Trade First Internet Bancorp - INBK CFD

First Internet Company profile

About First Internet Bancorp

First Internet Bancorp is a bank holding company that conducts its business activities through its subsidiary, First Internet Bank of Indiana (the Bank). The Company offers a range of commercial, small business, consumer and municipal banking products and services. It conducts consumer and small business deposit operations primarily through digital channels on a nationwide basis. Its residential mortgage products are offered nationwide primarily through a digital direct-to-consumer platform. Its commercial banking products and services are delivered through a relationship banking model and include commercial real estate (CRE) banking, commercial and industrial (C&I) banking, public finance, healthcare finance, small business lending and commercial deposits and treasury management. Its public finance team provides a range of public and municipal lending and leasing products to government entities on a nationwide basis.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, First Internet Bancorp interest income decreased 2% to $133.9M. Net interest income after loan loss provision increased 55% to $85.5M. Net income increased 63% to $48.1M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % increase of 34% to 2.25%, Net Interest Spread, Total - % increase of 44% to 1.99%, Loans. increase of 2% to $123.5M.

Equity composition

6/7, Stock split three-for-two (0.666667) has been applied.