{"schema_version":"secwatch.filing_event.v1","accession":"0001562463-23-000013","form_type":"8-K","ticker":"INBK","cik":"0001562463","company_name":"First Internet Bancorp","filed_at":"2023-01-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:45.586749+00:00","generated_at":"2026-06-20T09:30:07.228481+00:00","sec_items":["2.02","2.05","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"First Internet Bancorp Q4 net income $6.4M ($0.68 EPS); exits consumer mortgage business","bullets":["Net income Q4 $6.4M ($0.68 diluted) vs $8.4M ($0.89) linked quarter and $12.5M ($1.25) year ago. Full year 2022 net income $35.5M ($3.70 EPS).","Total loans $3.5B, up 7.5% linked quarter and 21.2% YoY; net interest margin declined to 2.09% from 2.40%.","Exiting consumer mortgage business in Q1 2023; expects $6.8M annual expense reduction and $2.7M pre-tax income increase; $3.3M restructuring costs in H1 2023.","Repurchased 284,286 shares in Q4 at avg $25.16; tangible book value $39.74 per share.","Provision for loan losses $2.1M; CECL adoption in Q1 2023 with $2.5-$3.0M initial adjustment."],"urls":{"canonical":"https://secwatch.observer/filing/0001562463-23-000013","json":"https://secwatch.observer/filing/0001562463-23-000013.json","markdown":"https://secwatch.observer/filing/0001562463-23-000013.md","text":"https://secwatch.observer/filing/0001562463-23-000013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1562463/000156246323000013/0001562463-23-000013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1562463/000156246323000013/inbk-20230125.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T09:30:07.228481+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5321404a9fbd3bcd6d1758752fc29d814f6f62f3","claim":"First Internet Bancorp reported the quarter and year ended December 31, 2022 results: net income $6.4 million, EPS $0.68 diluted earnings per share.","evidence_excerpt":"Quarterly net income of $6.4 million and $0.68 diluted earnings per share","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1562463/000156246323000013/0001562463-23-000013-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter and year ended December 31, 2022"},{"label":"Net income","value":"$6.4 million"},{"label":"EPS","value":"$0.68 diluted earnings per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"efaeb492e84086db08f9276271baeab5412b6de1","claim":"First Internet Bancorp announced a restructuring with charges of total pre-tax expense of approximately $3.3 million affecting consumer mortgage business ($3.1 million in severance and other employee-related costs).","evidence_excerpt":"The Company estimates that it will incur total pre-tax expense of approximately $3.3 million in the first and second quarters of 2023 associated with exiting the consumer mortgage business.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1562463/000156246323000013/0001562463-23-000013-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"total pre-tax expense of approximately $3.3 million"},{"label":"Affected area","value":"consumer mortgage business"},{"label":"Headcount","value":"$3.1 million in severance and other employee-related costs"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}