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 (INBK) is a Nasdaq-listed bank holding company for First Internet Bank, which opened in 1999 as an industry pioneer in the branchless delivery of banking services. News about INBK often centers on its financial performance, capital actions, and developments in its digital banking operations.
Investors following INBK news can find updates on quarterly and annual financial results, including earnings releases that the company announces through press releases and accompanying conference calls and webcasts. These items are frequently furnished in Form 8-K filings and provide detail on revenue, net interest margin, asset quality, capital ratios, and other performance metrics, as well as management commentary on business trends.
Company news also covers balance sheet and portfolio actions. For example, First Internet Bancorp has announced an agreement to sell a substantial portfolio of performing single tenant lease financing loans to entities affiliated with Blackstone Real Estate Debt Strategies, along with related servicing arrangements. Such releases describe the expected impact on regulatory capital ratios, balance sheet flexibility, and exposure to specific loan types.
First Internet Bank-related news includes product and partnership announcements that reflect its digital banking focus. These have included recognition for its Do More Business Checking account, the availability of Zelle for eligible business customers through its digital banking platform, and partnerships with financial technology and payments companies in areas such as SBA lending and multi-user consumer financial accounts. Together, these updates give insight into how the bank develops and delivers its consumer, small business, and commercial banking services.
By reviewing the INBK news feed, readers can monitor earnings announcements, dividend declarations, loan portfolio transactions, stock repurchase authorizations, and product or technology partnerships that the company discloses through press releases and regulatory communications.
First Internet Bancorp (NASDAQ: INBK) is set to release its first quarter 2023 financial results after market close on April 26, 2023. A conference call to discuss these results will occur on April 27, 2023, at 2:00 p.m. ET. Investors can access the call via telephone or through a webcast on the company's website. First Internet Bancorp boasts assets of $4.5 billion as of December 31, 2022, providing various banking services nationwide, including consumer and small business financing. The company's stock is part of the Russell 2000® Index, highlighting its size and market relevance.
The Board of Directors of First Internet Bancorp (NASDAQ: INBK) has declared a quarterly cash dividend of $0.06 per common share. This dividend will be payable on April 17, 2023 to shareholders of record as of March 31, 2023. The future declaration and amount of dividends will depend on various factors including the company's financial performance and capital requirements. As of December 31, 2022, the company had total assets of $4.5 billion. First Internet Bancorp is known for its innovative, branchless banking services and is part of the Russell 2000® Index.
First Internet Bank has renewed its participation in the IntraFi® deposit network to provide access to ICS® and CDARS® products, enhancing customer deposit safety with FDIC insurance. This initiative allows customers to secure more than $250,000 through network banks. Nicole Lorch, President and COO, emphasized the increased peace of mind for customers due to this strategic alliance. As of December 31, 2022, the bank reported assets of $4.5 billion, providing a range of financial services including consumer and small business loans.
First Internet Bancorp (Nasdaq: INBK) announced its financial results for Q4 and the full year of 2022, highlighting a 21.2% year-over-year loan growth despite increased interest expenses impacting net interest margin.
Total annual net income was $35.5 million with diluted earnings per share of $3.70, down from $48.1 million and $4.82 respectively in 2021. The company is exiting its consumer mortgage business, aiming for a $6.8 million reduction in noninterest expenses. Share repurchases totaled over 800,000 shares at an average of $25.16, raising tangible book value to $39.74.
First Internet Bank has appointed Alan Peterson as Vice President, Senior Business Development Officer, enhancing its SBA lending team. With a decade of experience in the SBA sector, Peterson aims to provide personalized support to small business clients. His prior roles include SVP at BayFirst National Bank and various positions at Golden Mile Funding and Citizens Bank. As of September 30, 2022, First Internet Bank holds $4.3 billion in assets, offering a range of financial services including SBA financing and commercial loans.
First Internet Bancorp (Nasdaq: INBK) will announce its fourth quarter 2022 financial results after market close on January 25, 2023. A conference call and webcast to discuss the results is scheduled for January 26, 2023, at 2:00 p.m. ET. The bank, which has assets of $4.3 billion, has been a pioneer in branchless banking since 1999. Investors can access the webcast and presentation slides on the company's website.
The Board of Directors of First Internet Bancorp (Nasdaq: INBK) has authorized a new stock repurchase program with a total buyback amount of $25.0 million, set to expire on December 31, 2023. This program replaces the previous repurchase plan and allows for the acquisition of common stock at management's discretion. Any repurchases will be influenced by market conditions and the Company's financial health, with no obligation to repurchase shares. The Company aims to enhance shareholder value through this initiative.
The Board of Directors of First Internet Bancorp (NASDAQ: INBK) has declared a quarterly cash dividend of $0.06 per common share. This dividend will be payable on January 17, 2023 to shareholders of record as of December 30, 2022. Future cash dividends will depend on various factors including the Company’s financial condition and operational results. As of September 30, 2022, First Internet Bancorp has assets totaling $4.3 billion.
First Internet Bank has appointed Ben Rosensweet as Vice President, Senior Business Development Officer. Rosensweet brings extensive experience in finance and business development, particularly in the Small Business Administration (SBA) sector. His addition aims to enhance the bank's capabilities in supporting small business clients through government lending initiatives. The bank's assets total $4.3 billion as of September 30, 2022, indicating a strong financial position to deliver consumer and business financing solutions.
First Internet Bank has launched a $16 million home loan purchase agreement with Greater Indy Habitat for Humanity to facilitate affordable housing in Indiana. This partnership aims to complete 100 homes across Marion, Hancock, Hendricks, and Hamilton counties from 2023 to 2025, addressing the housing crisis affecting local residents. With assets of $4.3 billion as of September 30, 2022, First Internet Bank continues to play a crucial role in promoting homeownership, demonstrating its commitment to community development and financial stability.