 60,693 | $ 66,685 | $ 121,532 | $ 129,347 |
| Securities – taxable | 9,948 | 9,062 | 19,444 | 17,525 |
| Securities – non-taxable | 629 | 654 | 1,283 | 1,315 |
| Other earning assets | 5,366 | 4,485 | 10,187 | 9,528 |
| Total interest income | 76,636 | 80,886 | 152,446 | 157,715 |
| Interest expense | ||||
| Deposits | 40,320 | 46,794 | 80,679 | 94,420 |
| Other borrowed funds | 3,877 | 6,102 | 7,730 | 10,209 |
| Total interest expense | 44,197 | 52,896 | 88,409 | 104,629 |
| Net interest income | 32,439 | 27,990 | 64,037 | 53,086 |
| Provision for credit losses | 13,508 | 13,596 | 30,114 | 25,717 |
| Benefit for credit losses - debt securities held to maturity | (17) | (12) | (23) | (32) |
| Benefit (provision) for credit losses - off-balance sheet commitments | (76) | 24 | (371) | (144) |
| Net interest income after provision for credit losses | 19,024 | 14,382 | 34,317 | 27,545 |
| Noninterest income | ||||
| Gain on sale of loans | 4,690 | 1,673 | 12,067 | 10,320 |
| Other | 1,609 | 2,780 | 3,110 | 3,493 |
| Total noninterest income | 8,685 | 5,557 | 20,203 | 15,984 |
| Noninterest expense | ||||
| Salaries and employee benefits | 13,570 | 10,867 | 26,806 | 23,974 |
| Marketing, advertising and promotion | 706 | 702 | 1,321 | 1,349 |
| Consulting and professional services | 1,372 | 936 | 2,452 | 2,164 |
| Data processing | 774 | 656 | 1,549 | 1,291 |
| Loan expenses | 2,109 | 1,520 | 4,288 | 3,051 |
| Premises and equipment | 3,718 | 3,281 | 7,394 | 6,396 |
| Deposit insurance premium | 1,611 | 1,564 | 3,098 | 2,962 |
| Other | 2,262 | 2,274 | 4,241 | 4,170 |
| Total noninterest expense | 26,122 | 21,800 | 51,149 | 45,357 |
| Income (loss) before income taxes | 1,587 | (1,861) | 3,371 | (1,828) |
| Income tax benefit | (780) | (2,054) | (1,505) | (2,964) |
| Net income | $ 2,367 | $ 193 | $ 4,876 | $ 1,136 |
| Income per share of common stock | ||||
| Basic (in dollars per share) | $ 0.27 | $ 0.02 | $ 0.56 | $ 0.13 |
| Diluted (in dollars per share) | $ 0.27 | $ 0.02 | $ 0.55 | $ 0.13 |
| Weighted-average number of common shares outstanding | ||||
| Basic (in shares) | 8,754,008 | 8,733,559 | 8,744,250 | 8,724,657 |
| Diluted (in shares) | 8,822,099 | 8,760,374 | 8,797,389 | 8,784,005 |
| Dividends Declared Per Share (in dollars per share) | $ 0.06 | $ 0.06 | $ 0.12 | $ 0.12 |
| Service charges and fees | ||||
| Noninterest income | ||||
| Noninterest income | $ 1,112 | $ 278 | $ 1,956 | $ 543 |
| Loan servicing revenue | ||||
| Noninterest income | ||||
| Noninterest income | 2,853 | 1,979 | 5,709 | 3,962 |
| Loan servicing asset revaluation | ||||
| Noninterest income | ||||
| Noninterest income | $ (1,579) | $ (1,153) | $ (2,639) | $ (2,334) |