First Internet Bancorp Reports Second Quarter 2020 Results

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Go back to First Internet Bancorp Reports Second Quarter 2020 Results

First Internet Bancorp (INBK) Tops Q2 EPS by 7c, Revenues Beat

July 22, 2020 4:57 PM EDT

First Internet Bancorp (NASDAQ: INBK) reported Q2 EPS of $0.40, $0.07 better than the analyst estimate of $0.33. Revenue for the quarter came in at $19.4 million versus the consensus estimate of $15.89 million.

Highlights for the second quarter include:

Total revenue of $19.4 million, net income of $3.9 million and diluted earnings per share of $0.40Cost of interest-bearing deposits decreased 30 bps from the first quarterAccelerated SBA platform build-out through further sales and operations hiresAs of July 17, 2020, loan balances of $365.8 million, or 12.6% of total loans, remained on deferral... More