Profit Rises For First Internet Bank
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.