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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	214.12	192.34	140.6	123.47	120.63	122.23
Interest Income on Investments	54.3	47.11	16.31	10.42	16.23	25.19
Total Interest Income	268.41	239.44	156.91	133.88	136.86	147.41
Interest Paid on Deposits	168.04	143.36	41.83	29.82	55.98	69.31
Interest Paid on Borrowings	21.13	21.18	17.98	17.51	16.34	15.13
Total Interest Expense	189.17	164.54	59.82	47.33	72.32	84.45
Net Interest Income	79.25	74.9	97.09	86.56	64.54	62.97
Net Interest Income Growth (YoY)	-4.96%	-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	7.76	5.52	4.42	3.67	3.21	3.63
Total Non-Interest Income	34.19	26.13	21.26	32.84	36.34	16.79
Non-Interest Income Growth (YoY)	59.46%	22.90%	-35.28%	-9.61%	116.43%	91.66%
Revenues Before Loan Losses	113.43	101.03	118.35	119.4	100.88	79.76
Provision for Loan Losses	12.02	16.65	4.98	1.03	9.33	5.97
Revenue	101.42	84.38	113.37	118.37	91.55	73.79
Revenue Growth (YoY)	11.80%	-25.58%	-4.22%	29.29%	24.07%	9.91%
Salaries and Employee Benefits	45.41	44.06	39.52	35.83	32.12	25.33
Occupancy Expenses	11.14	10.6	10.69	7.06	6.4	6.06
Federal Deposit Insurance	4.72	3.88	1.15	1.21	1.81	1.9
Selling, General & Administrative	9.72	9.28	12.4	11.36	8.8	8.49
Other Non-Interest Expense	12.19	11.61	9.51	6.34	6.46	4.85
Total Non-Interest Expense	83.17	79.44	73.27	61.8	57.65	46.63
EBT Excluding Unusual Items	18.24	4.94	40.1	56.57	33.9	27.16
Pretax Income	18.24	4.94	40.1	56.57	33.9	27.16
Income Tax Expense	-0.26	-3.48	4.56	8.46	4.45	1.92
Net Income	18.51	8.42	35.54	48.11	29.45	25.24
Net Income to Common	18.51	8.42	35.54	48.11	29.45	25.24
Net Income Growth	18.25%	-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)	-4.99%	-7.67%	-3.82%	1.36%	-2.01%	5.64%
EPS (Basic)	2.13	0.95	3.73	4.85	2.99	2.51
EPS (Diluted)	2.11	0.95	3.70	4.82	2.99	2.51
EPS Growth	24.50%	-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	-	-	11.37%	14.95%	13.11%	7.06%

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