---
schema_version: "secwatch.filing_event.v1"
accession: "0001562463-23-000048"
form_type: "8-K"
ticker: "INBK"
cik: "0001562463"
company_name: "First Internet Bancorp"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T21:53:38.201547+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First Internet Bancorp adds $2.2M charge-off, posts Q1 net loss $3.0M; deposits up 5%

## Summary
- Additional partial charge-off of $2.2M on a participation loan; total impairment of $6.9M.
- Q1 net loss of $3.0M, diluted EPS loss $0.33; shareholders' equity $355.6M.
- Deposit balances of $3.8B as of Apr 30, up $182.2M (5.0%) from Mar 31.
- Loans-to-deposits ratio 95.5% at Apr 30, down from 99.6% at Mar 31.
- Nonperforming loans to loans 0.26%, nonperforming assets to assets 0.19%.

## SEC filing metadata
- accession: 0001562463-23-000048
- form_type: 8-K
- ticker: INBK
- cik: 0001562463
- company_name: First Internet Bancorp
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 2.06, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1562463/000156246323000048/0001562463-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1562463/000156246323000048/inbk-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001562463-23-000048
- JSON: https://secwatch.observer/filing/0001562463-23-000048.json
- Plain text: https://secwatch.observer/filing/0001562463-23-000048.txt

## Key facts
- Earnings Releases
  First Internet Bancorp reported the first quarter ended March 31, 2023 results: net income net loss for the first quarter was $3.0 million, EPS diluted loss per share was $0.33.
  - Period: the first quarter ended March 31, 2023
  - Net income: net loss for the first quarter was $3.0 million
  - EPS: diluted loss per share was $0.33
  - Result: reported results
  source text: After accounting for the additional partial charge-off, our net loss for the first quarter was $3.0 million and diluted loss per share was $0.33.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1562463/000156246323000048/0001562463-23-000048-index.htm
- Restructurings & Charges
  First Internet Bancorp announced a impairment.
  - Type: impairment
  source text: The information set forth in Item 2.02 above regarding the material impairment resulting from the additional partial charge-off of the participation loan is incorporated into this Item 2.06 by reference. We do not expect any future cash expenditures related to the impairment.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1562463/000156246323000048/0001562463-23-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.