First Internet Bancorp (INBK) Reports In-Line Q2 EPS

First Internet Bancorp (NASDAQ: INBK) reported Q2 EPS of $0.61, in-line with the analyst estimate of $0.61.

• Net income of $6.3 million, an increase of 28.5% from the third quarter of 2017
• Diluted earnings per share of $0.61
• Total loans increased $625 million from September 30, 2017, or 33.5%, and $120 million from June 30, 2018, or 20.1% annualized
• Net interest income of $16.0 million, an increase of 12.5% from the third quarter of 2017 and 3.3% from the second quarter of 2018

David Becker, Chairman, President and Chief Executive Officer, commented, “We are pleased with our results in the third quarter, driven by solid loan growth, excellent credit quality and well-managed expenses. 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.

“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,” Becker added. “Our entrepreneurial culture provides us a competitive advantage in attracting and retaining top talent – and that is key to our ongoing growth and success.”

For earnings history and earnings-related data on First Internet Bancorp (INBK) click here.

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