First Internet Bancorp Reports Third Quarter 2020 Results

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Go back to First Internet Bancorp Reports Third Quarter 2020 Results

First Internet Bancorp (INBK) Tops Q3 EPS by 62c

October 21, 2020 4:38 PM EDT

First Internet Bancorp (NASDAQ: INBK) reported Q3 EPS of $1.03, $0.62 better than the analyst estimate of $0.41.

Highlights for the third quarter include:

Record quarterly net income of $8.4 million, and adjusted net income of $10.0 million when excluding a $2.1 million pre-tax write-down of legacy other real estate owned (OREO)Record quarterly diluted earnings per share of $0.86 and $1.03 adjusted diluted earnings per share, excluding the OREO write-downTotal revenue of $28.7 million, a 48.1% increase from the second quarter, driven by record mortgage banking revenue, higher net interest income and increased SBA loan salesNet interest margin and... More