Quarterly ResultApr 30, 2026, 04:23 PM
INBK Q1 Net Income +166% to $2.5M; Diluted EPS $0.29
AI Summary
First Internet Bancorp reported strong first quarter 2026 financial results, with net income increasing 166% year-over-year to $2.5 million and diluted EPS rising 164% to $0.29. The company saw significant revenue momentum, with total revenue up 21% to $43.1 million and pre-provision net revenue growing 51%. Management highlighted disciplined balance sheet repositioning, proactive liability management, and improving credit trends, positioning the company for improving profitability through 2026 and accelerating performance into 2027.
Key Highlights
- Net income of $2.5 million, up 166% year-over-year
- Diluted earnings per share of $0.29, up 164% year-over-year
- Total revenue of $43.1 million, increased 21% from prior year
- Net interest income of $31.6 million, up 26% year-over-year
- FTE net interest margin of 2.45%, up 54 bps from prior year
- Total loan balances of $3.8 billion, up 1% from Q4 2025
- Total deposits of $5.0 billion, up 3% from Q4 2025
- Provision for credit losses of $16.3 million, up 36.1% from Q4 2025