First Internet Bancorp (INBK)

First Internet Bancorp Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	225.01	192.34	140.6	123.47	120.63	122.23
Interest Income on Investments	55.38	47.11	16.31	10.42	16.23	25.19
Total Interest Income	280.39	239.44	156.91	133.88	136.86	147.41
Interest Paid on Deposits	175.12	143.36	41.83	29.82	55.98	69.31
Interest Paid on Borrowings	21.64	21.18	17.98	17.51	16.34	15.13
Total Interest Expense	196.76	164.54	59.82	47.33	72.32	84.45
Net Interest Income	83.63	74.9	97.09	86.56	64.54	62.97
Net Interest Income Growth (YoY)	8.95%	-22.85%	12.17%	34.11%	2.50%	1.12%
Mortgage Banking Activities	-	0.08	5.46	15.05	24.69	11.54
Gain (Loss) on Sale of Assets	-	-	-	2.52	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	0.14	-0.46
Other Non-Interest Income	8.02	5.52	4.42	3.67	3.21	3.63
Total Non-Interest Income	38.81	26.13	21.26	32.84	36.34	16.79
Non-Interest Income Growth (YoY)	58.83%	22.90%	-35.28%	-9.61%	116.43%	91.66%
Revenues Before Loan Losses	122.44	101.03	118.35	119.4	100.88	79.76
Provision for Loan Losses	13.46	16.65	4.98	1.03	9.33	5.97
Revenue	108.98	84.38	113.37	118.37	91.55	73.79
Revenue Growth (YoY)	26.53%	-25.58%	-4.22%	29.29%	24.07%	9.91%
Salaries and Employee Benefits	47.51	44.06	39.52	35.83	32.12	25.33
Occupancy Expenses	11.74	10.6	10.69	7.06	6.4	6.06
Federal Deposit Insurance	4.87	3.88	1.15	1.21	1.81	1.9
Selling, General & Administrative	9.68	9.28	12.4	11.36	8.8	8.49
Other Non-Interest Expense	12.41	11.61	9.51	6.34	6.46	4.85
Total Non-Interest Expense	86.21	79.44	73.27	61.8	57.65	46.63
EBT Excluding Unusual Items	22.77	4.94	40.1	56.57	33.9	27.16
Pretax Income	22.77	4.94	40.1	56.57	33.9	27.16
Income Tax Expense	0.68	-3.48	4.56	8.46	4.45	1.92
Net Income	22.09	8.42	35.54	48.11	29.45	25.24
Net Income to Common	22.09	8.42	35.54	48.11	29.45	25.24
Net Income Growth	107.90%	-76.32%	-26.13%	63.36%	16.70%	15.25%
Basic Shares Outstanding	9	9	10	10	10	10
Diluted Shares Outstanding	9	9	10	10	10	10
Shares Change (YoY)	-3.00%	-7.67%	-3.82%	1.36%	-2.01%	5.64%
EPS (Basic)	2.54	0.95	3.73	4.85	2.99	2.51
EPS (Diluted)	2.53	0.95	3.70	4.82	2.99	2.51
EPS Growth	113.67%	-74.32%	-23.24%	61.20%	19.12%	9.13%
Dividend Per Share	0.240	0.240	0.240	0.240	0.240	0.240
Effective Tax Rate	3.00%	-	11.37%	14.95%	13.11%	7.06%

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