First Internet Bancorp - INBK STOCK NEWS

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 $4.3 billion.

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 January 19, 2022, after market close. A conference call to discuss the results is scheduled for January 20, 2022 at 12:00 p.m. Eastern Time. Investors can participate via telephone or access a webcast on the company's website. The bank, with $4.3 billion in assets as of September 30, 2021, offers a range of banking services nationally and regionally.

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 $0.06 per common share. This dividend will be payable on January 18, 2022 to shareholders of record as of December 31, 2021. Future dividends will depend on the Company's operational results, financial condition, and other relevant factors as assessed by the Board. First Internet Bancorp, a bank holding company with assets of $4.3 billion as of September 30, 2021, specializes in branchless banking services.

First Internet Bancorp (NASDAQ: INBK) appointed Justin P. Christian and Ann Colussi Dee to its Board of Directors. Christian, CEO of BCforward, has a proven track record, guiding the firm to projected revenues of $600MM for FY2021. Dee, an Executive VP at Duke Realty, brings over 26 years of legal and executive experience. These appointments are expected to enhance the board's diversity and strategic thinking, aligning with the company's innovative approach to banking. First Internet Bancorp has assets of $4.3 billion as of September 30, 2021.

First Internet Bank has been recognized as one of the Best Banks to Work For for the ninth consecutive year by American Banker and Best Companies Group, highlighting its strong employee engagement and positive corporate culture. CEO David Becker attributed this achievement to a dedicated leadership team and a supportive work environment that fosters a diverse workforce. The evaluation involved a review of workplace policies and employee surveys. As of September 30, 2021, the bank holds assets of $4.3 billion.

First Internet Bank has appointed Clayton Baker as Senior Business Development Officer, expanding its Small Business Administration (SBA) Lending team. Baker brings over 17 years of banking experience, previously serving at Atlantic Capital Bank among others. His role aims to enhance SBA loan accessibility for small business clients. As of September 30, 2021, the bank reported assets of $4.3 billion, offering a range of financial services including consumer loans and commercial real estate loans.