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 (NASDAQ: INBK) maintains this comprehensive news hub for investors and stakeholders tracking its digital banking operations. Access verified press releases and financial updates from the pioneering online institution offering commercial lending solutions and retail banking services nationwide.
This resource consolidates all essential announcements including quarterly earnings reports, leadership changes, product launches, and regulatory developments. Users will find detailed information on commercial real estate financing initiatives, treasury management innovations, and consumer banking updates from the branchless financial services provider.
The curated collection features strategic partnership announcements, capital market activities, and technology implementations that drive INBK's internet-based banking model. Bookmark this page for immediate access to filings detailing the company's single tenant lease financing progress, deposit product enhancements, and risk management framework developments.
First Internet Bancorp (Nasdaq: INBK) reported a net loss of $1.3 million for Q1 2023, resulting in a diluted loss per share of $0.14. Despite this, the bank saw a deposit growth of $181 million, equating to a 5.3% increase from the previous quarter. The company’s net interest income was $19.6 million, down from $21.7 million in Q4 2022, with a net interest margin of 1.76%. Total loans increased by 3.1% to $3.6 billion, driven by commercial loans. The bank's capital ratios remain strong, with a CET1 ratio of 10.35% and tangible book value per share at $39.43. Although there were unrealized securities losses impacting tangible equity, management emphasized proactive liquidity and capital management during market changes. The bank repurchased 161,691 shares in Q1 as part of its stock repurchase program.
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