First Internet Bancorp INBK

Financials SIC 6022 - State Commercial Banks Nasdaq

First Internet Bancorp is a bank holding company headquartered in Fishers, Indiana that conducts its primary business activities through its wholly-owned subsidiary, First Internet Bank of Indiana, an Indiana chartered bank. The Bank was the first state-chartered, Federal Deposit Insurance Corporation ("FDIC") insured Internet bank and commenced banking operations in 1999. First Internet Bancorp was incorporated under the laws of the State of Indiana on September 15, 2005. On March 21, 2006, we consummated a plan of exchange by which we acquired all of the outstanding shares of the Bank.

The Bank has three wholly-owned subsidiaries: First Internet Public Finance Corp., an Indiana corporation that provides a range of public and municipal finance lending and leasing products to governmental entities throughout the United States and acquires securities issued by state and local governments and other municipalities; JKH Realty Services, LLC, a Delaware limited liability company that manages other real estate owned properties as needed; and SPF15, Inc., an Indiana corporation that owns real estate used primarily for the Bank's principal office.

Last close 29.75 2026-09-04
Market cap $259.8M 2026-06-30 share count
52-week range 17.05 - 31.09

Valuation FY2025 figures against the last close

P/S0.8x
P/E
P/FCF117.0x
EV/EBITDA
Dividend yield0.8%
Diluted EPS-4.03

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $320.2M$291.9M$239.4M$156.9M$133.9M$136.9M$147.4M$115.5M$7.8M$58.9M
Interest expense $113.8M$87.4M$74.9M$97.1M$47.3M$72.3M$84.4M$53.2M$30.7M$19.2M
Pre-tax income -$50.9M$27.5M$4.9M$40.1M$56.6M$33.9M$27.2M$24.0M$22.9M$18.0M
Income tax $15.7M$2.3M$3.5M$4.6M$8.5M$4.4M$1.9M$2.1M$7.7M$5.9M
Net income -$35.2M$25.3M$8.4M$35.5M$48.1M$29.5M$25.2M$21.9M$15.2M$12.1M
EPS, basic -4.032.910.953.734.852.992.512.312.142.32
EPS, diluted -4.032.880.953.704.822.992.512.302.132.30
Shares, diluted (wtd. avg.) $8.7M$8.8M$8.9M$9.6M$10.0M$9.8M$10.0M$9.5M$7.1M$5.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $456.8M$466.4M$405.9M$256.6M$443.0M$419.8M$327.4M$188.7M$48.0M$39.5M
Property, plant and equipment $73.5M$72.7M$59.8M$37.6M$14.6M$10.7M$10.1M$10.0M
Goodwill $4.7M$4.7M$4.7M$4.7M$4.7M$4.7M$4.7M$4.7M$4.7M$4.7M
Total assets $5.57B$5.74B$5.17B$4.54B$4.21B$4.25B$4.10B$3.54B$2.77B$1.85B
Long-term debt $249.5M$295.0M$614.9M$614.9M$514.9M$514.9M$514.9M$525.2M$410.2M$190.0M
Total liabilities $5.21B$5.35B$4.80B$4.18B$3.83B$3.92B$3.80B$3.25B$2.54B$1.70B
Retained earnings $193.3M$230.6M$207.5M$205.7M$172.4M$126.7M$99.7M$77.7M$57.1M$43.7M
Total equity $359.8M$384.1M$362.8M$365.0M$380.3M$330.9M$304.9M$288.7M$224.1M$153.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.4M$13.0M$11.7M$82.7M$54.8M$13.1M-$43.6M$29.4M$24.6M$26.5M
Depreciation and amortisation $6.2M$8.5M$5.7M$8.7M$8.8M$7.8M$6.9M$5.7M$5.3M$3.8M
Stock-based compensation $1.2M$1.8M$1.3M$2.0M$2.4M$2.1M$1.7M$1.6M$1.0M$736.0K
Capital expenditure $1.2M$2.6M$5.4M$17.5M$29.9M$25.6M$4.1M$2.2M$1.5M$3.2M
Investing cash flow $128.7M-$496.2M-$474.5M-$601.0M$43.9M-$44.8M-$313.3M-$638.7M-$908.2M-$586.7M
Financing cash flow -$141.8M$543.7M$612.2M$331.9M-$75.6M$124.2M$495.5M$750.1M$892.1M$574.6M
Dividends paid $2.1M$2.1M$2.2M$2.3M$2.4M$2.3M$2.4M$2.2M$1.7M$1.2M
Buybacks $521.0K$283.0K$9.3M$27.8M$4.4M$0$9.8M$216.0K$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001562463-26-000022.

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