First Internet Bancorp Balance Sheet Health

Financial Health criteria checks 6/6

First Internet Bancorp has total assets of $5.8B and total equity of $385.1M. Total deposits are $4.8B, and total loans are $4.0B. It earns a Net Interest Margin of 1.7%. It has sufficient allowance for bad loans, which are currently at 0.6% of total loans. Cash and short-term investments are $715.3M.

Key information

15.1x

Asset to equity ratio

1.7%

Net interest margin

Total deposits	US$4.80b
Loan to deposit ratio	Appropriate
Bad loans	0.6%
Allowance for bad loans	Sufficient
Current ratio	Low
Cash & equivalents	US$715.26m

Recent financial health updates

No updates

Recent updates

Analysts Are More Bearish On First Internet Bancorp (NASDAQ:INBK) Than They Used To Be

Oct 26

Treasury Prime partners with First Internet Bank

Oct 18

Grabbing A 6.7% Yield With First Internet Bancorp's Debt Securities

Sep 20

First Internet Bancorp Non-GAAP EPS of $1.06 misses by $0.07, revenue of $29.99M beats by $3.44M

Jul 21

First Internet Bancorp: Strong Topline Growth To Buoy Earnings

Jul 08

Is Now The Time To Put First Internet Bancorp (NASDAQ:INBK) On Your Watchlist?

May 03

First Internet Bancorp: Management's Plans Likely To Boost The Top Line

Apr 10

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: INBK's Assets to Equity ratio (15.1x) is moderate.

Allowance for Bad Loans: INBK has a sufficient allowance for bad loans (203%).

Low Risk Liabilities: 88% of INBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: INBK has an appropriate level of Loans to Assets ratio (69%).

Low Risk Deposits: INBK's Loans to Deposits ratio (83%) is appropriate.

Level of Bad Loans: INBK has an appropriate level of bad loans (0.6%).

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/22 01:52
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First Internet Bancorp is covered by 7 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
George Sutton	Craig-Hallum Capital Group LLC
Brett Rabatin	Hovde Group, LLC
John Rodis	Janney Montgomery Scott LLC

First Internet Bancorp Balance Sheet Health

Financial Health criteria checks 6/6

Key information

Recent financial health updates

Recent updates

Third quarter dividend of US$0.06 announced

First Internet Bancorp to Pay Cash Dividend, Payable on January 15, 2025

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

First Internet Bancorp to Report Q3, 2024 Results on Oct 23, 2024

Despite Rapid Growth, First Internet Bancorp Deserves A Pass

Second quarter dividend of US$0.06 announced

First Internet Bancorp Declares Quarterly Cash Dividend, Payable on October 15, 2024

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Investor sentiment improves as stock rises 15%

First Internet Bancorp to Report Q2, 2024 Results on Jul 24, 2024

First Internet Bancorp: Bottoming Net Interest Margin Bodes Well For The Future

First Internet Bancorp's (NASDAQ:INBK) Dividend Will Be $0.06

First quarter dividend of US$0.06 announced

First Internet Bancorp Declares a Quarterly Cash Dividend, Payable on July 15, 2024

First Internet Bancorp: The Recovery Begins

First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

First Internet Bancorp to Report Q1, 2024 Results on Apr 24, 2024

First Internet Bancorp, Annual General Meeting, May 20, 2024

Fourth quarter dividend of US$0.06 announced

First Internet Bancorp Declares Quarterly Cash Dividend, Payable on April 15, 2024

Full year 2023 earnings: EPS and revenues exceed analyst expectations

First Internet Bancorp: There Is Light At The End Of The Tunnel

Consensus EPS estimates increase by 26%

Third quarter 2023 earnings released: EPS: US$0.39 (vs US$0.89 in 3Q 2022)

Investor sentiment improves as stock rises 18%

First Internet Bancorp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2023

First Internet Bancorp to Pay Quarterly Cash Dividend, Payable on January 16, 2024

Price target increased by 20% to US$25.60

Investor sentiment improves as stock rises 15%

New minor risk - Earnings quality

Price target decreased by 7.6% to US$21.90

Price target decreased by 7.2% to US$23.10

Third quarter 2023 earnings: EPS exceeds analyst expectations

Investor sentiment deteriorates as stock falls 15%

Now 25% undervalued after recent price drop

First Internet Bancorp to Report Q3, 2023 Results on Oct 25, 2023

First Internet Bancorp Declares Quarterly Dividend, Payable on October 16, 2023

Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

First Internet Bancorp Announces Net Charge-Offs for the Second Quarter Ended June 30, 2023

Investor sentiment improves as stock rises 16%

First Internet Bancorp to Report Q2, 2023 Results on Jul 26, 2023

Price target increased by 10% to US$19.00

First Internet Bancorp (NASDAQ:INBK) Is Paying Out A Dividend Of $0.06

First Internet Bancorp(NasdaqGS:INBK) dropped from Russell 2000 Value-Defensive Index

First Internet Bancorp Declares Quarterly Cash Dividend, Payable on July 17, 2023

Investor sentiment improves as stock rises 18%

First Internet Bancorp Announces Board Committee Changes

Investor sentiment improves as stock rises 22%

Independent Director recently bought US$108k worth of stock

Investor sentiment deteriorates as stock falls 20%

Price target decreased by 11% to US$24.70

Price target decreased by 7.3% to US$27.80

Investor sentiment deteriorates as stock falls 17%

First Internet Bancorp (NASDAQ:INBK) Has Affirmed Its Dividend Of $0.06

Chairman & CEO recently bought US$94k worth of stock

Full year 2022 earnings: EPS and revenues miss analyst expectations

Investor sentiment deteriorates as stock falls 28%

First Internet Bancorp Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings: EPS and revenues miss analyst expectations

First Internet Bancorp to Report Q4, 2022 Results on Jan 25, 2023

First Internet Bancorp (NASDAQ:INBK) Is Paying Out A Dividend Of $0.06

First Internet Bancorp (NasdaqGS:INBK) announces an Equity Buyback for $25 million worth of its shares.

Investor sentiment deteriorated over the past week

Ana Dutra Will Resign from Board of Directors of First Internet Bancorp, Effective December 31, 2022

Price target decreased to US$29.60

Consensus EPS estimates fall by 16%

Analysts Are More Bearish On First Internet Bancorp (NASDAQ:INBK) Than They Used To Be

Price target decreased to US$34.00

Third quarter 2022 earnings: Revenues miss analyst expectations

First Internet Bancorp Reports Write-Down of Software and Net Charge-Offs for the Third Quarter Ended September 30, 2022

Treasury Prime partners with First Internet Bank

Investor sentiment deteriorated over the past week

First Internet Bancorp Appoints David Bybee as Senior Credit Officer

First Internet Bancorp to Report Q3, 2022 Results on Oct 19, 2022

First Internet Bancorp to Pay Cash Dividend, Payable on October 17, 2022