First Internet Bancorp Q4 net income rises 21.5% sequentially; NIM expands 19 bps

First Internet Bancorp

2023-FY EPS reported $0.95

Q4 net income $4.1M ($0.48 diluted EPS) up 21.5% from Q3; full year net income $9.9M ($1.17 EPS).
Net interest margin expanded 19 bps to 1.58% (FTE 1.68%) on higher loan and security yields.
Loans grew $105.2M (2.8%) to $3.8B, led by franchise finance, SBA, C&I, and construction.
Nonperforming loans rose to 0.26% from 0.16% linked quarter; net charge-offs 0.12% of avg loans.
Repurchased 40k shares at avg $18.78 in Q4; 502,525 shares repurchased in 2023 at avg $18.40.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.89

First Internet Bancorp reported financial results for quarter and year ended December 31, 2023.

Period: quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On January 24, 2024, First Internet Bancorp (the "Company") issued a press release announcing its financial results for the quarter and year ended December 31, 2023.

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First Internet Bancorp filing history →

Source: SEC EDGAR

accession 0001562463-24-000011

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