2024-02-01 16:00:36 ET
Summary
- First Internet Bancorp beat Q4 earnings estimates with GAAP EPS of $0.48 and revenue of $27.21M.
- The loan portfolio grew by 2.80% to $3.84 billion, with expected growth of 5-6% in 2024.
- NIM shows improvement, reaching 1.68% in Q4 2023, with potential to exceed 2% if there are more than expected rate cuts.
First Internet Bancorp ( INBK ) is a bank created in 1999 and is headquartered in Fishers, Indiana. Over the past few years, this bank has shown a lot of volatility due to fluctuating results, and a few days ago Q4 2023 earnings were released. Both EPS and revenue estimates were beaten:
- Q4 GAAP EPS of $0.48 beats by $0.17.
- Revenue of $27.21M (-1.0% Y/Y) beats by $8.39M.
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For further details see:
First Internet Bancorp: There Is Light At The End Of The Tunnel