Business Wire
Highlights for the fourth quarter and full year 2020 include:
· Record annual net income and diluted earnings per share of $29.5 million and $2.99, respectively
· Record quarterly net income of $11.1 million, compared to $8.4 million for the third quarter of 2020 and $7.1 million for the fourth quarter of 2019
·Record quarterly diluted earnings per share of $1.12, up 30.2% over the third quarter of 2020 and 55.6% over the fourth quarter of 2019
·Total quarterly revenue of $31.5 million, a 9.7% increase from the third quarter of 2020 and a 51.7% increase from the fourth quarter of 2019
·Net interest margin and fully-taxable equivalent net interest margin increased 25 and 24 basis points (“bps”), respectively, from the third quarter, driven by a 22 bp decrease in the cost of interest-bearing deposits
As of December 31, 2020, total shareholders’ equity was $330.9 million, an increase of $12.8 million, or 4.0%, compared to September 30, 2020, due primarily to the net income earned during the quarter and a decrease in accumulated other comprehensive loss. Book value per common share increased to $33.77 as of December 30, 2020, up from $32.46 as of September 30, 2020 and $31.30 as of December 31, 2019. Tangible book value per share increased to $33.29, up from $31.98 and $30.82, each as of the same reference dates.
Marker:
First Internet Banco (INBK)
$35.80 up 1.7 (5.26%)
Volume: 71,264
*This bank is a $4.2Billion dollar bank in assets and sells just a touch over 1XP/B...I see value.
Without a moral framework, there is nothing left but immediate self-indulgence by some and the path of least resistance by others. Neither can sustain a free society. ~ Thomas Sowell
Recent INBK News
- First Internet Bank Expands Small Business Administration Lending Team • Business Wire • 02/06/2025 04:17:00 PM
- First Internet Bank Named 2024 Online Lender of the Year by Coleman Report • Business Wire • 02/04/2025 03:31:00 PM
- First Internet Bancorp Reports Fourth Quarter and Full Year 2024 Results • Business Wire • 01/22/2025 10:01:00 PM
- First Internet Bank Recognized in GOBankingRates 2025 Best Banks Awards • Business Wire • 01/09/2025 12:59:00 PM
- First Internet Bancorp to Announce Fourth Quarter 2024 Financial Results on Wednesday, January 22 • Business Wire • 01/08/2025 09:21:00 PM
- First Internet Bancorp to Pay Cash Dividend • Business Wire • 12/17/2024 09:16:00 PM
- First Internet Bancorp Reports Third Quarter 2024 Results • Business Wire • 10/23/2024 09:08:00 PM
- First Internet Bancorp to Announce Third Quarter 2024 Financial Results on Wednesday, October 23 • Business Wire • 10/07/2024 08:47:00 PM
- First Internet Bancorp to Pay Cash Dividend • Business Wire • 09/17/2024 08:18:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:37:50 PM
- First Internet Bancorp Reports Second Quarter 2024 Results • Business Wire • 07/24/2024 08:34:00 PM
- First Internet Bancorp to Announce Second Quarter 2024 Financial Results on Wednesday, July 24 • Business Wire • 07/08/2024 08:21:00 PM
- First Internet Bancorp to Pay Cash Dividend • Business Wire • 06/18/2024 08:15:00 PM
- First Internet Bancorp Reports First Quarter 2024 Results • Business Wire • 04/24/2024 08:39:00 PM
- First Internet Bancorp to Announce First Quarter 2024 Financial Results on Wednesday, April 24 • Business Wire • 04/03/2024 08:21:00 PM
- First Internet Bancorp to Pay Cash Dividend • Business Wire • 03/18/2024 08:24:00 PM
- First Internet Bank Continues to Expand Small Business Administration Team • Business Wire • 03/07/2024 02:25:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/14/2024 10:20:23 PM
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