First Internet B Stock Price, News & Analysis

First Internet Bank (INBK) and Increase have won American Banker's 2025 Innovation of the Year award in the Payments category for their High-fidelity ACH solution. This technology enhancement brings improved speed and reliability to Automated Clearing House transactions by providing end-to-end visibility of payment processing. The solution allows operators to track network events in a timeline format, ensuring timely execution of payroll, rent, and bill payments.

The partnership highlights First Internet Bank's continued innovation in digital banking, building on their 25-year history of branchless banking services. The High-fidelity ACH project focuses on providing transparency and improved reliability for scaled platforms, allowing users to track payment submissions and fund availability with precision.

First Internet Bancorp (INBK) reported its Q1 2025 financial results with net income of $0.9 million and diluted EPS of $0.11. The company achieved pre-tax, pre-provision income of $12.0 million, marking a 10.8% increase from Q4 2024 and 48.5% from Q1 2024.

Key highlights include net interest income of $25.1 million, representing a 6.6% increase from the previous quarter. The bank saw loan growth of $83.8 million (2.0% increase) and deposit growth of $12.4 million (0.3% increase). The net interest margin expanded to 1.82%, up 15 basis points from Q4 2024.

Credit quality metrics showed nonperforming loans at 0.80% of total loans, with net charge-offs at 0.92% and an allowance for credit losses at 1.11% of total loans. The tangible book value per share increased 0.6% to $44.04 from the previous quarter.

First Internet Bancorp (INBK) has scheduled the release of its first quarter 2025 financial results after market close on Wednesday, April 23, 2025. The company will host a conference call and webcast to discuss the results on Thursday, April 24, 2025, at 2:00 p.m. Eastern Time.

Investors can access the conference call through multiple channels: U.S. toll-free (1-800-549-8228), U.S. toll (1-646-564-2877), or international toll (1-289-819-1520) using Conference ID 30935. A replay will be available for one week until May 1, 2025. The presentation slides and webcast can be accessed through the company's website at firstinternetbancorp.com and will remain archived for 12 months.

First Internet Bancorp (Nasdaq: INBK) has announced its Board of Directors has declared a quarterly cash dividend of $0.06 per common share. The dividend will be paid on April 15, 2025 to shareholders of record as of March 31, 2025.

Future dividend declarations and amounts will be determined by the Board of Directors based on various factors including operational results, financial condition, capital requirements, regulatory restrictions, business strategy, and other relevant considerations.

First Internet Bank has strengthened its Small Business Administration (SBA) Lending team by appointing Carlos Torres Jr. as Vice President, Senior Business Development Officer. Torres brings over nine years of SBA experience in lending and credit underwriting to the bank's Top 10 SBA 7(a) lending team.

Prior to joining First Internet Bank, Torres served as Vice President, SBA Relationship Manager at SouthState Bank, and held positions at Regions Bank, First Bank of the Lake, and First American Bank. He holds an MBA from Liberty University and a BBA in Finance from Florida International University.

First Internet Bank has appointed J. Blake Sanderson as First Vice President, Commercial Real Estate Acquisition, Development and Construction. He will manage and expand the bank's commercial real estate portfolio, which currently exceeds $1 billion in commitments.

Sanderson, bringing nearly 30 years of commercial banking experience from institutions including STAR Financial Bank, Centier Bank, First Indiana Bank and Ameriana Bank, succeeds Nick Campbell, who has been promoted to Senior Credit Officer overseeing commercial credit administration. Sanderson holds a Bachelor's degree in Corporate Financial Management from Ball State University and an MBA from University of Indianapolis.

First Internet Bank has promoted David Bybee to Senior Vice President, Government Guaranteed Lending, a newly created position where he will oversee all aspects of the bank's Small Business Administration (SBA) Lending operations. Under his previous leadership, the bank achieved significant growth in SBA lending, becoming one of the nation's Top 10 SBA 7(a) lenders.

The bank's total funded 7(a) production reached $610 million in 2024, marking a 44% increase year over year. Bybee previously served as Vice President, Senior Credit Officer at First Internet Bank and has 17 years of experience with the Federal Reserve Bank in bank supervision roles.

First Internet Bank has strengthened its Small Business Administration (SBA) Lending team with the appointment of Austin Porter as Vice President, Business Development Officer. The bank, which currently ranks among the Top 10 SBA 7(a) lenders nationwide, aims to enhance its small business lending capabilities through this strategic hire.

Porter brings over six years of specialized SBA experience, previously serving as Assistant Vice President, SBA Lending Officer at BayFirst National Bank and working at Fountainhead Commercial Capital. He holds a B.S. in Finance from the University of Central Florida. In his new role, Porter will focus on helping small business partners access capital for sustainable growth while maintaining the bank's commitment to first-class customer service.

First Internet Bank has been named the 2024 Online Lender of the Year by Coleman Report, a leading publication in the small business lending industry. The award recognizes the bank's success in combining customer service with technology to provide streamlined SBA loan processes nationwide.

The bank has shown significant growth in its SBA operations, achieving a 44% year-over-year increase in total funded 7(a) production, reaching $610 million. Additionally, the bank expanded its SBA operations team by 31% to enhance customer service capabilities. Two team members, Jared Johnson and Ben Woodward, were also recognized as 2024 SBA Business Development Officers of the Year.