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Christian Justin P. reported acquisition or exercise transactions in this Form 4 filing.
First Internet Bancorp director Christian Justin P. received a grant of 2,416 shares of common stock as a restricted stock award. The award was granted at $0.00 per share as compensation, not through an open-market purchase or sale, and increases his direct holdings to 13,278 common shares.
The restricted stock is scheduled to vest on the earlier of May 18, 2027 or immediately before the company’s next annual shareholders’ meeting. In addition to these direct holdings, 28,722 common shares are reported as held indirectly through Market Street Capital Inc.
First Internet Bancorp reported Q1 2026 net income of $2.5 million, up from $0.9 million a year earlier, with basic and diluted earnings per share of $0.29 versus $0.11. Net interest income rose to $31.6 million from $25.1 million as deposit interest expense declined, though the provision for credit losses on loans increased to $16.6 million, reflecting ongoing credit costs, particularly in small business and franchise finance.
Total assets reached $5.71 billion, up from $5.57 billion at year-end, with loans at $3.78 billion and deposits at $4.98 billion. The allowance for credit losses on loans grew to $56.5 million. Noninterest income was $11.5 million, driven by $7.4 million of gains on loan sales and $2.9 million of servicing revenue, while noninterest expense totaled $25.0 million. Comprehensive income was $1.3 million after recognizing unrealized losses in the securities portfolio.
First Internet Bancorp reported much stronger results for the first quarter of 2026, with net income of $2.5 million, up 166% from a year ago, and diluted EPS of $0.29, up 164%. Total revenue rose 21% year-over-year to $43.1 million, driven by a 26% increase in net interest income to $31.6 million and a 10% rise in noninterest income to $11.5 million.
The bank’s net interest margin expanded to 2.36% (2.45% on a fully taxable-equivalent basis), 54 basis points higher than a year earlier, as higher loan yields and lower deposit costs improved spread. Pre-provision net revenue grew 51% to $18.1 million, showing stronger core earnings before credit costs.
Credit costs remained elevated, with a $16.3 million provision for credit losses and net charge-offs equal to 1.65% of average loans. Nonperforming loans rose to 1.63% of total loans, though ratios improve when fully guaranteed balances are excluded. Loans totaled $3.8 billion and deposits $5.0 billion, while tangible book value per share held at $40.87. Management is broadly maintaining its 2026 guidance but signaled that its 15–17% loan growth target may be ambitious given higher-than-expected payoffs and macro uncertainty.
First Internet Bancorp investors John and Susan Lame have jointly filed a Schedule 13D reporting beneficial ownership of several blocks of the bank’s common stock through a family trust, individual IRAs, Roth IRAs, and personal holdings. Individual positions include 149,224 shares in the John C. Lame IRA and 137,632 shares in the John C. Lame Roth IRA, each representing 1.72% and 1.58% of the class, respectively, based on 8,686,994 shares outstanding as of December 31, 2025.
The shares were acquired with the Reporting Persons’ own funds for investment purposes, and they state a belief that First Internet Bancorp’s value exceeds its current market price. They indicate an objective to profit from share price appreciation and plan to discuss shareholder returns and strategy for creating shareholder value with management, the board, and other shareholders. They may buy additional shares or sell shares over time depending on market conditions and their investment considerations.
First Internet Bancorp amendment: The Vanguard Group files an amended Schedule 13G disclosing 0 shares of Common Stock beneficially owned, representing 0% of the class. The amendment explains an internal realignment on January 12, 2026 that caused certain Vanguard subsidiaries/divisions to report beneficial ownership separately.
First Internet Bancorp announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per common share. The dividend will be paid on April 15, 2026 to shareholders of record as of the close of business on March 31, 2026.
The company notes that any future dividends will be at the Board’s sole discretion and will depend on factors such as earnings, capital needs, regulatory limits, and overall financial condition. First Internet Bancorp reported $5.6 billion in assets as of December 31, 2025.
First Internet Bancorp director Joseph A. Fenech reported buying 1,000 shares of common stock in an open-market purchase on February 24, 2026, at a weighted-average price between $19.83 and $19.87 per share. Following this trade, he directly holds 10,102 shares. He also reports indirect ownership of 4,050 shares held by GenOpp Financial Fund LP, while stating that the filing is not an admission that he beneficially owns those securities.
First Internet Bancorp Executive Vice President and CFO Kenneth J. Lovik reported a routine insider transaction involving company common stock. On 01/31/2026, 1,116 shares of common stock at $21.79 per share were forfeited to satisfy tax withholding obligations tied to vesting restricted stock units. After this tax-related forfeiture, Lovik directly owned 51,733 shares of First Internet Bancorp common stock.
First Internet Bancorp furnished an update on its latest performance by issuing a press release with financial results for the quarter and year ended December 31, 2025. The company is also hosting a conference call and webcast on January 29, 2026, at 5:00 p.m. Eastern Time to discuss these results.
The press release is provided as Exhibit 99.1 and the accompanying electronic presentation slides as Exhibit 99.2. These materials are furnished, not filed, under securities law, meaning they are not automatically subject to certain liability provisions or incorporated into other regulatory documents unless specifically referenced.
First Internet Bancorp Executive Vice President & CFO Kenneth J. Lovik reported an equity award of 4,620 shares of common stock on January 20, 2026. The filing explains this represents a grant of restricted stock units (RSUs) under the First Internet Bancorp 2022 Equity Incentive Plan, with the RSUs scheduled to vest in substantially equal annual installments on January 31, 2027, January 31, 2028, and January 31, 2029.
After this grant, Lovik beneficially owns 52,849 shares of First Internet Bancorp common stock in direct form, which includes 328 shares acquired between February 28, 2025 and January 15, 2026 through the company’s Employee Stock Purchase Plan. The grant was reported at a price of $0 per share, reflecting its nature as an equity incentive award rather than an open-market purchase.