Fishers-based First Internet Bancorp (Nasdaq: INBK) is reporting first quarter record net income of $2.4 million, up from $2.1 million during the same period last year. Chief Executive Officer David Becker said the company continued to execute its growth strategy with loans and deposits surpassing the billion dollar mark.
"With strong contributions from our lending groups, we increased our loan portfolio 9.1% during the first quarter," said Becker. "As a result of our growth initiative, net interest income rose 34.9% over the first quarter 2015 and 6.7% over the linked quarter. I am proud of the effort our teams put forth to deliver another quarter of record net income."
First Internet’s growth continues after more than doubling its annual net income in 2015. The parent company of First Internet Bank has customers in all 50 states.