NASDAQ · Financial Statements

First Internet Bancorp (INBK) Financial Statements

$26.71 NASDAQ: INBK Market Cap $233.27M

First Internet Bancorp most recently reported annual revenue of $323.0M, a net loss of $35.0M. Revenue grew at an average annual rate of 13.6% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

First Internet Bancorp: Revenue rose from $72.0M in 2016 to $323.0M in 2025, a change of +348.6% over 9 years; net profit was positive in 9 of 10 reported years; operating margin moved from 24.9% to -15.8%, a shift of -40.7 percentage points; the most recent year shows a net loss of $35.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$72.0M$94.0M$123.0M$163.0M$171.0M$162.0M$174.0M$260.0M$333.0M$323.0M
Operating Expenses$54.0M$71.0M$99.0M$136.0M$137.0M$106.0M$134.0M$255.0M$306.0M$374.0M
Operating Profit$18.0M$23.0M$24.0M$27.0M$34.0M$57.0M$40.0M$5.0M$28.0M$-51.0M
Operating Margin24.9%24.3%19.4%16.6%19.8%34.9%23.1%1.9%8.3%-15.8%
Other Income$0$0$0$0$0$0$0$0$0$0
Interest$19.0M$31.0M$53.0M$84.0M$72.0M$47.0M$60.0M$165.0M$205.0M$206.0M
Depreciation$4.0M$5.0M$6.0M$7.0M$8.0M$9.0M$9.0M$6.0M$8.0M$6.0M
Profit Before Tax$18.0M$23.0M$24.0M$27.0M$34.0M$57.0M$40.0M$5.0M$28.0M$-51.0M
Tax$32.9M$33.6M$8.6M$7.1M$13.1M$14.9M$11.4M$-70.4M$8.2M$30.9M
Net Profit$12.0M$15.0M$22.0M$25.0M$29.0M$48.0M$36.0M$8.0M$25.0M$-35.0M
EPS$2.30$2.13$2.30$2.51$2.99$4.82$3.70$0.95$2.88$-4.03
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$69.0M$72.0M$75.0M$80.0M$86.0M$92.0M$86.0M$85.0M$58.0M$89.0M$87.0M$85.0M
Operating Expenses$66.0M$69.0M$70.0M$74.0M$78.0M$84.0M$86.0M$87.0M$112.0M$84.0M$86.0M$84.0M
Operating Profit$3.0M$4.0M$6.0M$6.0M$8.0M$8.0M$0$-2.0M$-55.0M$6.0M$2.0M$2.0M
Operating Margin4.5%4.9%7.5%7.5%8.9%9.0%0.0%-2.2%-94.2%6.2%2.0%1.9%
Interest$46.0M$46.0M$47.0M$50.0M$53.0M$54.0M$52.0M$53.0M$54.0M$48.0M$44.0M$44.0M
Profit Before Tax$3.0M$4.0M$6.0M$6.0M$8.0M$8.0M$0$-2.0M$-55.0M$6.0M$2.0M$2.0M
Tax$-10.6M$-16.4M$7.7M$3.6M$8.2M$12.0M$-2.7B$110.4M$23.7M$3.9M$-40.6M$-49.1M
Net Profit$3.0M$4.0M$5.0M$6.0M$7.0M$7.0M$1.0M$0$-42.0M$5.0M$3.0M$2.0M
EPS$0.39$0.48$0.59$0.67$0.80$0.83$0.11$0.02$-4.76$0.60$0.29$0.27

Over the 10 years reported for First Internet Bancorp, borrowings increased from $227.0M in 2016 to $355.0M in 2025, cash stood at $457.0M in the latest year, shareholders' equity was $187.0M, current assets covered current liabilities 110.00 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$1.9B$2.8B$3.5B$4.1B$4.2B$4.2B$4.5B$5.2B$5.7B$5.6B
Current Assets$1.1B$1.3B$1.6B$1.9B$1.9B$1.9B$1.6B$1.8B$1.9B$1.1B
Cash$40.0M$48.0M$189.0M$327.0M$420.0M$443.0M$257.0M$406.0M$466.0M$457.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$613.0M$815.0M$936.0M$1.0B$968.0M$882.0M$950.0M$955.0M$973.0M$28.0M
Fixed Assets$10.0M$10.0M$11.0M$15.0M$38.0M$60.0M$73.0M$73.0M$71.0M$68.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$1.1B$1.8B$2.3B$2.6B$2.7B$2.7B$3.1B$3.6B$4.1B$4.6B
Other Assets$5.0M$5.0M$5.0M$5.0M$5.0M$5.0M$5.0M$5.0M$5.0M$5.0M
Total Liabilities$1.7B$2.5B$3.3B$3.8B$3.9B$3.8B$4.2B$4.8B$5.4B$5.2B
Current Liabilities$1.5B$2.1B$2.7B$3.2B$3.3B$3.2B$3.5B$4.1B$4.9B$10.0M
Borrowings$227.0M$447.0M$559.0M$584.0M$595.0M$619.0M$719.0M$720.0M$400.0M$355.0M
Other Liabilities$1.5B$2.1B$2.7B$3.2B$3.3B$3.2B$3.5B$4.1B$5.0B$4.9B
Equity$120.0M$172.0M$228.0M$219.0M$221.0M$219.0M$193.0M$185.0M$186.0M$187.0M
Reserves$154.0M$224.0M$289.0M$305.0M$331.0M$380.0M$365.0M$363.0M$384.0M$360.0M

For First Internet Bancorp, operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $2.0M; free cash flow was positive in 8 of 10 years; financing activities used $94.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$26.0M$25.0M$29.0M$-44.0M$13.0M$55.0M$83.0M$12.0M$13.0M$3.0M
Investing Cash Flow$-590.0M$-910.0M$-641.0M$-317.0M$-70.0M$14.0M$-619.0M$-480.0M$-499.0M$127.0M
Financing Cash Flow$507.0M$622.0M$586.0M$472.0M$117.0M$-97.0M$234.0M$614.0M$866.0M$-94.0M
Net Cash Flow$14.0M$9.0M$141.0M$139.0M$92.0M$23.0M$-186.0M$149.0M$61.0M$-10.0M
Free Cash Flow$23.0M$23.0M$27.0M$-48.0M$-12.0M$25.0M$65.0M$6.0M$10.0M$2.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.02
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y15.86%
Return 3Y18.87%
Return 5Y-9.47%

First Internet Bancorp (INBK) financials — frequently asked questions

What is First Internet Bancorp's annual revenue?

First Internet Bancorp (INBK) reported annual revenue of $323.0M in its most recent fiscal year.

What is First Internet Bancorp's net profit?

First Internet Bancorp (INBK) reported a net loss of $35.0M in its most recent fiscal year.

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