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First Internet Bancorp (NASDAQ:INBK)

27.24 USD

-0.170 0.620%
Last Updated at: 2026-06-26T20:04:00Z

First Internet Bancorp

First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial, small business, consumer, and municipal banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, commercial deposit, savings, money market, and Banking-as-a-Service brokered deposit accounts, as well as certificates of deposit. It also offers commercial and industrial, owner-occupied and investor commercial real estate, construction, residential mortgage, home equity, line of credit and home improvement, small installment, term, and other consumer loans, as well as single tenant lease financing, and public and healthcare finance; franchise finance; and small business lending. In addition, the company is involved in the purchase, manage, service, and safekeeping of municipal securities; and provision of public and municipal lending and leasing products to government entities. Further, the company offers corporate credit card and treasury management services. First Internet Bancorp was founded in 1998 and is headquartered in Fishers, Indiana.

8701 East 116th Street, Fishers, IN, United States, 46038

317 532 7900

https://www.firstinternetbancorp.com/overview/defa

Employees: 287

Key Executives

Sr. No. Name Title Year Born
1. Mr. David B. Becker Chairman & CEO 1953
2. Ms. Nicole S. Lorch Pres, COO & Corp. Sec. 1974
3. Mr. Kenneth J. Lovik Exec. VP & CFO 1970
4. Ms. Paula Deemer Exec. Assistant & Director of Corp. Admin. NA
5. Mr. David Bybee VP & Sr. Credit Officer NA
6. Mr. Kevin B. Quinn Sr. VP of Retail Lending - First Internet Bank NA
7. Mr. Timothy C. Dusing Sr. VP of Public Fin. - First Internet Bank NA
8. Ms. Nicole S. Lorch President, COO & Corporate Secretary 1974
9. Mr. Kenneth J. Lovik Executive VP & CFO 1970
10. Ms. Paula Deemer Executive Assistant & Director of Corporate Administration NA

Peers

Sector: Financial Services

Industry: Banks - Regional

Company Change (USD) Price (USD) Trailing PE(x) Forward PE(x) Price Sales TTM(x) Price to Book Value(x) Enterprise Value to Revenue(x) Enterprise Value to EBITDA(x)
HDB

HDFC Bank Limited ADR

 +0.370 1.458% 25.42 20.810 20.964 0.108 4.772 0.000 0.000
CIHKY

China Merchants Bank Co Ltd

 +0.190 0.667% 28.425 7.780 7.645 0.562 0.901 3.617 0.000
DBSDF

DBS Group Holdings Ltd

 0.000 0.000% 52.22 15.290 14.409 5.843 2.364 10.400 0.000
CIHHF

China Merchants Bank Co Ltd Class H

 0.000 0.000% 6.1 6.100 5.672 0.439 0.765 3.426 0.000

Income Statement

(Currency in USD)
Breakdown 31-12-2022 31-12-2021 31-12-2020 31-12-2019 31-12-2018
Income Before Tax 40.1M 56.572M 33.898M 27.156M 23.952M
Minority Interest - - - - -
Net Income 35.541M 48.114M 29.453M 25.239M 21.9M
Selling General Administrative 42.705M 41.085M 37.569M 30.255M 26.363M
Gross Profit 113.915M 114.765M 98.841M 78.614M 70.085M
Reconciled Depreciation 8.729M 8.775M 7.831M 7.655M 5.667M
Ebit 91.515M 56.572M 33.898M 27.156M 77.152M
Ebitda 100.244M 65.347M 41.729M 34.811M 82.819M
Depreciation And Amortization 8.729M 8.775M 7.831M 7.655M 5.667M
Operating Income 91.515M 56.572M 33.898M 27.156M 77.152M
Other Operating Expenses 8.38M -58.193M -64.943M -51.458M 7.067M
Interest Expense 59.815M 47.327M 72.318M 84.447M 53.2M
Tax Provision 4.559M 8.458M 4.445M 1.917M 2.052M
Interest Income 156.908M 133.883M 136.859M 147.414M 115.467M
Net Interest Income 97.093M 86.556M 64.541M 62.967M 62.267M
Income Tax Expense 4.559M 8.458M 4.445M 1.917M 2.052M
Total Revenue 113.915M 114.765M 98.841M 78.614M 70.085M
Total Operating Expenses 8.38M -58.193M -64.943M -51.458M 7.067M
Cost Of Revenue - - - - 57.092M
Total Other Income Expense Net -51.415M -47.327M -72.318M -84.447M -53.2M
Net Income From Continuing Ops 35.541M 48.114M 29.453M 25.239M 21.9M
Net Income Applicable To Common Shares 35.541M 48.114M 29.453M 25.239M 21.9M

Balance Sheet

(Currency in USD)
Breakdown 31-12-2023 31-12-2022 31-12-2021 31-12-2020 31-12-2019
Total Assets 5167.572M 4543.104M 4210.994M 4246.156M 4100.083M
Intangible Assets 10.567M - - - 2.481M
Other Current Assets 433.019M -1223.26M 1509.108M 1688.702M 1528.271M
Total Liab 4804.777M 4178.13M 3830.656M 3915.212M 3795.17M
Total Stockholder Equity 362.795M 364.974M 380.338M 330.944M 304.913M
Other Current Liab 3111.03M -2.913M -2.018M -1.439M -3.767M
Common Stock 184.7M 192.935M 218.946M 221.408M 219.423M
Capital Stock 184.7M 192.935M 218.946M 221.408M 219.423M
Retained Earnings 207.47M 205.675M 172.431M 126.732M 99.681M
Good Will 4.687M 4.687M 4.687M 4.687M 4.687M
Other Assets - 4036.827M 1509.108M 1688.702M 1528.271M
Cash 405.898M 256.552M 442.96M 419.806M 327.361M
Cash And Equivalents - - - - -
Total Current Liabilities 3366.033M 2.913M 2.018M 1.439M 3.767M
Current Deferred Revenue -3.848M - - - -
Net Debt 313.874M 462.908M 176.193M 174.713M 257.077M
Short Term Debt 255.003M - 104.231M 79.603M 69.528M
Short Long Term Debt - - - - -
Short Long Term Debt Total 719.772M 719.46M 619.153M 594.519M 584.438M
Other Stockholder Equity - -33.636M -11.039M -17.196M -14.191M
Property Plant Equipment - 72.711M 59.842M 37.59M 14.63M
Total Current Assets 433.019M 428.879M 1974.748M 1949.326M 1949.765M
Long Term Investments 702.008M 579.552M 662.609M 565.851M 3602.599M
Short Term Investments 474.855M 390.384M 603.044M 497.628M 540.852M
Net Receivables 955.233M 1005.203M 928.744M 1031.892M 1081.552M
Long Term Debt 719.772M 719.46M 619.153M 594.519M 69.528M
Inventory -18.477M 0.042M 1.217M 0.035M 2.14M
Accounts Payable 3.848M 2.913M 2.018M 1.439M 3.767M
Accumulated Other Comprehensive Income -29.375M -33.636M -11.039M -17.196M -14.191M
Non Currrent Assets Other 96.731M -579.552M -727.138M -608.128M -622.047M
Non Current Assets Total 4734.553M 77.398M 727.138M 608.128M 622.047M
Capital Lease Obligations - - - - -
Long Term Debt Total - 104.532M 104.231M 79.603M 69.528M

Cash Flow

(Currency in USD)
Breakdown 31-12-2022 31-12-2021 31-12-2020 31-12-2019 31-12-2018
Investments -366.433M -254.786M -44.809M -320.79M -626.66M
Total Cashflows From Investing Activities -601.033M 43.874M -44.809M -313.273M -638.713M
Total Cash From Financing Activities 331.902M -75.56M 124.186M 495.499M 750.088M
Net Income 35.541M 48.114M 29.453M 25.239M 21.9M
Change In Cash -186.408M 23.154M 92.445M 138.649M 140.731M
Begin Period Cash Flow 442.96M 419.806M 327.361M 188.712M 47.981M
End Period Cash Flow 256.552M 442.96M 419.806M 327.361M 188.712M
Total Cash From Operating Activities 82.723M 54.84M 13.068M -43.577M 29.356M
Depreciation 8.729M 8.775M 7.831M 7.655M 5.667M
Other Cashflows From Investing Activities -217.083M 328.552M 46.787M 11.622M -9.834M
Dividends Paid -2.317M -2.415M -2.349M -2.418M 2.23M
Change To Inventory - - - - -
Sale Purchase Of Stock -27.78M -4.436M 0M -9.784M -0.216M
Other Cashflows From Financing Activities 876.999M -0.441M 566.535M -0.329M 961.2M
Capital Expenditures 17.517M 29.892M 25.559M 4.105M 2.219M
Change In Working Capital 6.904M 6.946M 0.236M -40.771M -12.901M
Other Non Cash Items 24.882M -13.822M -22.444M -32.978M 12.116M
Free Cash Flow 65.206M 24.948M -12.491M -47.682M 27.137M

Funds

Sr. No. Name Purchased On Shares
1. Vanguard Total Stock Mkt Idx Inv 2 years ago 248309
2. Heartland Value Investor 2 years ago 200000
3. Foundry Partners Micro Cap Value 2 years ago 147075
4. Ancora/Thelen Small Mid Cap Core 2 years ago 135480
5. Franklin Mutual Small-Mid Cap Val A 2 years ago 129182
6. Vanguard Institutional Extnd Mkt Idx Tr 2 years ago 117894
7. Invesco Dorsey Wright SmallCap Momt ETF 2 years ago 109644
8. Hotchkis & Wiley Sm Cp Divers Val I 2 years ago 74289
9. Avantis US Small Cap Value ETF 2 years ago 68638
10. BlackRock Advantage Small Cap Core Instl 2 years ago 62332
11. DFA US Small Cap I 2 years ago 59633
12. DFA US Small Cap Value I 2 years ago 57817
13. Russell Inv Tax-Managed US Mid&Sm Cap S 2 years ago 56351
14. Ancora/Thelen Small-Mid Cap I 2 years ago 55840
15. DFA US Targeted Value I 2 years ago 55083
16. DFA US Micro Cap I 2 years ago 48133
17. Fidelity Extended Market Index 2 years ago 45368
18. Principal SmallCap Value II Instl 2 years ago 44420
19. Dimensional US Targeted Value ETF 2 years ago 44001
20. SEI Tax-Managed Small/Mid Cap F (SIMT) 2 years ago 40160

Institutions

Sr. No. Name Purchased On Shares
1. Dimensional Fund Advisors, Inc. 2 years ago 447436
2. Vanguard Group Inc 2 years ago 378266
3. Banc Funds Co LLC 2 years ago 364296
4. BlackRock Inc 2 years ago 347078
5. Patriot Financial Partners GP, LLC 2 years ago 240092
6. Fiduciary Trust Co 2 years ago 234690
7. Hotchkis & Wiley Capital Management LLC 2 years ago 222215
8. Stieven Capital Advisors, L.p. 2 years ago 214220
9. Ancora Advisors LLC 2 years ago 202522
10. Heartland Advisors Inc 2 years ago 200000
11. Millennium Management LLC 2 years ago 164285
12. Franklin Resources Inc 2 years ago 134124
13. Brandywine Global Investment Mgmt LLC 2 years ago 128818
14. Jacobs Levy Equity Management, Inc. 2 years ago 106503
15. Geode Capital Management, LLC 2 years ago 106222
16. State Of Wisconsin Investment Board 2 years ago 99292
17. Acadian Asset Management LLC 2 years ago 97600
18. Foundry Partners, LLC 2 years ago 97245
19. D. E. Shaw & Co LP 2 years ago 88898
20. American Century Companies Inc 2 years ago 83382
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