secwatch.observer — SEC 8-K summary
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Issuer:     First Internet Bancorp (INBK)
CIK:        0001562463
Form:       8-K
Filed at:   2024-01-24T23:59:59+00:00
Accession:  0001562463-24-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1562463/000156246324000011/0001562463-24-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1562463/000156246324000011/inbk-20240124.htm
  HTML page:      https://secwatch.observer/filing/0001562463-24-000011

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