First Internet B Stock Price, News & Analysis

First Internet Bank has secured a $125,000 grant from the Federal Home Loan Bank of Indianapolis for the Indianapolis Neighborhood Housing Partnership through the Community Multiplier-Member Match program. The grant, which requires a 10% matching fund from First Internet Bank, will support INHP's housing counseling programs aimed at helping renters and aspiring homebuyers in Marion County overcome homeownership barriers. The initiative comes as part of FHLBank Indianapolis' commitment to invest 10% of their annual net earnings into affordable housing and community development. The program, launched in March 2025, provides grants ranging from $25,000 to $125,000 to not-for-profit organizations in Indiana or Michigan that collaborate with FHLBank Indianapolis member institutions on affordable housing initiatives.

First Internet Bancorp (NASDAQ: INBK) has announced a quarterly cash dividend of $0.06 per common share, payable on July 15, 2025, to shareholders of record as of June 30, 2025. The company's Board of Directors will maintain discretion over future dividend declarations, which will be determined based on various factors including operational results, financial condition, capital requirements, regulatory restrictions, business strategy, and other relevant considerations.

First Internet Bank (INBK) has been recognized as a Top Workplace by The Indianapolis Star for the twelfth consecutive year in the mid-sized companies category. The ranking is determined through employee feedback via third-party surveys measuring workplace culture aspects including alignment, execution, and engagement. The bank, under the leadership of President and COO Nicole Lorch, has also received other notable recognitions including American Banker's 2025 Innovation of the Year award and the 2024 Online Lender of the Year for its Small Business Administration team from Coleman Report. The company maintains its commitment to fostering a collaborative and innovative workplace culture focused on customer service and employee support.

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.