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First Internet Bancorp (INBK)
NASDAQ:INBK
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.76Last Year’s EPS
0.59Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 22, 2025
|% Change Since: -13.84%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call reflected strong financial growth, driven by significant increases in net income, revenue, and loan originations, particularly in the SBA sector. However, there are notable challenges related to SBA charge-offs and an increase in non-performing loans, which the company is managing proactively.Company Guidance
During the First Internet Bancorp's Q4 2024 earnings call, executives highlighted a year of substantial growth, particularly in net income and diluted earnings per share, which tripled compared to 2023, reaching $25.3 million and $2.88, respectively. Net income for the year increased by 17% to $87.4 million. The company reported a 60% increase in gain on sale revenue, resulting in an 81% rise in non-interest income compared to 2023. Total adjusted revenue grew by nearly 30%, driven by strong loan growth and effective asset optimization. Deposit balances increased by 9% or $330 million due to growth in construction, investor commercial real estate, and small business lending, allowing the company to reduce Federal Home Loan Bank borrowings while maintaining liquidity. The loans-to-deposit ratio remained stable, reflecting continued balance sheet flexibility. The fourth quarter saw net income of $7.3 million, with a 5% increase in diluted earnings per share to $0.83. The company also experienced an 8% rise in net interest income, marking five consecutive quarters of growth, and a 17% decrease in deposit costs. Looking ahead to 2025, First Internet Bancorp anticipates further improvements in net interest income and margin, aiming for a 10-12% loan growth and projecting annual net interest income to increase by mid-30% over 2024.Significant Revenue Growth
Net income and diluted earnings per share tripled compared to 2023. Gain on sale revenue increased more than 60%, fueling non-interest income growth of 81% from 2023. Total adjusted revenue growth of almost 30% far outpaced the increase in expenses.
Strong Loan and Deposit Growth
Loan balances grew by $330 million, an increase of 9% over 2023, with strong growth in construction, investor commercial real estate, and small business lending. Deposit growth allowed for significant paydown of Federal Home Loan Bank borrowings while maintaining a solid liquidity position.
SBA Lending Success
SBA loan originations totaled almost $540 million, up 45% over 2023, making the bank the eighth largest SBA 7(a) lender in the nation for the SBA's 2024 fiscal year.
Positive Margin Trends
Net interest income increased 17% compared to the fourth quarter of 2023, marking the fifth consecutive quarter of growth. Net interest margin improved by 5 basis points.
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INBK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INBK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 22, 2025 | $35.27 | $33.29 | -5.61% |
| Oct 23, 2024 | $36.46 | $34.88 | -4.33% |
| Jul 24, 2024 | $35.96 | $35.78 | -0.50% |
| Apr 24, 2024 | $33.08 | $30.53 | -7.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Internet Bancorp (INBK) report earnings?
First Internet Bancorp (INBK) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is First Internet Bancorp (INBK) earnings time?
First Internet Bancorp (INBK) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INBK EPS forecast?
INBK EPS forecast for the fiscal quarter 2025 (Q1) is 0.76.
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