10-K · March 11, 2026
First Internet Bancorp positions itself as a digital-first bank focused on small business, SBA lending and fintech partnerships (ranked the 7th largest SBA 7(a) lender for the SBA’s 2025 fiscal year). The 2025 fiscal…
Earnings analysis · 10-Q
INBK earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
First Internet Bancorp delivered strong Q1 2026 results, driven by significant year-over-year revenue and EPS growth. Revenue of $43.1 million surged 21% from the previous year, while EPS soared 163.6% to $0.29,…
Read full summary
First Internet Bancorp delivered strong Q1 2026 results, driven by significant year-over-year revenue and EPS growth. Revenue of $43.1 million surged 21% from the previous year, while EPS soared 163.6% to $0.29, significantly exceeding analyst expectations. Despite challenges related to credit losses and macroeconomic uncertainties, the company maintained a positive outlook for the remainder of the year.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.29
What stood out
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Strong Revenue Growth
Reported revenue of $43.1 million, up 21% year-over-year from $35.5 million in Q1 2025.
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Exceptional EPS Performance
Diluted EPS rose to $0.29, a 164% increase from $0.11 in Q1 2025, surpassing estimates by $0.21.
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Increased Net Interest Income
Net interest income increased by $6.5 million or 25.9% to $31.6 million compared to $25.1 million in Q1 2025.
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Improved Profitability Metrics
Return on average assets (ROAA) improved to 0.18% from 0.07%, and return on average equity (ROAE) increased to 2.72% from 0.98%.
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Growth in Noninterest Income
Total noninterest income rose 10.5% to $11.5 million, driven by increased loan servicing and fintech partnership revenue.
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Sound Liquidity Position
Liquidity management remains robust, with total assets rising to $5.7 billion, up 2.5% from $5.6 billion as of December 31, 2025.
What to watch
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Rising Provision for Credit Losses
Provision for credit losses increased by $4.4 million, a 36.6% rise, indicating potential credit quality issues.
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Elevated Nonperforming Loans
Total nonperforming loans grew by 5.2% to $61.6 million, raising concerns over asset quality.
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Macroeconomic Uncertainty Impact
Management acknowledged macroeconomic challenges that could impact future performance and profitability.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-K · March 12, 2025
First Internet Bancorp (First Internet Bank of Indiana) positions itself as a digital, relationship-driven bank that is scaling small-business/SBA 7(a) origination and fintech partnerships while operating without…
10-Q · November 7, 2024
First Internet Bancorp reported a strong Q3 2024 quarter with total revenue of $33,794,000 (NII $21,765,000 + noninterest income $12,029,000) and diluted EPS of $0.80, up from $0.39 in Q3 2023. Net income rose to $7.0…
10-Q · August 7, 2024
First Internet Bancorp reported solid Q2 2024 operating results with total revenue (net interest income plus noninterest income) of $32.36 million and net income of $5.8 million ($0.67 diluted EPS), up from $3.9 million…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.