Welcome to our dedicated page for First Internet Bancorp news (Ticker: INBK), a resource for investors and traders seeking the latest updates and insights on First Internet Bancorp stock.
First Internet Bancorp (symbol: INBK) operates as the holding company for First Internet Bank of Indiana, delivering a blend of commercial and retail banking products across the United States. Established to cater to modern banking needs, the company offers a wide array of services including savings and money market accounts, non-interest and interest-bearing demand deposits, brokered deposit accounts, and certificates of deposit.
First Internet Bancorp specializes in providing a diverse range of loan products designed to meet individual and business needs. This encompasses commercial and industrial loans, commercial real estate loans (both owner-occupied and investor-owned), construction loans, and residential mortgage loans. Additionally, the bank offers home equity loans, small installment loans, home improvement loans, and various other consumer loans. For businesses, the bank provides single tenant lease financing and has a strong presence in public and healthcare finance.
First Internet Bancorp's commitment extends to offering municipal securities and municipal lending and leasing products to government entities, underlining its role as a versatile financial institution. The bank also provides a suite of corporate services including corporate credit cards and treasury management services.
Known for its innovative approach, First Internet Bancorp operates entirely online, without any physical branches. This digital-first strategy enables it to efficiently serve a nationwide customer base while minimizing overhead costs. The company's operations are structured into a single segment known as the Commercial Banking segment, which consolidates its diverse offerings and streamlines its service delivery.
With a keen focus on customer satisfaction and financial stability, First Internet Bancorp continues to evolve and expand its services, ensuring it meets the ever-changing demands of the financial landscape.
First Internet Bank enhances its SBA Lending team with the appointment of Genevieve Lua as Vice President, Business Development Officer. Lua brings extensive experience from her previous roles at Bank of America and JPMorgan Chase. The bank aims to improve access to capital for small businesses, aligning with Lua's commitment to flexible financial solutions. As of December 31, 2021, the bank reported assets of $4.2 billion.
First Internet Bancorp (Nasdaq: INBK) will release its first quarter 2022 financial results on April 20, 2022, after market close. A conference call and webcast to discuss the results is scheduled for April 21, 2022, at 12:00 p.m. Eastern Time. Investors can access the call via telephone or online at the company's website, where presentation slides will also be available. With assets totaling $4.2 billion as of December 31, 2021, First Internet Bancorp continues to serve consumers and small businesses with various banking services.
First Internet Bank has announced the removal of overdraft fees on personal and small business deposit accounts, aiming to enhance the banking experience for its customers. President Nicole Lorch emphasized the importance of this decision in promoting financial wellness and alleviating the stress associated with inadvertent overdrafts. This initiative aligns with the bank's focus on customer-centric solutions. As of December 31, 2021, the bank reported assets of $4.2 billion and offers a range of financial services including loans and treasury management.
First Internet Bancorp (NASDAQ: INBK) has announced a quarterly cash dividend of $0.06 per common share, scheduled for payment on April 18, 2022, to shareholders of record by March 31, 2022. The future dividends will depend on the Board of Directors' discretion, influenced by the company's operational results, financial condition, capital requirements, and other relevant factors. As of December 31, 2021, First Internet Bancorp had assets totaling $4.2 billion.
First Internet Bancorp (Nasdaq: INBK) reported record annual net income of $48.1 million and diluted earnings per share of $4.82 for 2021. In Q4, net income was $12.5 million, or $1.25 per diluted share, marking a 3.3% increase from Q3 2021. Total quarterly revenue reached $31.2 million, reflecting an 8.6% rise from Q3 but a slight decline from Q4 2020. The company repurchased 100,000 shares at an average price of $44.36 during the quarter. Additionally, net interest margin improved to 2.30%.
First Internet Bank has entered a partnership with Synctera to enhance its Banking as a Service offerings. This collaboration aims to support fintech innovation while expanding the bank's capabilities. CEO David Becker highlighted that the scalable tech stack provided by Synctera will allow First Internet Bank to strengthen its services for small business owners and entrepreneurs. As of September 30, 2021, the bank reported assets totaling
CarParts.com (NASDAQ: PRTS) has appointed Ana Dutra to its Board of Directors as of January 10, 2022. Dutra has a rich background, having served as CEO of Korn/Ferry Consulting and currently heading Mandala Global Advisors. She brings extensive experience in addressing complex business issues and focuses on ESG and human capital. CEO Lev Peker expressed excitement about her appointment, emphasizing her role in driving continued growth for the company in 2022. CarParts.com, known for over 50 million parts delivered, aims to enhance the online shopping experience for auto parts.
First Internet Bancorp (Nasdaq: INBK) will release its fourth quarter 2021 financial results on
First Internet Bancorp (NASDAQ: INBK) has announced an extension of its exchange offer for up to $60 million of 3.75% Fixed-to-Floating Rate Subordinated Notes due 2031 until December 30, 2021, at 11:59 p.m. New York City time. As of December 22, 2021, approximately $53.3 million, or 88.83%, of the original notes had been tendered. The exchange notes are now registered under the Securities Act of 1933, allowing for unrestricted transferability. This extension aims to facilitate more participation from existing noteholders.
The Board of Directors of First Internet Bancorp (NASDAQ: INBK) has declared a quarterly cash dividend of
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