First Internet Bancorp - INBK STOCK NEWS

First Internet Bank has launched a $16 million home loan purchase agreement with Greater Indy Habitat for Humanity to facilitate affordable housing in Indiana. This partnership aims to complete 100 homes across Marion, Hancock, Hendricks, and Hamilton counties from 2023 to 2025, addressing the housing crisis affecting local residents. With assets of $4.3 billion as of September 30, 2022, First Internet Bank continues to play a crucial role in promoting homeownership, demonstrating its commitment to community development and financial stability.

First Internet Bancorp (Nasdaq: INBK) reported a quarterly net income of $8.4 million for Q3 2022, down from $9.5 million in Q2 2022 and $12.1 million in Q3 2021. Diluted earnings per share decreased to $0.89 from $0.99 and $1.21 in the previous quarters. Loan growth was robust, with a 5.6% increase from Q2 2022 and a 10.9% increase year-over-year, totaling $173.8 million. The net interest margin was 2.40%, and the company repurchased 120,000 shares at an average price of $36.56, raising the repurchase program cap to $35 million.

Treasury Prime has partnered with First Internet Bank to enhance its Banking-as-a-Service (BaaS) offerings. This collaboration aims to provide innovative banking solutions to fintech and small business clients, strengthening Treasury Prime's network to 15 financial institutions. With a focus on expanding services, both companies will leverage Treasury Prime's API technology and First Internet Bank's compliance infrastructure. The partnership follows similar agreements with Bangor Savings Bank and FB Financial Corp, highlighting increasing market demand for integrated banking solutions.

First Internet Bank has appointed David Bybee as Vice President, Senior Credit Officer for its Small Business Administration (SBA) lending team. Bybee will oversee credit guidelines and underwriting processes aimed at enhancing small business lending. President Nicole Lorch praised Bybee's leadership and communication skills, highlighting his experience in government-backed lending programs. With $4.1 billion in assets as of June 30, 2022, First Internet Bank offers a range of financial services nationwide.

First Internet Bancorp (INBK) plans to release its third quarter 2022 financial results after market close on October 19, 2022. A conference call discussing the results will occur on October 20, 2022 at 12:00 p.m. ET. The bank, which has assets of $4.1 billion as of June 30, 2022, has pioneered branchless banking since 1999, offering various financial services nationally and regionally. Interested parties can access the call via telephone or webcast.

First Internet Bank has appointed Will Tinsley as Vice President, Senior Business Development Officer in its Small Business Administration (SBA) Lending team, enhancing its commitment to small businesses. Tinsley brings extensive experience in acquisition lending, previously working for Gulf Coast Small Business Lending, Bank United, and Wells Fargo. The Bank, with assets of $4.1 billion as of June 30, 2022, aims to expedite loan approvals for business owners through its SBA Preferred Lender status.

First Internet Bancorp (INBK) has declared a quarterly cash dividend of $0.06 per common share, scheduled for payment on October 17, 2022, to shareholders of record as of September 30, 2022. The Board of Directors will determine future dividends based on various factors, including the company's financial health and operational results.

As of June 30, 2022, First Internet Bancorp reported assets totaling $4.1 billion and operates as a leader in branchless banking solutions.

First Internet Bank announced that Kathryn "Katy" Clayton has been appointed as President of the Board of Directors for the Indiana Chapter of Women in Public Finance (WPF). Clayton, who joined the bank in 2018, is an active WPF Board member since 2020. She expressed excitement about her new leadership role, emphasizing the networking opportunities available through the organization. The bank's Public Finance Team, including Clayton, will attend the national WPF Conference in Scottsdale, Arizona, in September. As of June 30, 2022, First Internet Bank holds assets of $4.1 billion.

First Internet Bank has launched Do More Business™ Checking, designed to assist small business owners in managing their finances more effectively. This checking account offers features such as earning interest, unlimited transactions, and a dedicated support team. Business owners can link their personal and business accounts for better financial control and insights into spending patterns.

The introduction of this account is the first step in the Do More Business platform aimed at providing advanced financial solutions to small businesses, enhancing overall banking experience.