First Internet Bancorp Q1 net income jumps 166%

First Internet Bancorp

30/04/2026 21:18

Overview

U.S. digital bank's Q1 revenue rose 21% yr/yr, net income up 166%

Diluted EPS for Q1 rose 164% yr/yr

Provision for credit losses increased due to CECL re-measurement, but credit trends improved

Outlook

Company maintains 2026 guidance but notes heightened macroeconomic and geopolitical uncertainty

First Internet Bancorp says full-year loan growth target of 15-17% may be ambitious

Result Drivers

NET INTEREST INCOME AND MARGIN - Co said growth in net interest income and expansion of net interest margin drove revenue higher, attributed to disciplined balance sheet repositioning and proactive liability management

LOAN PRODUCTION - Strong commercial loan production led by construction and single tenant lease financing, with robust loan pipelines setting stage for continued growth

CREDIT TRENDS - Improved credit performance and enhanced underwriting standards led to declines in nonaccrual unguaranteed SBA and franchise finance balances

Company press release: ID:nBw5CLktPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.29
Q1 Net Income
$2.51 mln
Q1 CET1 Capital Ratio
8.97%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for First Internet Bancorp is $23.25, about 3% above its April 29 closing price of $22.58

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 5 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)