Businesswire  | 
aufrufe Aufrufe: 111

First Internet Bancorp Reports Fourth Quarter and Full Year 2025 Results

First Internet Bancorp (the “Company”) (Nasdaq: INBK), the parent company of First Internet Bank (the “Bank”), announced today financial and operational results for the fourth quarter and fiscal year ended December 31, 2025.

play Anhören
share Teilen
feedback Feedback
copy Kopieren
newsletter
font_big Schrift vergrößern
Die Digitalisierung ist auf dem Vormarsch (Symbolbild).
Quelle: - © pixabay.com:
FIRST INTERN.BANCO. 19,91 $ FIRST INTERN.BANCO. Chart -0,60%
Zugehörige Wertpapiere:

Key Business Updates
  • Revenue Momentum: Strong growth in net interest income (up 29%) and fully-taxable equivalent (“FTE”) net interest margin (now 2.30%) drove adjusted quarterly revenue up 21% year-over-year to $42.1 million1. When combined with well-managed expenses, adjusted pre-provision net revenue grew 66% year-over-year.
  • Credit Trends: The provision for credit losses for the fourth quarter of 2025 declined significantly following the large increase to the allowance for credit losses (“ACL”) related to small business lending in the third quarter of 2025 as well as lower net charge-offs. While ongoing proactive and prudent credit-related actions continued to yield notable progress in resolving problem loans, the Company expects the provision to remain elevated in the first half of 2026 and then gradually improve in the second half of the year.
  • Strong Loan Production: Commercial loan production was robust during the fourth quarter driven by single tenant lease financing and construction. Additionally, loan pipelines at year end were solid, setting the stage for continued net interest income growth in 2026.

Fourth Quarter 2025 Financial Performance
  • Net income of $5.3 million and diluted earnings per share of $0.60
    • Quarterly results included a pre-tax loss of $0.4 million on the sale of an additional $14.3 million of single tenant lease financing loans to fulfill our commitment related to the large sale in the third quarter of 2025
    • Adjusted net income, excluding the impact of the additional loan sale was $5.6 million1 and adjusted diluted earnings per share was $0.641
  • Total revenue of $41.7 million and adjusted total revenue of $42.1 million1, which increased 21% from the prior year period
  • Net interest income of $30.3 million and fully-taxable equivalent net interest income of $31.5 million1, increased 29% and 27% over the prior year period, respectively
  • Net interest margin of 2.22% and FTE net interest margin of 2.30%1, each increased 55 basis points (“bps”), from the prior year period
  • Pre-provision net revenue (“PPNR”) of $17.5 million1 and adjusted PPNR of $17.9 million1, which increased 66% from the prior year period
  • Total loan balances of $3.7 billion, up $143.2 million, or 4%, from the third quarter of 2025
    • Quarterly growth driven by strong production in single tenant lease financing, construction and small business lending
    • The yield on the loan portfolio increased 21 bps from the prior quarter to 6.39%
  • Total deposits of $4.8 billion, compared to $4.9 billion in the third quarter of 2025
    • Continued growth in fintech deposits, allowing higher-cost CDs and brokered deposits to mature
    • The cost of interest-bearing deposits declined 19 bps from the prior quarter to 3.68%
    • Approximately $1.1 billion of fintech deposits moved off-balance sheet, providing flexibility to manage the size of the balance sheet
    • Loans to deposits ratio of 77.4%
  • Provision for credit losses of $12.0 million, down $22.8 million, or 66%, from the third quarter of 2025
    • Net charge-offs to average loans of 1.68%, improved from 1.89% in the third quarter of 2025
    • Net charge-offs included $3.5 million of balances previously reserved for
  • Nonperforming loans to total loans of 1.56%; ACL to total loans of 1.49%
    • Increase in NPLs consisted primarily of guaranteed SBA 7(a) balances and fully-collateralized unguaranteed SBA 7(a) balances
    • NPLs / total loans of 1.20% excluding guaranteed balances
    • ACL to NPLs of 95%; or 124% excluding guaranteed balances
  • Tangible common equity to tangible assets of 6.38%1, and 6.94%1 ex-AOCI and adjusted for normalized cash balances; CET1 ratio of 8.93%; total capital ratio of 12.44%
    • Repurchased 27,998 shares during the quarter at an average price of $18.64 per share
  • Tangible book value per share of $40.871 increased 3% from the third quarter of 2025

1 This information represents a non-GAAP financial measure. For a discussion of non-GAAP financial measures, see the section below entitled "Non-GAAP Financial Measures."

"We are pleased to close 2025 with strong fourth quarter results that demonstrate the resilience of our differentiated digital banking model," said David Becker, Chairman and CEO of First Internet Bancorp. "In 2025, we produced solid core financial performance as net interest income grew 30% year-over-year and delivered meaningful strategic accomplishments including the successful $850 million single tenant lease financing loan sale to Blackstone, exceptional growth in our Banking-as-a-Service initiatives and strategic investments in technology to further improve our credit underwriting and efficiency.”

"Additionally, we took decisive and proactive measures to address credit challenges in our SBA and franchise finance portfolios through enhanced underwriting standards, and improved collection and risk management through strategic investments in AI and automation. As a result, we expect gradual credit improvement in the second half of this year. Looking ahead, our digital-first model, strong loan pipelines, and diversified revenue streams position us well for continued growth. We remain confident in our ability to deliver strong financial performance while building long-term shareholder value through disciplined execution of our strategic priorities."

Full Year 2026 Outlook
  • Continued loan growth in the range of 15% to 17%, driven by strong pipelines across our commercial lending verticals
  • FTE net interest margin expansion, reaching 2.75% to 2.80% by the fourth quarter of 2026, driven by ongoing deposit repricing and optimized asset mix
  • FTE net interest income of $155 million to $160 million
  • Noninterest income of $33 million to $35 million, reflecting continued strong BaaS growth and modest SBA originations and gain on sale activity
  • Operating expenses of $111 million to $112 million
  • Provision for credit losses, including net charge-offs and reserves related to problem loans, of $50 million to $53 million:
    • Provision for credit losses is expected to remain elevated in the first half of the year but gradually improve in the second half of the year
    • First quarter of 2026 provision for credit losses is expected to be in the range of $17 million to $19 million and second quarter of 2026 is expected to be in the range of $14 million to $16 million
  • Diluted earnings per share of $2.35 to $2.45

Conference Call and Webcast

The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, January 29, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at (800) 549-8228; access code: 39388. A recorded replay can be accessed through February 5, 2026, by dialing (888) 660-6264; access code: 39388 #.

Additionally, interested parties can listen to a live webcast of the call on the Company's website at www.firstinternetbancorp.com. An archived version of the webcast will be available in the same location shortly after the live call has ended.

About First Internet Bancorp

First Internet Bancorp is a bank holding company with assets of $5.6 billion as of December 31, 2025. The Company’s subsidiary, First Internet Bank, opened for business in 1999 as an industry pioneer in the branchless delivery of banking services. First Internet Bank provides consumer and small business deposit, SBA financing, franchise finance, consumer loans, and specialty finance services nationally as well as commercial real estate loans, construction loans, commercial and industrial loans, and treasury management services on a regional basis. First Internet Bancorp’s common stock trades on the Nasdaq Global Select Market under the symbol “INBK” and is a component of the Russell 2000® Index. Additional information about the Company is available at www.firstinternetbancorp.com and additional information about First Internet Bank, including its products and services, is available at www.firstib.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements with respect to the financial condition, results of operations, trends in lending policies and loan programs, plans and prospective business partnerships, objectives, future performance and business of the Company. Forward-looking statements are generally identifiable by the use of words such as “anticipate,” “believe,” “continue,” “could,” “drive,” “enhance,” “estimate,” “expanding,” “expect,” “future,” “going forward,” “growth,” ”improve,” “increase,” “looking ahead,” “maintain,” “may,” “ongoing,” “opportunities,” “pending,” “plan,” “position,” “preliminary,” “remain,” “setting the stage,” “should,” “stable,” “thereafter,” “well-positioned,” “will,” or other similar expressions. Forward-looking statements are not a guarantee of future performance or results, are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the information in the forward-looking statements. Such statements are subject to certain risks and uncertainties including: our business and operations and the business and operations of our vendors and customers: general economic conditions, whether national or regional, and conditions in the lending markets in which we participate that may have an adverse effect on the demand for our loans and other products; our credit quality and related levels of nonperforming assets and loan losses, and the value and salability of the real estate that is the collateral for our loans. Other factors that may cause such differences include: failures or breaches of or interruptions in the communications and information systems on which we rely to conduct our business; failure of our plans to grow our commercial and industrial, construction, and SBA loan portfolios; competition with national, regional and community financial institutions; the loss of key members of senior management; the anticipated impacts of inflation and rising interest rates on the general economy; risks relating to the regulation of financial institutions; and other factors identified in reports we file with the U.S. Securities and Exchange Commission. All statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Non-GAAP financial measures, specifically tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, average tangible common equity, return on average tangible common equity, total interest income – FTE, net interest income – FTE, net interest margin – FTE, adjusted total revenue, pre-provision net revenue (loss), adjusted pre-provision net revenue, adjusted noninterest income, adjusted noninterest expense, adjusted income (loss) before income taxes, adjusted income tax provision (benefit), adjusted net income (loss), adjusted diluted earnings (loss) per share, adjusted return on average assets, adjusted return on average shareholders’ equity, adjusted return on average tangible common equity and adjusted tangible common equity to adjusted tangible assets are used by the Company’s management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the table at the end of this release under the caption “Reconciliation of Non-GAAP Financial Measures.”

First Internet Bancorp
Summary Financial Information (unaudited)
Dollar amounts in thousands, except per share data
 
 
Three Months Ended Twelve Months Ended
 
December 31, September 30, December 31, December 31, December 31,

2025

2025

2024

2025

2024
 
Net income (loss)

5,289

 

(41,593

7,330

 

(35,168

25,276

 

 
Per share and share information
Earnings (loss) per share - basic

0.61

 

(4.76

0.84

 

(4.03

2.91

 

Earnings (loss) per share - diluted

 

0.60

 

 

(4.76

 

0.83

 

(4.03

 

2.88

 

Dividends declared per share

 

0.06

 

 

0.06

 

 

0.06

 

 

0.24

 

 

0.24

 

Book value per common share

 

41.41

 

 

40.42

 

 

44.31

 

 

41.41

 

 

44.31

 

Tangible book value per common share 1

 

40.87

 

 

39.88

 

 

43.77

 

 

40.87

 

 

43.77

 

Common shares outstanding

 

8,686,994

 

 

8,713,094

 

 

8,667,894

 

 

8,686,994

 

 

8,667,894

 

Average common shares outstanding:
Basic

 

8,728,342

 

 

8,742,052

 

 

8,696,704

 

 

8,729,970

 

 

8,690,416

 

Diluted

 

8,769,456

 

 

8,742,052

 

 

8,788,793

 

 

8,729,970

 

 

8,765,725

 

Performance ratios
Return on average assets

 

0.37

 

(2.71

 

0.50

 

(0.60

 

0.46

Return on average shareholders' equity

 

5.79

 

(42.11

 

7.49

 

(9.15

 

6.70

Return on average tangible common equity 1

 

5.87

 

(42.62

 

7.58

 

(9.26

 

6.78

Net interest margin

 

2.22

 

2.04

 

1.67

 

2.01

 

1.65

Net interest margin - FTE 1,2

 

2.30

 

2.12

 

1.75

 

2.09

 

1.74

Capital ratios 3
Total shareholders' equity to assets

 

6.46

 

6.25

 

6.69

 

6.46

 

6.69

Tangible common equity to tangible assets 1

 

6.38

 

6.17

 

6.62

 

6.38

 

6.62

Tier 1 leverage ratio

6.24

%

 

5.69

 

6.90

6.24

%

 

6.90

Common equity tier 1 capital ratio

8.93

%

 

9.24

 

9.30

8.93

%

 

9.30

Tier 1 capital ratio

8.93

%

 

9.24

 

9.30

8.93

%

 

9.30

Total risk-based capital ratio

12.44

%

 

13.11

 

12.62

12.44

%

 

12.62

Asset quality
Nonperforming loans

58,538

 

53,250

 

28,421

 

58,538

 

28,421

 

Nonperforming assets

 

61,355

 

 

55,237

 

 

28,905

 

 

61,355

 

 

28,905

 

Nonperforming loans to loans

 

1.56

 

1.48

 

0.68

 

1.56

 

0.68

Nonperforming assets to total assets

 

1.10

 

0.98

 

0.50

 

1.10

 

0.50

Allowance for credit losses - loans to:
Loans

 

1.49

 

1.66

 

1.07

 

1.49

 

1.07

Nonperforming loans

 

95.1

 

112.5

 

157.5

 

95.1

 

157.5

Net charge-offs to average loans

 

1.68

 

1.89

 

0.91

 

1.45

 

0.32

Average balance sheet information
Loans

3,798,831

 

4,415,693

 

4,123,510

 

4,211,710

 

3,992,031

 

Total securities

 

943,418

 

 

898,543

 

 

841,700

 

 

919,775

 

 

770,793

 

Other earning assets

 

665,022

 

 

569,811

 

 

636,377

 

 

519,976

 

 

516,836

 

Total interest-earning assets

 

5,426,126

 

 

5,895,554

 

 

5,607,195

 

 

5,662,897

 

 

5,285,026

 

Total assets

 

5,618,089

 

 

6,081,792

 

 

5,782,116

 

 

5,848,823

 

 

5,462,730

 

Noninterest-bearing deposits

 

155,030

 

 

174,494

 

 

114,311

 

 

154,712

 

 

114,396

 

Interest-bearing deposits

 

4,723,879

 

 

5,133,010

 

 

4,726,449

 

 

4,866,930

 

 

4,318,926

 

Total deposits

 

4,878,909

 

 

5,307,504

 

 

4,840,760

 

 

5,021,642

 

 

4,433,322

 

Shareholders' equity

 

362,183

 

 

391,886

 

 

389,435

 

 

384,432

 

 

377,215

 

 
1 Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below
2 On a fully-taxable equivalent ("FTE") basis assuming a 21% tax rate
3 Regulatory capital ratios are preliminary pending filing of the Company's regulatory reports
First Internet Bancorp
Condensed Consolidated Balance Sheets (unaudited, except for December 31, 2024)
Dollar amounts in thousands
 
 
December 31, September 30, December 31,

 

2025

 

 

2025

 

 

2024

 

 
Assets
Cash and due from banks

6,145

 

10,923

 

9,249

 

Interest-bearing deposits

 

450,632

 

 

776,738

 

 

457,161

 

Securities available-for-sale, at fair value

 

778,687

 

 

625,906

 

 

587,355

 

Securities held-to-maturity, at amortized cost, net of allowance for credit losses

 

250,609

 

 

261,725

 

 

249,796

 

Loans held-for-sale

 

108,608

 

 

141,580

 

 

54,695

 

Loans

 

3,746,728

 

 

3,603,506

 

 

4,170,646

 

Allowance for credit losses - loans

 

(55,686

 

(59,923

 

(44,769

Net loans

 

3,691,042

 

 

3,543,583

 

 

4,125,877

 

Accrued interest receivable

 

27,909

 

 

26,674

 

 

28,180

 

Federal Home Loan Bank of Indianapolis stock

 

28,350

 

 

28,350

 

 

28,350

 

Cash surrender value of bank-owned life insurance

 

42,559

 

 

42,256

 

 

41,394

 

Premises and equipment, net

 

67,934

 

 

68,843

 

 

71,453

 

Goodwill

 

4,687

 

 

4,687

 

 

4,687

 

Servicing asset

 

22,793

 

 

22,107

 

 

16,389

 

Other real estate owned

 

2,631

 

 

1,801

 

 

272

 

Accrued income and other assets

 

89,061

 

 

84,001

 

 

63,001

 

Total assets

5,571,647

 

5,639,174

 

5,737,859

 

 
Liabilities
Noninterest-bearing deposits

146,879

 

243,539

 

136,451

 

Interest-bearing deposits

 

4,692,934

 

 

4,671,895

 

 

4,796,755

 

Total deposits

 

4,839,813

 

 

4,915,434

 

 

4,933,206

 

Advances from Federal Home Loan Bank

 

249,500

 

 

249,500

 

 

295,000

 

Subordinated debt

 

105,465

 

 

105,386

 

 

105,150

 

Accrued interest payable

 

1,744

 

 

1,236

 

 

2,495

 

Accrued expenses and other liabilities

 

15,358

 

 

15,450

 

 

17,945

 

Total liabilities

 

5,211,880

 

 

5,287,006

 

 

5,353,796

 

Shareholders' equity
Voting common stock

 

186,577

 

 

186,608

 

 

186,094

 

Retained earnings

 

193,320

 

 

188,564

 

 

230,622

 

Accumulated other comprehensive loss

 

(20,130

 

(23,004

 

(32,653

Total shareholders' equity

 

359,767

 

 

352,168

 

 

384,063

 

Total liabilities and shareholders' equity

5,571,647

 

5,639,174

 

5,737,859

 

First Internet Bancorp
Condensed Consolidated Statements of Income (unaudited, except for the twelve months ended December 31, 2024)
Dollar amounts in thousands, except per share data
Three Months Ended Twelve Months Ended
 
December 31, September 30, December 31, December 31, December 31,

 

2025

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 
Interest income
Loans

61,535

 

68,958

 

61,523

 

259,840

 

233,844

 

Securities - taxable

 

8,811

 

 

8,614

 

 

7,619

 

 

34,950

 

 

26,742

 

Securities - non-taxable

 

651

 

 

652

 

 

794

 

 

2,618

 

 

3,775

 

Other earning assets

 

7,057

 

 

6,164

 

 

7,835

 

 

22,749

 

 

27,526

 

Total interest income

 

78,054

 

 

84,388

 

 

77,771

 

 

320,157

 

 

291,887

 

Interest expense
Deposits

 

43,836

 

 

50,134

 

 

49,111

 

 

188,390

 

 

183,150

 

Other borrowed funds

 

3,896

 

 

3,902

 

 

5,109

 

 

18,007

 

 

21,360

 

Total interest expense

 

47,732

 

 

54,036

 

 

54,220

 

 

206,397

 

 

204,510

 

Net interest income

 

30,322

 

 

30,352

 

 

23,551

 

 

113,760

 

 

87,377

 

Provision for credit losses

 

11,984

 

 

34,789

 

 

7,201

 

 

72,314

 

 

17,070

 

Net interest income (loss) after provision
for credit losses

 

18,338

 

 

(4,437

 

16,350

 

 

41,446

 

 

70,307

 

Noninterest income (loss)
Service charges and fees

 

454

 

 

369

 

 

248

 

 

1,366

 

 

959

 

Loan servicing revenue

 

2,713

 

 

2,055

 

 

1,825

 

 

8,730

 

 

6,188

 

Loan servicing asset revaluation

 

(1,800

 

(1,332

 

(428

 

(5,466

 

(2,537

Gain (loss) on sale of loans

 

8,470

 

 

(27,103

 

8,568

 

 

(8,313

 

33,329

 

Other

 

1,538

 

 

1,364

 

 

5,723

 

 

6,395

 

 

9,406

 

Total noninterest income (loss)

 

11,375

 

 

(24,647

 

15,936

 

 

2,712

 

 

47,345

 

Noninterest expense
Salaries and employee benefits

 

12,668

 

 

14,384

 

 

14,042

 

 

51,026

 

 

51,756

 

Marketing, advertising and promotion

 

644

 

 

482

 

 

696

 

 

2,475

 

 

2,589

 

Consulting and professional fees

 

1,184

 

 

979

 

 

967

Für dich aus unserer Redaktion zusammengestellt

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.


Weitere Artikel des Autors

Themen im Trend