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 (INBK) reported strong Q2 2024 results, with net income of $5.8 million and adjusted net income of $6.2 million, up 11.5% and 20.2% respectively from Q1 2024. Diluted EPS reached $0.67, while adjusted diluted EPS was $0.72. The company saw improvements in net interest income, noninterest income, and loan growth. Key highlights include:
- Net interest margin increased to 1.67%
- Noninterest income grew 32.2% to $11.0 million
- Loan growth of $51.3 million, up 1.3% from Q1 2024
- Nonperforming loans to total loans at 0.33%
- Tangible book value per share increased to $42.37
The company's diversified revenue base and optimization of its loan portfolio contributed to the strong performance. SBA business growth and strategic initiatives drove improvements in noninterest income.
First Internet Bancorp (Nasdaq: INBK), the parent company of First Internet Bank, will release its Q2 2024 financial results on July 24, 2024, after the market closes.
Following the release, a conference call and webcast will be held on July 25, 2024, at 2:00 p.m. Eastern Time to discuss the results. Investors and analysts can join the call using the provided toll-free and toll numbers along with the conference ID. A replay of the call will be available until August 25, 2024.
The webcast and presentation slides will be accessible on the company's website and archived for 12 months.
First Internet Bancorp (Nasdaq: INBK) has announced a quarterly cash dividend of $0.06 per common share. The dividend will be paid on July 15, 2024, to shareholders recorded by June 28, 2024. The company's Board of Directors retains the discretion to alter future dividends based on various factors, including operational results, financial health, and capital needs.
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