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 reports news as the bank holding company for First Internet Bank, a branchless banking subsidiary that has operated since 1999. Company updates focus on digital delivery of consumer and small business deposits, consumer loans, specialty finance, SBA financing, commercial real estate and construction lending, commercial and industrial lending, and treasury management services.
Recurring announcements include quarterly financial results, common-stock dividend declarations, lending and deposit product developments, risk-management and payments-industry activity, and leadership or sales-management updates tied to the bank's national and regional banking lines.
First Internet Bancorp (NASDAQ: INBK) has declared a quarterly cash dividend of $0.06 per common share, payable on July 15, 2022, to shareholders of record as of July 1, 2022. The future amount and declaration of dividends depend on various factors including the company's financial condition and operations. As of March 31, 2022, First Internet Bancorp reported assets totaling $4.2 billion. The company provides a range of banking services, including residential and commercial loans, nationally and regionally.
First Internet Bank has raised its minimum hourly wage for full-time employees to $20.00, addressing inflation and aiming to attract talented staff. President Nicole Lorch emphasized the importance of supporting teams amid rising costs of living. The Bank recently implemented a flexible work model to enhance productivity and work-life balance. Recognized as one of The Indianapolis Star’s Top Workplaces for nine consecutive years, First Internet Bank has assets of $4.2 billion as of March 31, 2022, offering various banking services nationally.
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First Century Bancorp announced the termination of its merger agreement with First Internet Bancorp (INBK) due to delays in obtaining regulatory approval. The decision was made after the parties couldn't reach new terms. Each company will incur its own costs related to the terminated deal, with no termination fee paid. CEO William Blanton expressed confidence in First Century's ability to continue providing technology-driven financial solutions and growing its offerings independently.
First Internet Bancorp (INBK) announced the termination of its merger agreement with First Century Bancorp, which was initially set to close by April 30, 2022. The merger received Federal Reserve approval on April 29, 2022, but the parties couldn't agree on extension terms, leading to the termination on May 1, 2022. CEO David Becker emphasized the commitment to shareholder value and indicated ongoing efforts to identify new strategic opportunities despite the setback.
First Internet Bancorp (INBK) reported a quarterly net income of $11.2 million for Q1 2022, a decrease from $12.5 million in Q4 2021 but an increase from $10.5 million in Q1 2021. Quarterly diluted earnings per share were $1.14, compared to $1.25 and $1.05 in the previous quarters. Total revenue rose 4.4% quarter-over-quarter to $32.6 million. The net interest margin improved to 2.56%, up from 2.30% in Q4 2021. The report included share repurchases totaling 103,703 shares at an average price of $49.35.
First Internet Bank enhances its SBA Lending team with the appointment of Genevieve Lua as Vice President, Business Development Officer. Lua brings extensive experience from her previous roles at Bank of America and JPMorgan Chase. The bank aims to improve access to capital for small businesses, aligning with Lua's commitment to flexible financial solutions. As of December 31, 2021, the bank reported assets of $4.2 billion.
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.