First Internet Bancorp Reports Fourth Quarter and Full Year 2025 Results

FISHERS, Ind.--( BUSINESS WIRE)--First Internet Bancorp (the “Company”) (Nasdaq: INBK), the parent company of First Internet Bank (the “Bank”), announced today financial and operational results for the fourth quarter and fiscal year ended December 31, 2025.

Key Business Updates

Fourth Quarter 2025 Financial Performance

1 This information represents a non-GAAP financial measure. For a discussion of non-GAAP financial measures, see the section below entitled "Non-GAAP Financial Measures."

"We are pleased to close 2025 with strong fourth quarter results that demonstrate the resilience of our differentiated digital banking model," said David Becker, Chairman and CEO of First Internet Bancorp. "In 2025, we produced solid core financial performance as net interest income grew 30% year-over-year and delivered meaningful strategic accomplishments including the successful $850 million single tenant lease financing loan sale to Blackstone, exceptional growth in our Banking-as-a-Service initiatives and strategic investments in technology to further improve our credit underwriting and efficiency.”

"Additionally, we took decisive and proactive measures to address credit challenges in our SBA and franchise finance portfolios through enhanced underwriting standards, and improved collection and risk management through strategic investments in AI and automation. As a result, we expect gradual credit improvement in the second half of this year. Looking ahead, our digital-first model, strong loan pipelines, and diversified revenue streams position us well for continued growth. We remain confident in our ability to deliver strong financial performance while building long-term shareholder value through disciplined execution of our strategic priorities."

Full Year 2026 Outlook

Conference Call and Webcast

The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, January 29, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at (800) 549-8228; access code: 39388. A recorded replay can be accessed through February 5, 2026, by dialing (888) 660-6264; access code: 39388 #.

Additionally, interested parties can listen to a live webcast of the call on the Company's website at www.firstinternetbancorp.com. An archived version of the webcast will be available in the same location shortly after the live call has ended.

About First Internet Bancorp

First Internet Bancorp is a bank holding company with assets of $5.6 billion as of December 31, 2025. The Company’s subsidiary, First Internet Bank, opened for business in 1999 as an industry pioneer in the branchless delivery of banking services. First Internet Bank provides consumer and small business deposit, SBA financing, franchise finance, consumer loans, and specialty finance services nationally as well as commercial real estate loans, construction loans, commercial and industrial loans, and treasury management services on a regional basis. First Internet Bancorp’s common stock trades on the Nasdaq Global Select Market under the symbol “INBK” and is a component of the Russell 2000® Index. Additional information about the Company is available at www.firstinternetbancorp.com and additional information about First Internet Bank, including its products and services, is available at www.firstib.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements with respect to the financial condition, results of operations, trends in lending policies and loan programs, plans and prospective business partnerships, objectives, future performance and business of the Company. Forward-looking statements are generally identifiable by the use of words such as “anticipate,” “believe,” “continue,” “could,” “drive,” “enhance,” “estimate,” “expanding,” “expect,” “future,” “going forward,” “growth,” ”improve,” “increase,” “looking ahead,” “maintain,” “may,” “ongoing,” “opportunities,” “pending,” “plan,” “position,” “preliminary,” “remain,” “setting the stage,” “should,” “stable,” “thereafter,” “well-positioned,” “will,” or other similar expressions. Forward-looking statements are not a guarantee of future performance or results, are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the information in the forward-looking statements. Such statements are subject to certain risks and uncertainties including: our business and operations and the business and operations of our vendors and customers: general economic conditions, whether national or regional, and conditions in the lending markets in which we participate that may have an adverse effect on the demand for our loans and other products; our credit quality and related levels of nonperforming assets and loan losses, and the value and salability of the real estate that is the collateral for our loans. Other factors that may cause such differences include: failures or breaches of or interruptions in the communications and information systems on which we rely to conduct our business; failure of our plans to grow our commercial and industrial, construction, and SBA loan portfolios; competition with national, regional and community financial institutions; the loss of key members of senior management; the anticipated impacts of inflation and rising interest rates on the general economy; risks relating to the regulation of financial institutions; and other factors identified in reports we file with the U.S. Securities and Exchange Commission. All statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Non-GAAP financial measures, specifically tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, average tangible common equity, return on average tangible common equity, total interest income – FTE, net interest income – FTE, net interest margin – FTE, adjusted total revenue, pre-provision net revenue (loss), adjusted pre-provision net revenue, adjusted noninterest income, adjusted noninterest expense, adjusted income (loss) before income taxes, adjusted income tax provision (benefit), adjusted net income (loss), adjusted diluted earnings (loss) per share, adjusted return on average assets, adjusted return on average shareholders’ equity, adjusted return on average tangible common equity and adjusted tangible common equity to adjusted tangible assets are used by the Company’s management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the table at the end of this release under the caption “Reconciliation of Non-GAAP Financial Measures.”

2025

2024

2025

2024

5,289

(41,593

)

7,330

(35,168

)

25,276

0.61

(4.76

)

0.84

(4.03

)

2.91

0.60

(4.76

)

0.83

(4.03

)

2.88

0.06

0.24

41.41

40.42

44.31

41.41

44.31

40.87

39.88

43.77

40.87

43.77

8,686,994

8,713,094

8,667,894

8,686,994

8,667,894

8,728,342

8,742,052

8,696,704

8,729,970

8,690,416

8,769,456

8,742,052

8,788,793

8,729,970

8,765,725

0.37

(2.71

0.50

(0.60

0.46

5.79

(42.11

7.49

(9.15

6.70

5.87

(42.62

7.58

(9.26

6.78

2.22

2.04

1.67

2.01

1.65

2.30

2.12

1.75

2.09

1.74

6.46

6.25

6.69

6.46

6.69

6.38

6.17

6.62

6.38

6.62

6.24

5.69

6.90

6.24

6.90

8.93

9.24

9.30

8.93

9.30

8.93

9.24

9.30

8.93

9.30

12.44

13.11

12.62

12.44

12.62

58,538

53,250

28,421

58,538

28,421

61,355

55,237

28,905

61,355

28,905

1.56

1.48

0.68

1.56

0.68

1.10

0.98

0.50

1.10

0.50

1.49

1.66

1.07

1.49

1.07

95.1

112.5

157.5

95.1

157.5

1.68

1.89

0.91

1.45

0.32

3,798,831

4,415,693

4,123,510

4,211,710

3,992,031

943,418

898,543

841,700

919,775

770,793

665,022

569,811

636,377

519,976

516,836

5,426,126

5,895,554

5,607,195

5,662,897

5,285,026

5,618,089

6,081,792

5,782,116

5,848,823

5,462,730

155,030

174,494

114,311

154,712

114,396

4,723,879

5,133,010

4,726,449

4,866,930

4,318,926

4,878,909

5,307,504

4,840,760

5,021,642

4,433,322

362,183

391,886

389,435

384,432

377,215

2025

2024

6,145

10,923

9,249

450,632

776,738

457,161

778,687

625,906

587,355

250,609

261,725

249,796

108,608

141,580

54,695

3,746,728

3,603,506

4,170,646

(55,686

)

(59,923

)

(44,769

)

3,691,042

3,543,583

4,125,877

27,909

26,674

28,180

28,350

42,559

42,256

41,394

67,934

68,843

71,453

4,687

22,793

22,107

16,389

2,631

1,801

272

89,061

84,001

63,001

5,571,647

5,639,174

5,737,859

146,879

243,539

136,451

4,692,934

4,671,895

4,796,755

4,839,813

4,915,434

4,933,206

249,500

295,000

105,465

105,386

105,150

1,744

1,236

2,495

15,358

15,450

17,945

5,211,880

5,287,006

5,353,796

186,577

186,608

186,094

193,320

188,564

230,622

(20,130

)

(23,004

)

(32,653

)

359,767

352,168

384,063

5,571,647

5,639,174

5,737,859

2025

2024

2025

2024

61,535

68,958

61,523

259,840

233,844

8,811

8,614

7,619

34,950

26,742

651

652

794

2,618

3,775

7,057

6,164

7,835

22,749

27,526

78,054

84,388

77,771

320,157

291,887

43,836

50,134

49,111

188,390

183,150

3,896

3,902

5,109

18,007

21,360

47,732

54,036

54,220

206,397

204,510

30,322

30,352

23,551

113,760

87,377

11,984

34,789

7,201

72,314

17,070

18,338

(4,437

)

16,350

41,446

70,307

454

369

248

1,366

959

2,713

2,055

1,825

8,730

6,188

(1,800

)

(1,332

)

(428

)

(5,466

)

(2,537

)

8,470

(27,103

)

8,568

(8,313

)

33,329

1,538

1,364

5,723

6,395

9,406

11,375

(24,647

)

15,936

2,712

47,345

12,668

14,384

14,042

51,026

51,756

644

482

696

2,475

2,589

1,184

979

967

4,327

3,744

712

651

603

2,654

2,448

1,813

1,850

1,381

6,714

5,947

3,705

3,572

3,004

13,673

11,902

1,563

1,584

1,464

6,109

5,000

1,922

1,957

1,800

8,049

6,724

24,211

25,459

23,957

95,027

90,110

5,502

(54,543

)

8,329

(50,869

)

27,542

213

(12,950

)

999

(15,701

)

2,266

5,289

(41,593

)

7,330

(35,168

)

25,276

0.61

(4.76

)

0.84

(4.03

)

2.91

0.60

(4.76

)

0.83

(4.03

)

2.88

0.06

0.24

3,817,686

61,535

6.39

4,427,200

68,958

6.18

4,129,118

61,523

5.93

863,071

8,811

4.05

819,941

8,614

4.17

758,560

7,619

4.00

80,347

651

3.21

78,602

652

3.29

83,140

794

3.80

665,022

7,057

4.21

569,811

6,164

4.29

636,377

7,835

4.90

5,426,126

78,054

5.71

5,895,554

84,388

5.68

5,607,195

77,771

5.52

(61,378

)

(49,495

)

(46,427

)

253,341

235,733

221,348

5,618,089

6,081,792

5,782,116

1,023,305

7,524

2.92

1,399,323

11,742

3.33

574,577

2,910

2.01

18,575

0.85

20,035

0.83

21,072

0.85

1,312,201

11,238

3.40

1,250,350

11,771

3.73

1,236,116

12,309

3.96

0.00

208,545

2,111

4.03

2,369,798

25,034

4.19

2,463,302

26,579

4.28

2,686,139

31,736

4.70

4,723,879

43,836

3.68

5,133,010

50,134

3.87

4,726,449

49,111

4.13

354,926

3,896

4.35

365,119

3,902

4.24

528,806

5,109

3.84

5,078,805

47,732

3.73

5,498,129

54,036

3.90

5,255,255

54,220

4.10

155,030

174,494

114,311

22,071

17,283

23,115

5,255,906

5,689,906

5,392,681

362,183

391,886

389,435

5,618,089

6,081,792

5,782,116

30,322

30,352

23,551

1.98

1.78

1.42

2.22

2.04

1.67

2.30

2.12

1.75

4,223,146

259,840

6.15

3,997,397

233,844

5.85

839,878

34,950

4.16

692,806

26,742

3.86

79,897

2,618

3.28

77,987

3,775

4.84

519,976

22,749

4.38

516,836

27,526

5.33

5,662,897

320,157

5.65

5,285,026

291,887

5.52

(51,440

)

(42,758

)

237,366

220,462

5,848,823

5,462,730

1,152,210

36,007

3.13

494,082

10,448

2.11

20,229

171

0.85

22,336

189

0.85

1,243,300

45,459

3.66

1,230,443

51,036

4.15

0.00

141,860

6,023

4.25

2,451,191

106,753

4.36

2,430,205

115,454

4.75

4,866,930

188,390

3.87

4,318,926

183,150

4.24

421,947

18,007

4.27

629,137

21,360

3.40

5,288,877

206,397

3.90

4,948,063

204,510

4.13

154,712

114,396

20,802

23,056

5,464,391

5,085,515

384,432

377,215

5,848,823

5,462,730

113,760

87,377

1.75

1.39

2.01

1.65

2.09

1.74

221,714

5.9

206,301

5.7

120,175

2.9

48,575

1.3

50,046

1.4

53,591

1.3

647,394

17.3

644,184

17.9

269,431

6.5

372,668

9.9

300,291

8.3

413,523

9.9

222,925

5.9

108,146

3.0

949,748

22.7

442,234

11.8

480,119

13.3

485,867

11.6

139,469

3.7

150,522

4.2

181,427

4.4

430,024

11.5

401,628

11.1

331,914

8.0

417,045

11.1

450,340

12.5

536,909

12.9

2,942,048

78.4

2,791,577

77.4

3,342,585

80.2

343,110

9.2

349,275

9.7

375,160

9.0

14,725

0.4

15,806

0.4

18,274

0.4

235,876

6.3

232,006

6.4

210,575

5.0

141,952

3.8

142,245

3.9

149,342

3.6

47,630

1.3

48,753

1.5

48,030

1.2

783,293

21.0

788,085

21.9

801,381

19.2

21,387

0.6

23,844

0.7

26,680

0.6

3,746,728

100.0

3,603,506

100.0

4,170,646

100.0

146,880

3.0

243,539

5.0

136,451

2.8

1,120,850

23.2

1,003,950

20.4

896,661

18.2

18,990

0.4

18,694

0.4

19,823

0.4

1,272,845

26.3

1,250,202

25.4

1,183,789

24.0

0.0

2,004,909

41.4

2,115,613

43.0

2,133,455

43.2

275,339

5.7

283,436

5.8

563,027

11.4

4,839,813

100.0

4,915,434

100.0

4,933,206

100.0

2025

2024

2025

2024

359,767

352,168

384,063

359,767

384,063

(4,687

)

(4,687

)

(4,687

)

(4,687

)

(4,687

)

355,080

347,481

379,376

355,080

379,376

5,571,647

5,639,174

5,737,859

5,571,647

5,737,859

(4,687

)

(4,687

)

(4,687

)

(4,687

)

(4,687

)

5,566,960

5,634,487

5,733,172

5,566,960

5,733,172

8,686,994

8,713,094

8,667,894

8,686,994

8,667,894

41.41

40.42

44.31

41.41

44.31

(0.54

)

(0.54

)

(0.54

)

(0.54

)

(0.54

)

40.87

39.88

43.77

40.87

43.77

6.46

6.25

6.69

6.46

6.69

(0.08

(0.07

(0.08

(0.07

6.38

6.17

6.62

6.38

6.62

362,183

391,886

389,435

384,432

377,215

(4,687

)

(4,687

)

(4,687

)

(4,687

)

(4,687

)

357,496

387,199

384,748

379,745

372,528

5.79

(42.11

7.49

(9.15

6.70

0.08

(0.51

0.09

(0.11

0.08

5.87

(42.62

7.58

(9.26

6.78

78,054

84,388

77,771

320,157

291,887

1,161

1,158

1,152

4,645

4,650

79,215

85,546

78,923

324,802

296,537

30,322

30,352

23,551

113,760

87,377

1,161

1,158

1,152

4,645

4,650

31,483

31,510

24,703

118,405

92,027

2.22

2.04

1.67

2.01

1.65

0.08

0.09

2.30

2.12

1.75

2.09

1.74

2025

2024

2025

2024

41,697

5,705

39,487

116,472

134,722

411

37,823

38,234

(1,829

)

(1,829

)

(2,904

)

(2,904

)

42,108

43,528

34,754

154,706

129,989

5,289

(41,593

)

7,330

(35,168

)

25,276

11,984

34,789

7,201

72,314

17,070

213

(12,950

)

999

(15,701

)

2,266

17,486

(19,754

)

15,530

21,445

44,612

17,486

(19,754

)

15,530

21,445

44,612

411

37,823

38,234

357

(1,829

)

(1,829

)

(2,904

)

(2,904

)

17,897

18,069

10,797

59,679

40,331

11,375

(24,647

)

15,936

2,712

47,345

411

37,823

38,234

(1,829

)

(1,829

)

(2,904

)

(2,904

)

11,786

13,176

11,203

40,946

42,612

24,211

25,459

23,957

95,027

90,110

(452

)

(120

)

24,211

25,459

23,957

95,027

89,538

5,502

(54,543

)

8,329

(50,869

)

27,542

411

37,823

38,234

452

120

(1,829

)

(1,829

)

(2,904

)

(2,904

)

5,913

(16,720

)

3,596

(12,635

)

23,381

213

(12,950

)

999

(15,701

)

2,266

8,699

8,785

(384

)

(384

)

(610

)

(610

)

299

(4,251

)

(6,916

)

1,392

5,289

(41,593

)

7,330

(35,168

)

25,276

325

29,124

29,449

357

(1,445

)

(1,445

)

(2,294

)

(2,294

)

5,614

(12,469

)

3,591

(5,719

)

21,989

2025

2024

2025

2024

8,769,456

8,742,052

8,788,793

8,729,970

8,765,725

0.60

(4.76

)

0.83

(4.03

)

2.88

0.04

3.33

3.37

0.04

0.01

(0.16

)

(0.16

)

(0.26

)

(0.26

)

0.64

(1.43

)

0.41

(0.66

)

2.51

0.37

(2.71

0.50

(0.60

0.46

0.02

1.90

0.00

0.50

0.00

0.01

0.00

(0.10

0.00

(0.03

0.00

(0.16

0.00

(0.04

0.39

(0.81

0.24

(0.10

0.40

5.79

(42.11

7.49

(9.15

6.70

0.36

29.48

0.00

7.66

0.00

0.09

0.00

0.03

0.00

(1.48

0.00

(0.38

0.00

(2.34

0.00

(0.61

6.15

(12.63

3.67

(1.49

5.83

5.87

(42.62

7.58

(9.26

6.78

0.36

29.84

0.00

7.75

0.00

0.10

0.00

0.03

0.00

(1.49

0.00

(0.39

0.00

(2.37

0.00

(0.62

6.23

(12.78

3.72

(1.51

5.90