First Internet Bancorp Q2 net income $9.5M ($0.99 EPS), down from Q1 and YoY

First Internet Bancorp

2022-Q2 EPS reported $2.13

Net income $9.5M ($0.99 diluted EPS) vs $11.2M ($1.14) Q1'22 and $13.1M ($1.31) Q2'21.
Adjusted net income $10.3M ($1.06) excluding nonrecurring items.
Total loans $3.1B, up $201M (7.0%) QoQ; commercial +4.2%, consumer +21.5%.
Net interest margin 2.60% (up 4bps QoQ); provision for loan losses $1.2M on loan growth.
Repurchased 294,464 shares at avg $37.77; book value per share $38.85.

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