First Internet Bank Reports Earnings Growth
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Fishers-based First Internet Bancorp (Nasdaq: INBK) is reporting growth in both its fourth quarter and full-year financial reports, while also announcing a new partnership that will allow the institution to grow its Banking-as-a-Service platform.
The bank is reporting record full-year net income of $48 million, up from $29 million the previous year. For the fourth quarter, net income came in at $12 million, up from $11 million during the same period in 2020.
“We generated record annual net income for 2021, closing out our 22nd year on a high note and paving the path for a bright future ahead,” said First Internet Bancorp Chairman and Chief Executive Officer David Becker.
Becker says the bank’s announced acquisition of Georgia-based First Century Bancorp in November will add “scalable business lines, providing us multiple growth opportunities.”
First Internet also announced a partnership with Synctera, a tech company in California that works with banks to expand their fintech services.
Click here to view the full earnings report.