First Internet B Stock Price, News & Analysis

First Internet Bancorp (Nasdaq: INBK) has appointed Nicole Lorch as President and Chief Operating Officer, effective June 30, 2021. David B. Becker will continue as Chairman and CEO. Lorch, who has been with the company since its inception in 1999, previously held the role of Executive Vice President and COO. She aims to leverage her experience and the bank's innovative approach to foster growth and value for stakeholders. First Internet Bancorp manages $4.2 billion in assets and specializes in various banking services.

The Board of Directors of First Internet Bancorp (Nasdaq: INBK) has announced a quarterly cash dividend of $0.06 per common share, scheduled for payment on July 15, 2021, to shareholders on record as of July 1, 2021. Future dividends will be determined at the Board's discretion, based on various factors including the company’s operational results, financial health, and regulatory conditions. As of March 31, 2021, First Internet Bancorp holds assets worth $4.2 billion and operates primarily in branchless banking.

First Internet Bank announces the addition of four new Senior Business Development Officers to its Small Business Administration (SBA) Lending team. The new members include Samuel Criales, Thomas Hurdman, Laurel McNamara, and Ben Woodward, each bringing extensive experience in SBA and commercial lending. The bank aims to enhance accessibility to capital for business owners across the nation. With $4.2 billion in assets as of March 31, 2021, First Internet Bank offers a range of financial services, including SBA financing, to support small businesses.

First Internet Bank has announced a $250,000 contribution to the Hamilton County Community Foundation's unrestricted endowment, which will support not-for-profits in the area. With support from the Lilly Endowment's GIFT VII Initiative, the total commitment rises to $750,000. This funding aims to address pressing needs through initiatives like inclusive economic growth, mental health support, and empowerment for families and youth. The contribution reflects First Internet Bank's commitment to local community development and equitable opportunities.

First Internet Bancorp (Nasdaq: INBK) reported a net income of $10.5 million for Q1 2021, equating to $1.05 diluted EPS, a slight decline from Q4 2020's $11.1 million but a significant increase from $6.0 million in Q1 2020. The bank's net interest income increased to $20.5 million, boosted by improved net interest margin of 2.04%, up from 1.78% in Q4 2020. Total loans stood at $3.1 billion, stable from the previous quarter but up 5.8% year-over-year. The bank experienced a slight rise in credit quality issues, but overall performance remains strong.

First Internet Bancorp (Nasdaq: INBK) announced it will release its Q1 2021 financial results on April 21, 2021, after market close. A conference call to discuss the results will take place on April 22, 2021, at 12:00 p.m. ET. Investors can access the call via telephone or through a webcast available on the company's website. First Internet Bancorp had assets of $4.2 billion as of December 31, 2020, and operates through its subsidiary, First Internet Bank, providing various banking services nationally.

First Internet Bank has joined the pilot program for the FedNow Service, the Federal Reserve's instant payments network, affirming its dedication to digital banking. The FedNow Service, set to launch in 2023 or 2024, aims to enhance payment experiences for consumers and small businesses, allowing for immediate funds transfer and improved cash flow. The bank will influence the pilot's development, ensuring readiness for its debut. As of December 31, 2020, First Internet Bank had assets totaling $4.2 billion.

The Board of Directors of First Internet Bancorp (Nasdaq: INBK) has announced a quarterly cash dividend of $0.06 per common share, payable on April 15, 2021. Shareholders of record by March 31, 2021 will benefit from this distribution. Future dividends will be determined at the Board's discretion and will consider various factors such as operational results and financial condition. As of December 31, 2020, the Company reported assets totaling $4.2 billion.