First Internet Bancorp Reports Q4 Revenue of $41.7M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 29 2026
0mins
Should l Buy INBK?
Reports Q4 revenue $41.7M, consensus $32.8M. Reports Q4: Net interest margin of 2.22% and FTE net interest margin of 2.30%, each increased 55 basis points, from the prior year period. Pre-provision net revenue of $17.5 million1 and adjusted PPNR of $17.9 million1, which increased 66% from the prior year period. "We are pleased to close 2025 with strong fourth quarter results that demonstrate the resilience of our differentiated digital banking model," said David Becker, Chairman and CEO of First Internet Bancorp. "In 2025, we produced solid core financial performance as net interest income grew 30% year-over-year and delivered meaningful strategic accomplishments including the successful $850 million single tenant lease financing loan sale to Blackstone, exceptional growth in our Banking-as-a-Service initiatives and strategic investments in technology to further improve our credit underwriting and efficiency."
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Analyst Views on INBK
Wall Street analysts forecast INBK stock price to rise
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 21.820
Low
22.00
Averages
27.33
High
35.00
Current: 21.820
Low
22.00
Averages
27.33
High
35.00
About INBK
First Internet Bancorp is a bank holding company, which is engaged in conducting its primary business activities through its wholly owned subsidiary, First Internet Bank of Indiana (the Bank), an Indiana chartered bank. The Bank offers a range of commercial, small business, consumer and municipal banking products and services. The Bank conducts its consumer and small business deposit operations primarily through digital channels on a nationwide basis and have no traditional branch offices. Its consumer lending products are primarily originated on a nationwide basis through relationships with dealerships and financing partners. The Bank's commercial banking products and services are delivered through a relationship banking model and include commercial and industrial (C&I) banking, construction and investor commercial real estate, single tenant lease financing, public finance, healthcare finance, small business lending, commercial deposits, and treasury management.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First Internet Bank Appoints New SBA National Sales Manager
- New Appointment: First Internet Bank has announced the appointment of Gary Carter as the Small Business Administration (SBA) National Sales Manager, tasked with leading the national SBA sales strategy aimed at expanding client relationships and increasing loan volume, thereby enhancing the lending experience for small business clients.
- Experienced Leader: In his previous role as Senior Credit Officer, Carter worked closely with the sales team to optimize deal structures and improve loan conversion rates, showcasing his expertise in driving successful SBA loan outcomes, which is expected to enhance the bank's loan issuance efficiency.
- Strategic Focus: Carter emphasizes that strong SBA growth relies on clarity and consistent execution rather than merely chasing volume, a philosophy that will help the bank maintain robust performance while expanding its market presence and building customer trust.
- Industry Background: Prior to joining First Internet Bank, Carter gained extensive experience at Live Oak Bank, where he supported sales teams in efficiently navigating the SBA loan process, and he is expected to leverage this experience to assist small business owners in securing loans, driving the bank's business growth.
See More
First Internet Bank Earns Top Checking Account Distinction
- Award Recognition: First Internet Bank's Do More Business™ Checking account has been awarded the top checking account distinction in the MoneyRates 2026 Banking Awards, highlighting its competitive edge among U.S. financial institutions representing over half of all bank deposits.
- Transparent Fees: The account's high ranking is attributed to the elimination of monthly maintenance and overdraft fees while maintaining a low $100 minimum opening deposit, which helps business owners reduce unnecessary costs and enhances customer satisfaction.
- Consecutive Awards: The Do More Business™ Checking account has been recognized as a 2025 Silver winner for Small or Medium Business Product of the Year by the Best in Biz Awards for the third consecutive year, further solidifying its market position and demonstrating the product's ongoing appeal.
- Industry Pioneer: Since its inception in 1999, First Internet Bank has been a pioneer in branchless banking services, boasting assets of $5.6 billion and offering a diverse range of financial services, showcasing its innovative capabilities and market adaptability.
See More
First Internet Bancorp Q4 2025 Earnings Call Highlights
- Significant Revenue Growth: First Internet Bancorp reported a net income of $5.3 million for Q4 2025, translating to $0.60 per diluted share, with adjusted total revenue reaching $42.1 million, reflecting a robust 21% year-over-year increase that underscores the strength of its digital banking model.
- Interest Income Improvement: The bank experienced a 30% year-over-year increase in net interest income, with net interest margin rising to 2.22%, driven by effective expense management and a decrease in funding costs from 4.30% to 3.68%, laying a solid foundation for future profitability.
- Loan and Deposit Growth: As of December 31, 2025, total loans reached $3.7 billion, up $143 million from the linked quarter, while total deposits stood at $4.8 billion, with loan growth projected to remain between 15% and 17% in 2026, reflecting a strong commercial lending pipeline.
- Increased Credit Loss Provisions: Management anticipates an increase in provisions for credit losses to between $50 million and $53 million in 2026, primarily addressing specific credit issues in the SBA and franchise finance portfolios, indicating a cautious approach to future credit risks.
See More
First Internet Bancorp (INBK) Earnings Transcript
See More
First Internet Bancorp Q4 Earnings Beat Expectations
- Strong Earnings Performance: First Internet Bancorp reported a Q4 GAAP EPS of $0.60, beating expectations by $0.02, which reflects the company's ongoing profitability enhancement and strengthens investor confidence.
- Significant Revenue Growth: The company achieved revenue of $41.7 million in Q4, a 5.6% year-over-year increase, surpassing market expectations by $8.9 million, indicating robust business momentum and effective market adaptation.
- Positive Market Reaction: The earnings beat is likely to positively impact First Internet Bancorp's stock price, attracting more investor attention and enhancing market confidence in its future growth prospects.
- Healthy Financial Position: The continuous revenue growth and improved profitability suggest a solid financial health for the company in the current economic environment, providing a strong foundation for future expansion and investment.
See More
First Internet Bancorp Declares $0.06 Quarterly Cash Dividend
- Dividend Announcement: The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share, payable on January 15, 2026, to shareholders of record as of December 31, 2025, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
- Financial Position: As of September 30, 2025, First Internet Bancorp reported total assets of $5.6 billion, reflecting robust growth and a strong market position in the branchless banking service sector.
- Future Outlook: Future cash dividends will be subject to the Board's discretion, considering factors such as operational results, financial condition, and capital requirements, indicating the company's strategic focus on flexibility in responding to market changes while maintaining financial health.
- Market Positioning: As a Nasdaq-listed company and a component of the Russell 2000 Index, First Internet Bancorp's dividend policy may attract more investor attention, thereby enhancing its market competitiveness and boosting shareholder confidence.
See More
First Internet Bank Appoints New SBA National Sales Manager
- New Appointment: First Internet Bank has announced the appointment of Gary Carter as the Small Business Administration (SBA) National Sales Manager, tasked with leading the national SBA sales strategy aimed at expanding client relationships and increasing loan volume, thereby enhancing the lending experience for small business clients.
- Experienced Leader: In his previous role as Senior Credit Officer, Carter worked closely with the sales team to optimize deal structures and improve loan conversion rates, showcasing his expertise in driving successful SBA loan outcomes, which is expected to enhance the bank's loan issuance efficiency.
- Strategic Focus: Carter emphasizes that strong SBA growth relies on clarity and consistent execution rather than merely chasing volume, a philosophy that will help the bank maintain robust performance while expanding its market presence and building customer trust.
- Industry Background: Prior to joining First Internet Bank, Carter gained extensive experience at Live Oak Bank, where he supported sales teams in efficiently navigating the SBA loan process, and he is expected to leverage this experience to assist small business owners in securing loans, driving the bank's business growth.
See More
First Internet Bank Earns Top Checking Account Distinction
- Award Recognition: First Internet Bank's Do More Business™ Checking account has been awarded the top checking account distinction in the MoneyRates 2026 Banking Awards, highlighting its competitive edge among U.S. financial institutions representing over half of all bank deposits.
- Transparent Fees: The account's high ranking is attributed to the elimination of monthly maintenance and overdraft fees while maintaining a low $100 minimum opening deposit, which helps business owners reduce unnecessary costs and enhances customer satisfaction.
- Consecutive Awards: The Do More Business™ Checking account has been recognized as a 2025 Silver winner for Small or Medium Business Product of the Year by the Best in Biz Awards for the third consecutive year, further solidifying its market position and demonstrating the product's ongoing appeal.
- Industry Pioneer: Since its inception in 1999, First Internet Bank has been a pioneer in branchless banking services, boasting assets of $5.6 billion and offering a diverse range of financial services, showcasing its innovative capabilities and market adaptability.
See More
First Internet Bancorp Q4 2025 Earnings Call Highlights
- Significant Revenue Growth: First Internet Bancorp reported a net income of $5.3 million for Q4 2025, translating to $0.60 per diluted share, with adjusted total revenue reaching $42.1 million, reflecting a robust 21% year-over-year increase that underscores the strength of its digital banking model.
- Interest Income Improvement: The bank experienced a 30% year-over-year increase in net interest income, with net interest margin rising to 2.22%, driven by effective expense management and a decrease in funding costs from 4.30% to 3.68%, laying a solid foundation for future profitability.
- Loan and Deposit Growth: As of December 31, 2025, total loans reached $3.7 billion, up $143 million from the linked quarter, while total deposits stood at $4.8 billion, with loan growth projected to remain between 15% and 17% in 2026, reflecting a strong commercial lending pipeline.
- Increased Credit Loss Provisions: Management anticipates an increase in provisions for credit losses to between $50 million and $53 million in 2026, primarily addressing specific credit issues in the SBA and franchise finance portfolios, indicating a cautious approach to future credit risks.
See More
First Internet Bancorp (INBK) Earnings Transcript
See More
First Internet Bancorp Q4 Earnings Beat Expectations
- Strong Earnings Performance: First Internet Bancorp reported a Q4 GAAP EPS of $0.60, beating expectations by $0.02, which reflects the company's ongoing profitability enhancement and strengthens investor confidence.
- Significant Revenue Growth: The company achieved revenue of $41.7 million in Q4, a 5.6% year-over-year increase, surpassing market expectations by $8.9 million, indicating robust business momentum and effective market adaptation.
- Positive Market Reaction: The earnings beat is likely to positively impact First Internet Bancorp's stock price, attracting more investor attention and enhancing market confidence in its future growth prospects.
- Healthy Financial Position: The continuous revenue growth and improved profitability suggest a solid financial health for the company in the current economic environment, providing a strong foundation for future expansion and investment.
See More
First Internet Bancorp Declares $0.06 Quarterly Cash Dividend
- Dividend Announcement: The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share, payable on January 15, 2026, to shareholders of record as of December 31, 2025, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
- Financial Position: As of September 30, 2025, First Internet Bancorp reported total assets of $5.6 billion, reflecting robust growth and a strong market position in the branchless banking service sector.
- Future Outlook: Future cash dividends will be subject to the Board's discretion, considering factors such as operational results, financial condition, and capital requirements, indicating the company's strategic focus on flexibility in responding to market changes while maintaining financial health.
- Market Positioning: As a Nasdaq-listed company and a component of the Russell 2000 Index, First Internet Bancorp's dividend policy may attract more investor attention, thereby enhancing its market competitiveness and boosting shareholder confidence.
See More
