First Internet Bancorp reports Q3 EPS 63c, consensus 61c
Reports Q3 revenue $20.8M, consensus $16.78M. Reports Q3 net interest margin 1.54% vs. 2.06% last year. David Becker, Chairman, President and CEO, commented, "We are very pleased with our results in the third quarter, driven by continued revenue growth, well-managed expenses and strong balance sheet management. These balance sheet strategies, which included the sale of lower-yielding loans, reflect our disciplined approach to capital deployment. The loan sales enabled us to enhance our profitability through additional fee revenue, and support our loan origination teams as they redeployed capital into higher-yielding new production. Additionally, our direct-to-consumer mortgage business had a stellar quarter, posting a 62% increase in revenue compared to the second quarter."