earnings
confidence high
sentiment positive
materiality 0.75
First Internet Bancorp Q2 net income $2.4M, EPS $0.27; credit quality improves
First Internet Bancorp
- Net income of $2.4M vs $0.2M a year ago; diluted EPS $0.27 vs $0.02.
- Provision for credit losses $13.4M, down from $16.3M in Q1; nonaccrual loans down 14% QoQ.
- Revenue $41.1M, up 23% YoY; net interest income up 16%; NIM 2.47% (+43 bps).
- Noninterest income up 56% YoY; BaaS fee revenue up 172% from prior year.
- Delinquencies 30+ days fell to 0.78% of performing loans from 1.06% in Q1.