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INBK

First Internet Bancorp

$24.84 /

-0.41 (-1.62%)

16:56
01/25/23
01/25
16:56
01/25/23
16:56

First Internet Bancorp reports Q4 EPS 68c, consensus 70c

Reports Q4 revenue $27.5M, consensus $23.5M. Reports Q4 loan loss provision $2.1M vs. $0.9M y/y and net interest margin of 2.09% vs. 2.30% y/y. "We satisfied strong, high quality loan demand in our commercial and consumer lending businesses in the fourth quarter, capping off a year of robust loan growth and annual growth in net interest income," said David Becker, CEO. "While higher deposit costs impacted earnings in the fourth quarter, we were pleased with the increase in income generated by our loan portfolio and the strong finish to the year by our small business lending team. As a result of investments we made during 2021 and 2022 in government guaranteed lending talent, we continue to move up the rankings, placing in the top 30 of 7(a) program lenders for the SBA's 2022 fiscal year, and are in the top 15 for the 2023 fiscal year-to-date. We are also beginning to realize the rewards from important investments in our Banking-as-a-Service efforts. We made significant progress in the fourth quarter, going live with our platform partner, Increase, and providing payments services to power the small business bill pay product from Ramp, a leading corporate card and spend management platform. We have two additional fintech partners in the pilot phase, another four approaching the pilot phase and one in due diligence. We also expect our partnership with the platform Treasury Prime to be fully implemented during the first quarter of 2023 with the first associated fintech program to be on-boarded in the second quarter. As we enter 2023, we believe our increasing mix of variable rate loans, combined with new loan production coming on at higher rates, will help to offset the pressure of higher deposit costs. If interest rates follow the market's expectations, deposit costs should stabilize later this year and decline thereafter, setting the stage to achieve higher earnings and profitability in 2024. Furthermore, our balance sheet and capital levels are strong and asset quality remains high, leaving us well-positioned for any changes in the broader economic environment."

  • 26

    Jan

OTHER BREAKING NEWS FROM THE FLY

General news
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January average workweek 34.7 hours, consensus 34.3 hours  08:39
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January average hourly earnings up 4.4% vs. last year, consensus 4.4%  08:39
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January average hourly earnings up 0.3% vs. last month, consensus 0.3%  08:38
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January manufacturing payrolls up 19,000 vs. last month, consensus 5,000  08:38
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January private payrolls up 443,000 vs. last month, consensus 170,000  08:38
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General news
January unemployment rate down to 3.4%, consensus 3.6%  08:38
02/03/23
02/03
08:38
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08:38
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Syndicate
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Conference/Events
Piper Sandler economist to hold an analyst/industry conference call » 08:35
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Hot Stocks
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Taseko Mines responds comments made by Sojitz » 08:32
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General news
January nonfarm payrolls up 517,000 vs. last month, consensus 185,000  08:32
02/03/23
02/03
08:32
02/03/23
08:32
$ECON

Economic Data

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Recommendations
Amazon price target raised to $160 from $150 at Evercore ISI » 08:31
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08:31
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Amazon.com

$112.65 /

+7.48 (+7.11%)

Evercore ISI analyst Mark…

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AMZN Amazon.com
$112.65 /

+7.48 (+7.11%)

AMZN Amazon.com
$112.65 /

+7.48 (+7.11%)

08:13 Today Wedbush
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08:13 Today Susquehanna
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07:58 Today Morgan Stanley
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07:39 Today Benchmark
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AMZN Amazon.com
$112.65 /

+7.48 (+7.11%)

AMZN Amazon.com
$112.65 /

+7.48 (+7.11%)

AMZN Amazon.com
$112.65 /

+7.48 (+7.11%)

AMZN Amazon.com
$112.65 /

+7.48 (+7.11%)

General news
January U.S. nonfarm payrolls rise 517,000, unemployment rate 3.4%  08:30
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08:30
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08:30
$ECON

Economic Data

/

+

, SPY

SPDR S&P 500 ETF Trust

$416.78 /

+5.98 (+1.46%)

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S&P 500

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+

 
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SPY SPDR S&P 500 ETF Trust
$416.78 /

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$ECON Economic Data
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SPY SPDR S&P 500 ETF Trust
$416.78 /

+5.98 (+1.46%)

SPX S&P 500
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$ECON Economic Data
/

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SPY SPDR S&P 500 ETF Trust
$416.78 /

+5.98 (+1.46%)

SPX S&P 500
/

+

$ECON Economic Data
/

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SPY SPDR S&P 500 ETF Trust
$416.78 /

+5.98 (+1.46%)

SPX S&P 500
/

+

SPX S&P 500
/

+

SPY SPDR S&P 500 ETF Trust
$416.78 /

+5.98 (+1.46%)

Hot Stocks
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Dassault Aviation

$162.50 /

+ (+0.00%)

Dassault Aviation hosted…

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DUAVF Dassault Aviation
$162.50 /

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Options
One new option listing and one option delisting on February 3rd » 08:30
02/03/23
02/03
08:30
02/03/23
08:30
IVC

Invacare

/

+

New option listings for…

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IVC Invacare
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06/21/22 EF Hutton
Invacare initiated with a Buy at EF Hutton
IVC Invacare
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+

Downgrade
Bill.com cut to Neutral at BTIG on disappointing outlook » 08:28
02/03/23
02/03
08:28
02/03/23
08:28
BILL

Bill.com

$129.01 /

+9.97 (+8.38%)

As previously reported,…

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BILL Bill.com
$129.01 /

+9.97 (+8.38%)

BILL Bill.com
$129.01 /

+9.97 (+8.38%)

08:24 Today BTIG
Bill.com downgraded to Neutral from Buy at BTIG
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Bill.com price target lowered to $185 from $200 at Morgan Stanley
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Bill.com price target lowered to $175 from $250 at Canaccord
BILL Bill.com
$129.01 /

+9.97 (+8.38%)

BILL Bill.com
$129.01 /

+9.97 (+8.38%)

BILL Bill.com
$129.01 /

+9.97 (+8.38%)

Hot Stocks
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Cuentas

$1.44 /

-0.02 (-1.37%)

Cuentas has signed a…

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$1.44 /

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