First Internet Bancorp reports Q1 EPS 11c vs 59c last year

Reports Q1 revenue $35.52M, consensus $26.73M. Net interest income for the first quarter of 2025 was $25.1M, compared to $23.6M for the fourth quarter of 2024, and $20.7M for the first quarter of 2024. On a fully taxable equivalent basis, net interest income for the first quarter of 2025 was $26.3M, compared to $24.7M for the fourth quarter of 2024, and $21.9M for the first quarter of 2024. “Our first quarter performance was highlighted by solid core revenue growth and net interest margin expansion,” said David Becker, Chairman and Chief Executive Officer. “We saw continued momentum in operating revenues for the sixth consecutive quarter from growth in net interest income. This was fueled by higher yields on earning assets and reduced funding costs, due to the ongoing expansion of our construction, commercial and industrial and national SBA programs, which delivered meaningful positive operating leverage.”