First Internet Bank Hits Record Profit

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First Internet Bancorp was established in 1999 as the first state-chartered, FDIC-insured institution in the U.S. to operate exclusively online. First Internet Bancorp was established in 1999 as the first state-chartered, FDIC-insured institution in the U.S. to operate exclusively online.
FISHERS -

Fishers-based First Internet Bancorp (Nasdaq: INBK) is reporting record second quarter net income of $4 million, up from $2.8 million during the same period the previous year. Chief Executive Officer David Becker cites strong loan growth for the record numbers.

The parent of First Internet Bank says total loans as of June 30 were $1.7 billion, compared to $587 million at the same point in 2016. 

"With loans up 52.8% since this time one year ago and 18.5% over the previous quarter, we produced our highest ever quarterly net income as we saw growth and success across all business lines," said Becker. "We have done so without compromising our strong credit culture. Nonperforming loans to total loans were a modest 20 basis points as we closed out the quarter."

Becker also touted the bank's inclusion in the Indiana Chamber of Commerce's 2017 Best Places to Work list. You can connect to the bank's full earnings report by clicking here.

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