Quarterly ResultMay 6, 2026, 04:21 PM
First Internet Bancorp Q1 Net Income $2.51M; EPS $0.29
AI Summary
First Internet Bancorp reported a significant increase in net income for the first quarter of 2026, reaching $2.51 million, up from $0.94 million in the prior year. Diluted earnings per share rose to $0.29 from $0.11. The company also saw a substantial increase in net interest income, driven by lower interest expenses, and an improvement in cash provided by operating activities. Total assets and deposits grew compared to the end of 2025.
Key Highlights
- Net income for Q1 2026 increased to $2.51 million from $0.94 million in Q1 2025.
- Diluted earnings per share rose to $0.29 in Q1 2026 from $0.11 in Q1 2025.
- Net interest income grew to $31.60 million in Q1 2026 from $25.10 million in Q1 2025.
- Total interest expense decreased to $44.21 million in Q1 2026 from $51.73 million in Q1 2025.
- Total assets increased to $5.71 billion as of March 31, 2026, from $5.57 billion at December 31, 2025.
- Total deposits reached $4.98 billion as of March 31, 2026, up from $4.84 billion at December 31, 2025.
- Net cash provided by operating activities significantly increased to $75.55 million from $32.83 million year-over-year.
- Dividends declared per share remained stable at $0.06 for both periods.
Price Impact
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