Welcome to our dedicated page for First Internet B news (Ticker: INBK), a resource for investors and traders seeking the latest updates and insights on First Internet B stock.
First Internet Bancorp (INBK) is a Nasdaq-listed bank holding company for First Internet Bank, which opened in 1999 as an industry pioneer in the branchless delivery of banking services. News about INBK often centers on its financial performance, capital actions, and developments in its digital banking operations.
Investors following INBK news can find updates on quarterly and annual financial results, including earnings releases that the company announces through press releases and accompanying conference calls and webcasts. These items are frequently furnished in Form 8-K filings and provide detail on revenue, net interest margin, asset quality, capital ratios, and other performance metrics, as well as management commentary on business trends.
Company news also covers balance sheet and portfolio actions. For example, First Internet Bancorp has announced an agreement to sell a substantial portfolio of performing single tenant lease financing loans to entities affiliated with Blackstone Real Estate Debt Strategies, along with related servicing arrangements. Such releases describe the expected impact on regulatory capital ratios, balance sheet flexibility, and exposure to specific loan types.
First Internet Bank-related news includes product and partnership announcements that reflect its digital banking focus. These have included recognition for its Do More Business Checking account, the availability of Zelle for eligible business customers through its digital banking platform, and partnerships with financial technology and payments companies in areas such as SBA lending and multi-user consumer financial accounts. Together, these updates give insight into how the bank develops and delivers its consumer, small business, and commercial banking services.
By reviewing the INBK news feed, readers can monitor earnings announcements, dividend declarations, loan portfolio transactions, stock repurchase authorizations, and product or technology partnerships that the company discloses through press releases and regulatory communications.
First Internet Bancorp (Nasdaq: INBK) will release its first quarter 2022 financial results on April 20, 2022, after market close. A conference call and webcast to discuss the results is scheduled for April 21, 2022, at 12:00 p.m. Eastern Time. Investors can access the call via telephone or online at the company's website, where presentation slides will also be available. With assets totaling $4.2 billion as of December 31, 2021, First Internet Bancorp continues to serve consumers and small businesses with various banking services.
First Internet Bank has announced the removal of overdraft fees on personal and small business deposit accounts, aiming to enhance the banking experience for its customers. President Nicole Lorch emphasized the importance of this decision in promoting financial wellness and alleviating the stress associated with inadvertent overdrafts. This initiative aligns with the bank's focus on customer-centric solutions. As of December 31, 2021, the bank reported assets of $4.2 billion and offers a range of financial services including loans and treasury management.
First Internet Bancorp (NASDAQ: INBK) has announced a quarterly cash dividend of $0.06 per common share, scheduled for payment on April 18, 2022, to shareholders of record by March 31, 2022. The future dividends will depend on the Board of Directors' discretion, influenced by the company's operational results, financial condition, capital requirements, and other relevant factors. As of December 31, 2021, First Internet Bancorp had assets totaling $4.2 billion.
First Internet Bancorp (Nasdaq: INBK) reported record annual net income of $48.1 million and diluted earnings per share of $4.82 for 2021. In Q4, net income was $12.5 million, or $1.25 per diluted share, marking a 3.3% increase from Q3 2021. Total quarterly revenue reached $31.2 million, reflecting an 8.6% rise from Q3 but a slight decline from Q4 2020. The company repurchased 100,000 shares at an average price of $44.36 during the quarter. Additionally, net interest margin improved to 2.30%.
First Internet Bank has entered a partnership with Synctera to enhance its Banking as a Service offerings. This collaboration aims to support fintech innovation while expanding the bank's capabilities. CEO David Becker highlighted that the scalable tech stack provided by Synctera will allow First Internet Bank to strengthen its services for small business owners and entrepreneurs. As of September 30, 2021, the bank reported assets totaling $4.3 billion.
CarParts.com (NASDAQ: PRTS) has appointed Ana Dutra to its Board of Directors as of January 10, 2022. Dutra has a rich background, having served as CEO of Korn/Ferry Consulting and currently heading Mandala Global Advisors. She brings extensive experience in addressing complex business issues and focuses on ESG and human capital. CEO Lev Peker expressed excitement about her appointment, emphasizing her role in driving continued growth for the company in 2022. CarParts.com, known for over 50 million parts delivered, aims to enhance the online shopping experience for auto parts.
First Internet Bancorp (Nasdaq: INBK) will release its fourth quarter 2021 financial results on January 19, 2022, after market close. A conference call to discuss the results is scheduled for January 20, 2022 at 12:00 p.m. Eastern Time. Investors can participate via telephone or access a webcast on the company's website. The bank, with $4.3 billion in assets as of September 30, 2021, offers a range of banking services nationally and regionally.
First Internet Bancorp (NASDAQ: INBK) has announced an extension of its exchange offer for up to $60 million of 3.75% Fixed-to-Floating Rate Subordinated Notes due 2031 until December 30, 2021, at 11:59 p.m. New York City time. As of December 22, 2021, approximately $53.3 million, or 88.83%, of the original notes had been tendered. The exchange notes are now registered under the Securities Act of 1933, allowing for unrestricted transferability. This extension aims to facilitate more participation from existing noteholders.
The Board of Directors of First Internet Bancorp (NASDAQ: INBK) has declared a quarterly cash dividend of $0.06 per common share. This dividend will be payable on January 18, 2022 to shareholders of record as of December 31, 2021. Future dividends will depend on the Company's operational results, financial condition, and other relevant factors as assessed by the Board. First Internet Bancorp, a bank holding company with assets of $4.3 billion as of September 30, 2021, specializes in branchless banking services.
First Internet Bancorp (NASDAQ: INBK) appointed Justin P. Christian and Ann Colussi Dee to its Board of Directors. Christian, CEO of BCforward, has a proven track record, guiding the firm to projected revenues of $600MM for FY2021. Dee, an Executive VP at Duke Realty, brings over 26 years of legal and executive experience. These appointments are expected to enhance the board's diversity and strategic thinking, aligning with the company's innovative approach to banking. First Internet Bancorp has assets of $4.3 billion as of September 30, 2021.