secwatch.observer — SEC 8-K summary
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Issuer:     First Internet Bancorp (INBK)
CIK:        0001562463
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001562463-23-000044
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1562463/000156246323000044/0001562463-23-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1562463/000156246323000044/inbk-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001562463-23-000044

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