Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Mel Raines was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 15
First Internet Bancorp to Report Q1, 2026 Results on Apr 30, 2026 First Internet Bancorp announced that they will report Q1, 2026 results After-Market on Apr 30, 2026 Aankondiging • Mar 30
First Internet Bancorp, Annual General Meeting, May 18, 2026 First Internet Bancorp, Annual General Meeting, May 18, 2026. Aankondiging • Mar 18
First Internet Bancorp Declares Quarterly Cash Dividend, Payable on April 15, 2026 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on April 15, 2026 to shareholders of record at the close of business on March 31, 2026. Aankondiging • Jan 30
First Internet Bancorp Provides Earnings Guidance for the Year 2026 First Internet Bancorp provided earnings guidance for the year 2026. For the year, the company expects Continued loan growth in the range of 15% to 17%, driven by strong pipelines across commercial lending verticals.
FTE net interest income of $155 million to $160 million. Diluted earnings per share of $2.35 to $2.45. Aankondiging • Jan 14
First Internet Bancorp to Report Q4, 2025 Results on Jan 29, 2026 First Internet Bancorp announced that they will report Q4, 2025 results After-Market on Jan 29, 2026 Aankondiging • Dec 17
First Internet Bancorp Declares Quarterly Cash Dividend, Payable on January 15, 2026 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on January 15, 2026 to shareholders of record at the close of business on December 31, 2025. Aankondiging • Oct 23
First Internet Bancorp (NasdaqGS:INBK) announces an Equity Buyback for $25 million worth of its shares. First Internet Bancorp (NasdaqGS:INBK) announces a share repurchase program. Under the program, the company will repurchase up to $25 million worth of its common stock. The plan will be valid up to September 30, 2027. Aankondiging • Oct 09
First Internet Bancorp to Report Q3, 2025 Results on Oct 22, 2025 First Internet Bancorp announced that they will report Q3, 2025 results After-Market on Oct 22, 2025 Aankondiging • Sep 17
First Internet Bancorp Declares Quarterly Cash Dividend, Payable on October 15, 2025 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on October 15, 2025 to shareholders of record at the close of business on September 30, 2025. Aankondiging • Jul 24
First Internet Bancorp Reports Net Charge-Offs for the Second Quarter Ended June 30, 2025 First Internet Bancorp reported net charge-offs for the second quarter ended June 30, 2025. . For the quarter, the company reported net charge-offs of $14.3 million, resulting in net charge-offs to average loans of 1.31%, compared to $9.7 million, or 0.92%, for the first quarter of 2025, and $1.4 million, or 0.14%, for the second quarter of 2024. Aankondiging • Jul 11
First Internet Bancorp to Report Q2, 2025 Results on Jul 23, 2025 First Internet Bancorp announced that they will report Q2, 2025 results After-Market on Jul 23, 2025 Aankondiging • Jun 18
First Internet Bancorp to Pay Quarterly Cash Dividend, Payable on July 15, 2025 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on July 15, 2025 to shareholders of record at the close of business on June 30, 2025. Aankondiging • Apr 24
First Internet Bancorp Reports Net Charge-Offs for the First Quarter Ended March 31, 2025 First Internet Bancorp reported net charge-offs for the first quarter ended March 31, 2025. For the quarter, the company reported net charge-offs of $9.7 million, resulting in net charge-offs to average loans of 0.92%, compared to $9.4 million, or 0.91%, for the fourth quarter of 2024, and $0.5 million, or 0.05%, for the first quarter of 2024. Aankondiging • Apr 10
First Internet Bancorp to Report Q1, 2025 Results on Apr 23, 2025 First Internet Bancorp announced that they will report Q1, 2025 results After-Market on Apr 23, 2025 Aankondiging • Mar 28
First Internet Bancorp, Annual General Meeting, May 19, 2025 First Internet Bancorp, Annual General Meeting, May 19, 2025. Aankondiging • Mar 19
First Internet Bancorp Announces Quarterly Cash Dividend, Payable on April 15, 2025 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on April 15, 2025 to shareholders of record at the close of business on March 31, 2025. Aankondiging • Jan 09
First Internet Bancorp to Report Q4, 2024 Results on Jan 22, 2025 First Internet Bancorp announced that they will report Q4, 2024 results After-Market on Jan 22, 2025 Aankondiging • Dec 18
First Internet Bancorp to Pay Cash Dividend, Payable on January 15, 2025 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on January 15, 2025 to shareholders of record at the close of business on December 31, 2024. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €37.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 1.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €70.83 per share. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$0.80 (vs US$0.39 in 3Q 2023) Third quarter 2024 results: EPS: US$0.80 (up from US$0.39 in 3Q 2023). Revenue: US$30.4m (up 33% from 3Q 2023). Net income: US$6.99m (up 105% from 3Q 2023). Profit margin: 23% (up from 15% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Aankondiging • Oct 08
First Internet Bancorp to Report Q3, 2024 Results on Oct 23, 2024 First Internet Bancorp announced that they will report Q3, 2024 results After-Market on Oct 23, 2024 Declared Dividend • Sep 20
Second quarter dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.8%. Aankondiging • Sep 18
First Internet Bancorp Declares Quarterly Cash Dividend, Payable on October 15, 2024 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on October 15, 2024 to shareholders of record at the close of business on September 30, 2024. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €30.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 18% over the past three years. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$0.67 (vs US$0.44 in 2Q 2023) Second quarter 2024 results: EPS: US$0.67 (up from US$0.44 in 2Q 2023). Revenue: US$28.3m (up 27% from 2Q 2023). Net income: US$5.78m (up 49% from 2Q 2023). Profit margin: 20% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €29.80, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.74 per share. Aankondiging • Jul 09
First Internet Bancorp to Report Q2, 2024 Results on Jul 24, 2024 First Internet Bancorp announced that they will report Q2, 2024 results After-Market on Jul 24, 2024 Declared Dividend • Jun 24
First quarter dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 0.9%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 40% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 19
First Internet Bancorp Declares a Quarterly Cash Dividend, Payable on July 15, 2024 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on July 15, 2024 to shareholders of record at the close of business on June 28, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$0.60 (vs US$0.33 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.60 (up from US$0.33 loss in 1Q 2023). Revenue: US$26.6m (up 71% from 1Q 2023). Net income: US$5.18m (up US$8.20m from 1Q 2023). Profit margin: 20% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Aankondiging • Apr 04
First Internet Bancorp to Report Q1, 2024 Results on Apr 24, 2024 First Internet Bancorp announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on Apr 24, 2024 Aankondiging • Mar 29
First Internet Bancorp, Annual General Meeting, May 20, 2024 First Internet Bancorp, Annual General Meeting, May 20, 2024, at 13:00 US Eastern Standard Time. Agenda: To elect eight directors to serve until the next annual meeting of shareholders; to approve, in an advisory (non-binding) vote, the compensation paid to company's named executive officers; to ratify the appointment of FORVIS, LLP as company's independent registered public accounting firm for 2024; and to transact such other business as may properly come before the meeting or any adjournments thereof. Declared Dividend • Mar 25
Fourth quarter dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 0.7%, which is lower than the industry average of 4.8%. Payout Ratios Payout ratio: 25%. Forecast payout ratio in 3 years: 6%. Aankondiging • Mar 19
First Internet Bancorp Declares Quarterly Cash Dividend, Payable on April 15, 2024 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on April 15, 2024 to shareholders of record at the close of business on March 28, 2024. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: US$0.95 (vs US$3.73 in FY 2022) Full year 2023 results: EPS: US$0.95 (down from US$3.73 in FY 2022). Revenue: US$84.4m (down 26% from FY 2022). Net income: US$8.42m (down 76% from FY 2022). Profit margin: 10.0% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 1.67% (down from 2.54% in FY 2022). Non-performing loans: 0.26% (up from 0.22% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €29.60, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €53.87 per share. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$0.95 (vs US$3.73 in FY 2022) Full year 2023 results: EPS: US$0.95 (down from US$3.73 in FY 2022). Revenue: US$84.4m (down 26% from FY 2022). Net income: US$8.42m (down 76% from FY 2022). Profit margin: 10.0% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • Jan 25
First Internet Bancorp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2023 First Internet Bancorp reported net charge-offs for the fourth quarter ended December 31, 2023. Net charge-offs of $1.2 million were recognized during the fourth quarter of 2023 compared to $0.2 million a year ago. Aankondiging • Dec 20
First Internet Bancorp to Pay Quarterly Cash Dividend, Payable on January 16, 2024 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on January 16, 2024 to shareholders of record at the close of business on December 29, 2023. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €20.80, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 2.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €30.96 per share. Buying Opportunity • Nov 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be €19.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 161% in the next 2 years. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$0.39 (vs US$0.89 in 3Q 2022) Third quarter 2023 results: EPS: US$0.39 (down from US$0.89 in 3Q 2022). Revenue: US$22.8m (down 17% from 3Q 2022). Net income: US$3.41m (down 60% from 3Q 2022). Profit margin: 15% (down from 31% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €13.50, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 24% over the past three years. Aankondiging • Oct 05
First Internet Bancorp to Report Q3, 2023 Results on Oct 25, 2023 First Internet Bancorp announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Aankondiging • Sep 20
First Internet Bancorp Declares Quarterly Dividend, Payable on October 16, 2023 The Board of Directors of First Internet Bancorp has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on October 16, 2023 to shareholders of record at the close of business on September 29, 2023. Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: US$0.44 (vs US$0.99 in 2Q 2022) Second quarter 2023 results: EPS: US$0.44 (down from US$0.99 in 2Q 2022). Revenue: US$22.3m (down 23% from 2Q 2022). Net income: US$3.88m (down 59% from 2Q 2022). Profit margin: 17% (down from 33% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 4.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Aankondiging • Jul 28
First Internet Bancorp Announces Net Charge-Offs for the Second Quarter Ended June 30, 2023 First Internet Bancorp announced net charge-offs for the second quarter ended June 30, 2023. Net charge-offs were $1.6 million in the second quarter of 2023, compared to net charge-offs of $7.2 million in the first quarter of 2023. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €16.90, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.39 per share. Aankondiging • Jul 06
First Internet Bancorp to Report Q2, 2023 Results on Jul 26, 2023 First Internet Bancorp announced that they will report Q2, 2023 results After-Market on Jul 26, 2023 Aankondiging • Jun 21
First Internet Bancorp Declares Quarterly Cash Dividend, Payable on July 17, 2023 First Internet Bancorp declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on July 17, 2023 to shareholders of record at the close of business on June 30, 2023. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €13.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 4.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €12.37 per share. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €10.80, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.98 per share. Aankondiging • May 19
First Internet Bancorp Announces Board Committee Changes On May 15, 2023, the Board of Directors of First Internet Bancorp, upon the recommendation of its Nominating and Corporate Governance Committee, named John K. Keach, Jr. as its lead independent director and Vice Chair and made changes to membership of its Board committees. Specifically, the Board moved director Justin P. Christian from its Compensation Committee to its Audit and Risk Committee, adding Mr. Christian’s cybersecurity expertise to the Audit and Risk Committee, and appointed Jean L. Wojtowicz to its Nominating and Corporate Governance Committee. The following chart shows the current directors and committee composition: Audit & Risk Committee: Jean L. Wojtowicz as chairman, Justin P. Christian and Ann C. Dee as members. Compensation Committee: John K. Keach, Jr. as Chair, Aasif M. Bade and Ann C. Dee as members; Nominating and Corporate Governance Committee: Aasif M. Bade as Chairman, Justin P. Christian, John K. Keach, Jr. and Jean L. Wojtowicz as members. Recent Insider Transactions • May 12
Independent Director recently bought €98k worth of stock On the 10th of May, Aasif Bade bought around 10k shares on-market at roughly €9.80 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €586k more in shares than they have sold in the last 12 months. Buying Opportunity • May 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 63%. The fair value is estimated to be €11.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to decline by 17% in a year. Earnings is forecast to decline by 49% in the next year. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €11.20, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Banks industry in Europe. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €15.30, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 7.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €20.98 per share. Recent Insider Transactions • Mar 21
Chairman & CEO recently bought €88k worth of stock On the 16th of March, David Becker bought around 5k shares on-market at roughly €17.63 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. David has been a buyer over the last 12 months, purchasing a net total of €1.4m worth in shares. Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: US$3.73 (vs US$4.85 in FY 2021) Full year 2022 results: EPS: US$3.73 (down from US$4.85 in FY 2021). Revenue: US$115.0m (down 3.7% from FY 2021). Net income: US$35.5m (down 26% from FY 2021). Profit margin: 31% (down from 40% in FY 2021). Net interest margin (NIM): 2.54% (up from 2.25% in FY 2021). Non-performing loans: 0.22% (down from 0.26% in FY 2021). Revenue is expected to decline by 6.7% p.a. on average during the next 2 years, while revenues in the Banks industry in Europe are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. Buying Opportunity • Mar 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be €21.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to decline by 12% in 2 years. Earnings is forecast to decline by 27% in the next 2 years. Aankondiging • Jan 28
First Internet Bancorp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022 First Internet Bancorp reported net charge-offs for the fourth quarter ended December 31, 2022. Net charge-offs of $0.2 million were recognized during the fourth quarter of 2022, resulting in net charge-offs to average loans of 0.03%, compared to net charge-offs to average loans of 0.02% for the third quarter of 2022 and net recoveries to average loans of 0.01% for the fourth quarter of 2021. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$3.73 (vs US$4.85 in FY 2021) Full year 2022 results: EPS: US$3.73 (down from US$4.85 in FY 2021). Revenue: US$115.0m (down 3.7% from FY 2021). Net income: US$35.5m (down 26% from FY 2021). Profit margin: 31% (down from 40% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 5.3% p.a. on average during the next 2 years, while revenues in the Banks industry in Europe are expected to grow by 5.2%. Aankondiging • Jan 05
First Internet Bancorp to Report Q4, 2022 Results on Jan 25, 2023 First Internet Bancorp announced that they will report Q4, 2022 results After-Market on Jan 25, 2023 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €20.80, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 45% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €31.09 per share. Aankondiging • Dec 04
Ana Dutra Will Resign from Board of Directors of First Internet Bancorp, Effective December 31, 2022 Ana Dutra will resign from Board of Directors of First Internet Bancorp, effective December 31, 2022 to spend more time on her existing personal and professional responsibilities. Ms. Dutra, a director of the Company since 2020, is the CEO of Mandala Global Advisors Inc. In addition, Ms. Dutra serves on the boards of four other publicly traded companies, multiple private companies and one not-for-profit organization. Recent Insider Transactions • Oct 26
Chairman & CEO recently bought €239k worth of stock On the 24th of October, David Becker bought around 10k shares on-market at roughly €23.88 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. David has been a buyer over the last 12 months, purchasing a net total of €2.5m worth in shares. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: US$0.89 (vs US$1.22 in 3Q 2021) Third quarter 2022 results: EPS: US$0.89 (down from US$1.22 in 3Q 2021). Revenue: US$27.8m (down 4.4% from 3Q 2021). Net income: US$8.44m (down 30% from 3Q 2021). Profit margin: 30% (down from 42% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Aankondiging • Oct 20
First Internet Bancorp Reports Write-Down of Software and Net Charge-Offs for the Third Quarter Ended September 30, 2022 First Internet Bancorp reported write-down of software and Net charge-offs for the third quarter ended September 30, 2022. Write-down of software was $125,000. Net charge-offs of $0.2 million were recognized during the third quarter of 2022, resulting in net charge-offs to average loans of 0.02%, compared to net charge-offs to average loans of 0.04% for the second quarter of 2022 and net charge-offs to average loans of 0.01% for the third quarter of 2021. Aankondiging • Oct 07
First Internet Bancorp Appoints David Bybee as Senior Credit Officer First Internet Bank announced that David Bybee has joined its Small Business Administration (SBA) lending team as Vice President, Senior Credit Officer. In this role, he will oversee credit guidelines, underwriting and the credit approval process for the bank’s small business lending effort. From his early days with the Federal Reserve Bank through positions with Touchmark National Bank, Atlantic Capital Bank, and SouthState Bank, David has served in a variety of leadership positions directing all aspects of financial risk management. He is a graduate of Southern Methodist University. Aankondiging • Oct 06
First Internet Bancorp to Report Q3, 2022 Results on Oct 19, 2022 First Internet Bancorp announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 19, 2022 Aankondiging • Sep 21
First Internet Bancorp to Pay Cash Dividend, Payable on October 17, 2022 The Board of Directors of First Internet Bancorp (the “Company”) has declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on October 17, 2022 to shareholders of record at the close of business on September 30, 2022. Aankondiging • Aug 16
First Internet Bank Launches Do More Business™ Checking, an Account Designed to Help Small Business Owners Accomplish More in Less Time First Internet Bank announced it has launched Do More Business™ Checking, an account designed to help small business owners accomplish more in less time. Among its key benefits are tools that provide greater control over both business and personal finances. Do More Business Checking enables business owners to earn interest, make unlimited transactions and access a dedicated customer success team. In addition, they can now link multiple financial accounts like their business and personal checking or savings, credit cards, loans and investments. This provides greater day-to-day monetary control, including insight into spending trends by category, simplified budgeting and seamless transfer of funds between accounts. The new checking account is the first release in First Internet Bank’s Do More Business platform, which is being developed to give small businesses advanced financial applications to simplify their day-to-day operations and spur future growth. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: US$0.99 (vs US$1.32 in 2Q 2021) Second quarter 2022 results: EPS: US$0.99 (down from US$1.32 in 2Q 2021). Revenue: US$29.3m (down 4.9% from 2Q 2021). Net income: US$9.55m (down 27% from 2Q 2021). Profit margin: 33% (down from 43% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is expected to shrink by 4.7% compared to a 14% growth forecast for the industry in Germany. Aankondiging • Jul 07
First Internet Bancorp to Report Q2, 2022 Results on Jul 20, 2022 First Internet Bancorp announced that they will report Q2, 2022 results After-Market on Jul 20, 2022 Aankondiging • Jun 22
First Internet Bancorp Declares a Quarterly Cash Dividend, Payable on July 15, 2022 The Board of Directors of First Internet Bancorp declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on July 15, 2022 to shareholders of record at the close of business on July 1, 2022. Reported Earnings • May 11
First quarter 2022 earnings released: EPS: US$1.15 (vs US$1.06 in 1Q 2021) First quarter 2022 results: EPS: US$1.15 (up from US$1.06 in 1Q 2021). Revenue: US$32.1m (up 16% from 1Q 2021). Net income: US$11.2m (up 7.3% from 1Q 2021). Profit margin: 35% (down from 38% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 5.1% compared to a 15% growth forecast for the industry in Germany. Recent Insider Transactions • May 06
Independent Director recently bought €438k worth of stock On the 4th of May, Aasif Bade bought around 13k shares on-market at roughly €35.08 per share. In the last 3 months, there was an even bigger purchase from another insider worth €815k. Insiders have collectively bought €1.6m more in shares than they have sold in the last 12 months. Aankondiging • Apr 26
First Internet Bancorp and First Internet Bank of Indiana Announces C. Charles Perfetti Intention to Step Down as Executive Vice President and Secretary On April 20, 2022, C. Charles Perfetti, Executive Vice President and Secretary of First Internet Bancorp and First Internet Bank of Indiana gave notice of his intention to step away from his positions with the Company and its subsidiaries, including the Bank, with a target effective date of June 10, 2022. Mr. Perfetti joined the Company and the Bank in 2007, when the Bank acquired Landmark Financial Corporation. Mr. Perfetti had served as President and CEO of Landmark Financial Corporation from 1989 to 2007. Aankondiging • Apr 08
First Internet Bancorp to Report Q1, 2022 Results on Apr 20, 2022 First Internet Bancorp announced that they will report Q1, 2022 results After-Market on Apr 20, 2022 Aankondiging • Mar 29
First Internet Bancorp, Annual General Meeting, May 16, 2022 First Internet Bancorp, Annual General Meeting, May 16, 2022, at 13:00 US Eastern Standard Time. Agenda: To elect eight directors to serve until the next annual meeting of shareholders; to approve, in an advisory (non-binding) vote, the compensation paid to named executive officers; to ratify the appointment of BKD, LLP as independent registered public accounting firm for 2022; to approve the First Internet Bancorp 2022 Equity Incentive Plan; and to transact such other business as may properly come before the meeting or any adjournments thereof. Reported Earnings • Mar 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$4.85 (up from US$2.99 in FY 2020). Revenue: US$119.4m (up 30% from FY 2020). Net income: US$48.1m (up 63% from FY 2020). Profit margin: 40% (up from 32% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.25% (up from 1.68% in FY 2020). Non-performing loans: 0.26% (down from 0.34% in FY 2020). Revenue exceeded analyst estimates by 3.9%. Over the next year, revenue is expected to shrink by 11% compared to a 8.9% growth forecast for the banks industry in Germany. Recent Insider Transactions • Feb 12
Independent Director recently sold €75k worth of stock On the 8th of February, Jerry Williams sold around 2k shares on-market at roughly €43.79 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €309k more than they sold in the last 12 months. Reported Earnings • Jan 20
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$4.84 (up from US$2.99 in FY 2020). Revenue: US$119.4m (up 30% from FY 2020). Net income: US$48.1m (up 63% from FY 2020). Profit margin: 40% (up from 32% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.9%. Over the next year, revenue is expected to shrink by 13% compared to a 11% growth forecast for the banks industry in Germany. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 16% share price gain to €50.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 107% over the past year. Recent Insider Transactions • Dec 03
Chairman & CEO recently bought €384k worth of stock On the 30th of November, David Becker bought around 10k shares on-market at roughly €38.37 per share. This was the largest purchase by an insider in the last 3 months. David has been a buyer over the last 12 months, purchasing a net total of €845k worth in shares. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 17% share price gain to €34.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Banks industry in Europe. Total returns to shareholders of 77% over the past year. Reported Earnings • Oct 21
Third quarter 2021 earnings released: EPS US$1.23 (vs US$0.86 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$29.0m (up 10% from 3Q 2020). Net income: US$12.1m (up 44% from 3Q 2020). Profit margin: 42% (up from 32% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Aankondiging • Aug 17
First Internet Bancorp announced that it has received $60 million in funding First Internet Bancorp entered into a subordinated note purchase agreement with an institutional accredited investor that is also a qualified institutional buyer for a private placement of 3.75% fixed-to-floating rate subordinated notes due 2031 for gross proceeds of $60,000,000 on August 16, 2021. The notes are issued at par and are scheduled to mature on September 1, 2031. The notes bear interest at a fixed rate of 3.75% per annum from and including August 16, 2021, to, but excluding, September 1, 2026 and will bear a floating interest rate from and including September 1, 2026 to, the maturity date or the date of earlier redemption. The floating interest rate will be reset quarterly and will initially be equal to the three-month term SOFR plus 311 basis points. The company may, at its option, redeem the notes in whole or in part beginning with the interest payment date of September 1, 2026, and on any interest payment date thereafter. The notes are general unsecured, subordinated obligations of the company. The company has issued notes pursuant to exemption provided under Regulation D. Reported Earnings • Jul 22
Second quarter 2021 earnings released: EPS US$1.33 (vs US$0.40 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$30.8m (up 81% from 2Q 2020). Net income: US$13.1m (up 233% from 2Q 2020). Profit margin: 43% (up from 23% in 2Q 2020). The increase in margin was driven by higher revenue. Executive Departure • May 24
Independent Director has left the company On the 17th of May, Michael Smith's tenure as Independent Director ended after less than a year in the role. As of March 2021, Michael personally held 3.27k shares (€98k worth at the time). Michael is the only executive to leave the company over the last 12 months. Reported Earnings • May 12
First quarter 2021 earnings released: EPS US$1.06 (vs US$0.62 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$27.8m (up 39% from 1Q 2020). Net income: US$10.5m (up 74% from 1Q 2020). Profit margin: 38% (up from 30% in 1Q 2020). The increase in margin was driven by higher revenue.