Profit Rises For First Internet Bank

Posted: Updated:
First Internet Bancorp is headquartered in Fishers. First Internet Bancorp is headquartered in Fishers.
FISHERS -

Fishers-based First Internet Bancorp (Nasdaq: INBK) is reporting third quarter net income of $6.3 million, up from $4.9 million during the same period last year. Chief Executive Officer David Becker credits the results to "solid loan growth, excellent credit quality and well-managed expenses."

The parent of First Internet Bank is also reporting year-to-date net income of $18.3 million, up from $11.7 million during the third quarter of 2017.

"We continue to take a disciplined approach to capital deployment and execute on our lending strategies, including our specialized areas of focus in public finance, healthcare and single tenant lease financing," said Becker. "Looking to the fourth quarter and into 2019, we see tremendous potential in our current business lines, and we continue to explore new opportunities to diversify our revenue channels. Our entrepreneurial culture provides us a competitive advantage in attracting and retaining top talent – and that is key to our ongoing growth and success."

You can connect to the full third quarter earnings report by clicking here.

The "entrepreneurial culture" of First Internet Bank mentioned by Becker was highlighted as part of the Culture Matters profile on the company earlier this year on Inside INdiana Business with Gerry Dick. You can watch the entire segment by clicking the link below.

  • Perspectives

    • Regional Investment Proposal Could be a Game Changer for Quality of Place Initiatives in Indiana

      While quality of place may be defined differently by people, a growing number of Hoosiers recognize the importance of this issue. In particular, the impact of quality of place on talent attraction and retention in a geographic area cannot be ignored. The future of every community is dependent on quality of place. Like many Midwestern states, Indiana is not growing at the same pace as areas in the southern and western regions of the United States.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      Tech Vets Purchase Popular Indy Nightclub

      A group of Indianapolis tech entrepreneurs has bought a popular nightclub in the city's Broad Ripple neighborhood. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they will retain the Vogue's current staff to manage the venue's day-to-day operations. The new owners say they will detail plans to reinvigorate the Vogue through enhanced fan experience and engagement in the coming months. Tobias, Kraege and Davis purchased the Vogue...

    • 2019 'Stellar' Finalists Announced

      Lieutenant Governor Suzanne Crouch has unveiled the finalists for the 2019 Stellar Communities Program. The four regions selected will receive a planning grant and work with the Indiana Communities Institute at Ball State University on project alignment and continued planning efforts. Stellar Communities, launched in 2011, is led by the Indiana Office of Community and Rural Affairs and aims to boost community and economic development and promote local and regional partnerships.

    • Bona Vita's projects in Indiana include the Logansport Hospital Cancer Center and YMCA facilities in Fort Wayne and Kokomo.

      Architecture Firm Opening Fort Wayne HQ

      Bona Vita Architecture will this afternoon officially open its new downtown Fort Wayne headquarters. The company says the move will allow it to add about 15 jobs, more than doubling its current headcount. The architecture firm will hold a ribbon-cutting this morning at 10:30. The company invested more than $100,000 to renovate the building. "This new location will not only facilitate fantastic visibility for our company, but will also allow us to double our workforce in an area...
    • Skilled Nursing Facility Proposed for Merrillville

      A new $7 million skilled nursing facility is being proposed in Merrillville. Our partners at The Times of Northwest Indiana report the development would include five residential buildings outfitted with 12 beds, a dining area, beauty salon and spa. 

    • Former Museum Building to Get New Life

      The former home of the Vigo County Historical Society and Museum will continue to serve as a tourist destination. The Sage Mansion in Terre Haute, which housed the museum for more than 60 years, has new owners who are planning to redevelop the property into a bed and breakfast.