First Internet Bancorp reports Q2 adjusted EPS 2c, consensus 31c

Reports Q2 tangible book value per share $44.25. Reports Q2 CET1 capital ratio 8.9%. “In the second quarter, we continued to address credit issues in our franchise finance and our small business loan portfolios; the work we did here is evident in our provision expense as well as our bottom line results,” said David Becker, CEO and chairman of First Internet Bancorp (INBK). “Entering the third quarter, we see encouraging signs in both portfolios. Further, our overall asset quality and capital levels remain sound.