First Internet Bancorp Q1 net loss $1.3M, adjusted EPS $0.53; deposit growth $181M

First Internet Bancorp

2022-Q3 EPS reported -$0.33

Net loss $1.3M ($0.14 EPS); adjusted net income $4.8M ($0.53 EPS) excluding $4.7M charge-off and $3.0M mortgage exit costs.
Deposits grew $181M (5.3% QoQ); uninsured deposits 26% of total; no new FHLB/Fed borrowings; borrowing capacity $628M.
Net interest margin fell to 1.76% (FTE 1.89%) from 2.09% in Q4 2022 due to higher deposit costs.
Nonperforming loans rose to 0.32% of total; ACL increased to 1.02%; net charge-offs $5.0M on one C&I participation loan.
Capital solid: CET1 10.35%, tangible common equity to assets 7.47%; repurchased 161,691 shares at avg $24.50.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

First Internet Bancorp reported the first quarter ended March 31, 2023 results: net income Net loss of $1.3 million, EPS diluted loss per share of $0.14.

Period: the first quarter ended March 31, 2023
Net income: Net loss of $1.3 million
EPS: diluted loss per share of $0.14
Result: reported results

Exact text from the filing

Net loss of $1.3 million and a diluted loss per share of $0.14

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Source: SEC EDGAR

accession 0001562463-23-000044

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