First Internet Bancorp (INBK)

First Internet Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	233.84	192.34	140.6	123.47	120.63
Interest Income on Investments	58.04	47.11	16.31	10.42	16.23
Total Interest Income	291.89	239.44	156.91	133.88	136.86
Interest Paid on Deposits	183.15	143.36	41.83	29.82	55.98
Interest Paid on Borrowings	21.36	21.18	17.98	17.51	16.34
Total Interest Expense	204.51	164.54	59.82	47.33	72.32
Net Interest Income	87.38	74.9	97.09	86.56	64.54
Net Interest Income Growth (YoY)	16.65%	-22.85%	12.17%	34.11%	2.50%
Mortgage Banking Activities	-	0.08	5.46	15.05	24.69
Gain (Loss) on Sale of Assets	-	-	-	2.52	-
Gain (Loss) on Sale of Investments	-	-	-	-	0.14
Other Non-Interest Income	14.02	5.52	4.42	3.67	3.21
Total Non-Interest Income	47.35	26.13	21.26	32.84	36.34
Non-Interest Income Growth (YoY)	81.22%	22.90%	-35.28%	-9.61%	116.43%
Revenues Before Loan Losses	134.72	101.03	118.35	119.4	100.88
Provision for Loan Losses	17.07	16.65	4.98	1.03	9.33
Revenue	117.65	84.38	113.37	118.37	91.55
Revenue Growth (YoY)	39.44%	-25.58%	-4.22%	29.29%	24.07%
Salaries and Employee Benefits	51.76	44.06	39.52	35.83	32.12
Occupancy Expenses	11.9	10.6	10.69	7.06	6.4
Federal Deposit Insurance	5	3.88	1.15	1.21	1.81
Selling, General & Administrative	8.78	9.28	12.4	11.36	8.8
Other Non-Interest Expense	12.67	11.61	9.51	6.34	6.46
Total Non-Interest Expense	90.11	79.44	73.27	61.8	57.65
EBT Excluding Unusual Items	27.54	4.94	40.1	56.57	33.9
Pretax Income	27.54	4.94	40.1	56.57	33.9
Income Tax Expense	2.27	-3.48	4.56	8.46	4.45
Net Income	25.28	8.42	35.54	48.11	29.45
Net Income to Common	25.28	8.42	35.54	48.11	29.45
Net Income Growth	200.30%	-76.32%	-26.13%	63.36%	16.70%
Basic Shares Outstanding	9	9	10	10	10
Diluted Shares Outstanding	9	9	10	10	10
Shares Change (YoY)	-1.05%	-7.67%	-3.82%	1.36%	-2.01%
EPS (Basic)	2.91	0.95	3.73	4.85	2.99
EPS (Diluted)	2.88	0.95	3.70	4.82	2.99
EPS Growth	203.16%	-74.32%	-23.24%	61.20%	19.12%
Dividend Per Share	0.240	0.240	0.240	0.240	0.240
Effective Tax Rate	8.23%	-	11.37%	14.95%	13.11%

Source: S&P Capital IQ. Banks template. Financial Sources.