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) announced plans to release its fourth quarter 2020 financial results on January 20, 2021, after market close. A conference call is scheduled for January 21, 2021, at 12:00 p.m. Eastern Time to discuss the results. The company, a pioneer in branchless banking, has assets of $4.3 billion as of September 30, 2020. The webcast and presentation slides will be available on their website following the call. INBK is also part of the Russell 2000® Index.
The Board of Directors of First Internet Bancorp (Nasdaq: INBK) has declared a quarterly cash dividend of $0.06 per common share, payable on January 15, 2021, to shareholders on record as of the close of business on December 31, 2020. Future dividends will depend on the Company's financial performance, capital needs, and other factors evaluated by the Board. As of September 30, 2020, the Company held assets of $4.3 billion. First Internet Bancorp is a leader in branchless banking, offering a range of financial services nationally.
First Internet Bank has been recognized by Newsweek as offering the Best Small Business Checking Account in its America’s Best Banks 2021 report. This honor highlights the bank's commitment to providing small business owners with no monthly fees, unlimited transactions, and $10 in ATM fee reimbursements monthly. With assets of $4.3 billion as of September 30, 2020, First Internet Bank continues to grow as a leader in digital banking services.
First Internet Bank has been recognized as one of the Best Banks to Work For by American Banker for the eighth consecutive year. This award highlights the bank's exceptional employee engagement and positive corporate culture. President and CEO David Becker expressed pride in the employees' contributions amid challenging times, emphasizing the bank's entrepreneurial spirit that fosters innovation and support. The selection process includes evaluating workplace policies and employee surveys, ensuring a comprehensive assessment. The bank, with assets of $4.3 billion as of September 30, 2020, continues to provide a range of banking services.
First Internet Bancorp (Nasdaq: INBK) reported record net income of $8.4 million, or $0.86 diluted earnings per share, for Q3 2020, a significant increase from $3.9 million in Q2 2020. Revenue growth was attributed to strong performance in mortgage banking and improved net interest margins. Loan deferrals fell significantly, and over 99% of borrowers resumed payments. Total loans reached $3 billion, and noninterest income surged to $12.5 million. Despite an increase in noninterest expenses, the overall financial outlook remains positive heading into Q4.
First Internet Bancorp (Nasdaq: INBK) announced plans to release its third quarter 2020 financial results on October 21, 2020, after market close. A conference call is scheduled for October 22, 2020, at 12:00 p.m. ET for discussion of the results. The bank, which has assets of $4.3 billion as of June 30, 2020, operates as a pioneer in branchless banking services, providing a range of financial products nationwide. The company trades on the Nasdaq Global Select Market and is part of the Russell 2000® Index.