First Internet Bancorp Management

Management criteria checks 4/4

First Internet Bancorp's CEO is David Becker, appointed in Jan 2007, has a tenure of 17.67 years. total yearly compensation is $1.73M, comprised of 46.3% salary and 53.7% bonuses, including company stock and options. directly owns 4.6% of the company’s shares, worth $13.17M. The average tenure of the management team and the board of directors is 10.1 years and 3 years respectively.

Key information

David Becker

Chief executive officer

US$1.7m

Total compensation

CEO salary percentage	46.3%
CEO tenure	17.7yrs
CEO ownership	4.6%
Management average tenure	10.1yrs
Board average tenure	3yrs

Recent management 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

CEO Compensation Analysis

How has David Becker's remuneration changed compared to First Internet Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	US$19m
Mar 31 2024	n/a	n/a	US$17m
Dec 31 2023	US$2m	US$800k	US$8m
Sep 30 2023	n/a	n/a	US$11m
Jun 30 2023	n/a	n/a	US$16m
Mar 31 2023	n/a	n/a	US$21m
Dec 31 2022	US$2m	US$800k	US$36m
Sep 30 2022	n/a	n/a	US$42m
Jun 30 2022	n/a	n/a	US$45m
Mar 31 2022	n/a	n/a	US$49m
Dec 31 2021	US$2m	US$800k	US$48m
Sep 30 2021	n/a	n/a	US$47m
Jun 30 2021	n/a	n/a	US$43m
Mar 31 2021	n/a	n/a	US$34m
Dec 31 2020	US$2m	US$800k	US$29m
Sep 30 2020	n/a	n/a	US$25m
Jun 30 2020	n/a	n/a	US$23m
Mar 31 2020	n/a	n/a	US$26m
Dec 31 2019	US$2m	US$700k	US$25m
Sep 30 2019	n/a	n/a	US$22m
Jun 30 2019	n/a	n/a	US$22m
Mar 31 2019	n/a	n/a	US$22m
Dec 31 2018	US$2m	US$700k	US$22m
Sep 30 2018	n/a	n/a	US$22m
Jun 30 2018	n/a	n/a	US$20m
Mar 31 2018	n/a	n/a	US$18m
Dec 31 2017	US$1m	US$619k	US$15m

Compensation vs Market: David's total compensation ($USD1.73M) is about average for companies of similar size in the US market ($USD1.49M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.

CEO

David Becker (71 yo)

17.7yrs

Tenure

US$1,727,322

Compensation

Mr. David B. Becker is the Chairman of First Internet Bancorp since 2006 and Chief Executive Officer since 2007 also its Director since 1999. Mr. Becker served as President of First Internet Bancorp since...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Becker	Chairman & CEO	17.7yrs	US$1.73m	4.6% $ 13.2m
Nicole Lorch	President	7.7yrs	US$1.08m	0.58% $ 1.7m
Kenneth Lovik	Executive VP & CFO	10.1yrs	US$713.26k	0.45% $ 1.3m
Paula Deemer	Executive Assistant & Director of Corporate Administration	10.7yrs	no data	no data
David Bybee	VP & Senior Credit Officer	1.9yrs	no data	no data

10.1yrs

Average Tenure

54yo

Average Age

Experienced Management: INBK's management team is seasoned and experienced (10.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Becker	Chairman & CEO	25.7yrs	US$1.73m	4.6% $ 13.2m
Jean Wojtowicz	Independent Director	18.7yrs	US$121.82k	0.43% $ 1.2m
John Keach	Independent Vice Chairman of the Board & Lead Independent Director	11.8yrs	US$107.45k	0.38% $ 1.1m
Joseph Fenech	Independent Director	1.3yrs	US$70.75k	0.078% $ 222.2k
Aasif Bade	Independent Director	3.3yrs	US$107.45k	0.49% $ 1.4m
Ann Dee	Independent Director	2.8yrs	US$104.70k	0.16% $ 448.5k
Justin Christian	Independent Director	2.8yrs	US$98.58k	0.099% $ 283.3k
Michele Raines	Independent Director	less than a year	no data	0.020% $ 56.8k

3.0yrs

Average Tenure

59yo

Average Age

Experienced Board: INBK's board of directors are considered experienced (3 years average tenure).

First Internet Bancorp Management

Management criteria checks 4/4

Key information

Recent management updates

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

First Internet Bancorp Announces Board Committee Changes

Independent Director recently bought US$108k worth of stock

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

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

First Internet Bancorp Appoints David Bybee as Senior Credit Officer

Recent updates

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