First Internet Bank Profit Ticks Up in Q2

(photo courtesy of First Internet Bank)

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Fishers-based First Internet Bancorp (Nasdaq: INBK) is reporting second quarter net income of $13.1 million, up from $3.9 million during the same period last year.

The bank says the profit is the result of net interest margin expansion and disciplined expense management.

“We also maintained excellent credit quality, as nonperforming loans declined during the quarter and delinquencies were at historically low levels,” said David Becker, chairman and chief executive officer. “Additionally, our growing national SBA platform steadily gained momentum and drove higher gain-on-sale revenue. Looking forward, pipelines in SBA, as well as in other key lines of business, grew significantly during the quarter, leaving us well-positioned to capitalize on loan growth opportunities in the second half of 2021.”

You can connect to the full earnings report by clicking here.