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) reported second-quarter net income of $9.5 million ($0.99 per diluted share), a decline from $11.2 million in Q1 2022 and $13.1 million in Q2 2021. Adjusted net income stood at $10.3 million with a diluted earnings share of $1.06. Loan growth reached $201.3 million (7.0% increase QoQ). Net interest margin improved to 2.60%. Noninterest income decreased to $4.3 million from $6.8 million in Q1 2022. The firm repurchased 294,464 shares at an average price of $37.77.
First Internet Bancorp (NASDAQ: INBK) will release its Q2 2022 financial results post-market on July 20, 2022. Following this, a conference call and webcast are scheduled for July 21, 2022 at 12:00 p.m. Eastern Time. Investors can access the call via U.S. toll-free number 1-844-200-6205 and international number +1-929-526-1599, using access code 984774. The replay will be available for a month, until August 20, 2022.
As of March 31, 2022, First Internet Bancorp reported assets of $4.2 billion.
First Internet Bank has appointed Nicole Woodson as Vice President and Community Reinvestment Act (CRA) Officer. Woodson will oversee the Bank's CRA plan and collaborate with local organizations to enhance community outreach. Nicole Lorch, the Bank's President, emphasized the importance of meeting community needs as a key part of the Bank's strategic vision. Woodson joins from Regions Bank, bringing prior experience from The National Bank of Indianapolis and the FDIC. First Internet Bank, a pioneer in branchless banking, has $4.2 billion in assets as of March 31, 2022.
First Internet Bancorp (NASDAQ: INBK) has declared a quarterly cash dividend of $0.06 per common share, payable on July 15, 2022, to shareholders of record as of July 1, 2022. The future amount and declaration of dividends depend on various factors including the company's financial condition and operations. As of March 31, 2022, First Internet Bancorp reported assets totaling $4.2 billion. The company provides a range of banking services, including residential and commercial loans, nationally and regionally.
First Internet Bank has raised its minimum hourly wage for full-time employees to $20.00, addressing inflation and aiming to attract talented staff. President Nicole Lorch emphasized the importance of supporting teams amid rising costs of living. The Bank recently implemented a flexible work model to enhance productivity and work-life balance. Recognized as one of The Indianapolis Star’s Top Workplaces for nine consecutive years, First Internet Bank has assets of $4.2 billion as of March 31, 2022, offering various banking services nationally.
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First Century Bancorp announced the termination of its merger agreement with First Internet Bancorp (INBK) due to delays in obtaining regulatory approval. The decision was made after the parties couldn't reach new terms. Each company will incur its own costs related to the terminated deal, with no termination fee paid. CEO William Blanton expressed confidence in First Century's ability to continue providing technology-driven financial solutions and growing its offerings independently.
First Internet Bancorp (INBK) announced the termination of its merger agreement with First Century Bancorp, which was initially set to close by April 30, 2022. The merger received Federal Reserve approval on April 29, 2022, but the parties couldn't agree on extension terms, leading to the termination on May 1, 2022. CEO David Becker emphasized the commitment to shareholder value and indicated ongoing efforts to identify new strategic opportunities despite the setback.
First Internet Bancorp (INBK) reported a quarterly net income of $11.2 million for Q1 2022, a decrease from $12.5 million in Q4 2021 but an increase from $10.5 million in Q1 2021. Quarterly diluted earnings per share were $1.14, compared to $1.25 and $1.05 in the previous quarters. Total revenue rose 4.4% quarter-over-quarter to $32.6 million. The net interest margin improved to 2.56%, up from 2.30% in Q4 2021. The report included share repurchases totaling 103,703 shares at an average price of $49.35.
First Internet Bank enhances its SBA Lending team with the appointment of Genevieve Lua as Vice President, Business Development Officer. Lua brings extensive experience from her previous roles at Bank of America and JPMorgan Chase. The bank aims to improve access to capital for small businesses, aligning with Lua's commitment to flexible financial solutions. As of December 31, 2021, the bank reported assets of $4.2 billion.