First Internet Bancorp (INBK)
Runs a branchless bank across digital deposits, commercial lending, and fintech partnerships.
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Operates First Internet Bank of Indiana as a branchless bank with digital deposits, commercial lending, consumer lending, treasury management, and selected fintech partnerships. Reporting is consolidated into one commercial banking segment, with funding quality, credit performance, and bank-capital rules shaping the model.
Runs through First Internet Bank of Indiana, a branchless, Indiana-chartered bank built around nationwide digital deposit gathering rather than traditional branches. The holding company reports a single commercial banking segment even though the product set spans deposits, lending, treasury management, and partner-bank activity.
Commercial banking includes C&I lending, construction and investor commercial real estate, single-tenant lease financing, public finance, specialty finance, SBA and small-business lending, franchise finance, and commercial deposits. Consumer activity adds residential mortgage, home equity, other consumer loans, and digital small-business deposits.
Execution depends on digital funding, fintech-partnership deposit quality, net interest margin, regulatory capital, and credit discipline. Recent operating context centers on branchless customer acquisition, fintech-deposit growth, and tighter small-business and franchise-finance underwriting as core operating variables.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 26, 2026 | Piper Sandler | Reiterate | Rating: —Target: $24 | Target: $26 |
| Jun 24, 2026 | Benchmark Co. | Target | Target: — | Target: $33 |
| Jun 24, 2026 | Benchmark | Initiate | Rating: — | |
| May 1, 2026 | Piper Sandler | Reiterate | Rating: —Target: $23.50 | Target: $24 |
| Jan 30, 2026 | Piper Sandler | Reiterate | Rating: —Target: $22 | Target: $23.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $8.7M · Total debt $345.1M · Total assets $5.56B · Shareholders' equity $363.5M
- Revenue
- $85.3M
- Operating income
- $1.6M
- Net income
- $2.4M
HistoryDividendAnnual yield
| Institutions | ≈ 70.14% | 6.13M shares | |
|---|---|---|---|
| 122 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 8.14% | 711.1K shares | |
| 10 holders · as of May 19, 2026 | |||
| Other | ≈ 21.72% | 1.90M shares | |
| remainder | |||
8.73M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.32% | 726,936 | as of Jun 30, 2026 |
David B. BeckerInsiderdirector, officer: Chairman and CEO | 4.96% | 432,810 | filed Jan 21, 2026 |
Heartland Advisors IncInstitution | 4.30% | 375,900 | as of Jun 30, 2026 |
Aegis Financial CorpInstitution | 4.06% | 354,261 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.97% | 346,351 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 24, 2026 | Joseph A. Fenech | director | +1,000 | $19.83 |
| Nov 17, 2025 | Nicole S. Lorch | officer: President & COO | +2,000 | $17.96 |
| Oct 30, 2025 | Ann C. Dee | director | +1,110 | $17.94 |
| Oct 29, 2025 | David B. Becker | director, officer: Chairman and CEO | +5,000 | $18.67 |
| Oct 28, 2025 | John K. Jr Keach | director | +2,000 | $19.34 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| First Internet Bancorp | $27.57 | −0.14% | $240.7M | — | 6.8 | 0.8 | +28.3% |
| Axos Financial | $90.75 | +0.13% | $5.16B | 10.7 | 9.4 | 2.4 | +18.1% |
| Live Oak Bancshares | $38.29 | +0.71% | $1.76B | 13.4 | 10.5 | 1.6 | +10.0% |
| The Bancorp | $51.15 | +1.73% | $2.09B | 9.5 | 7.4 | 2.8 | −24.0% |
| Customers Bancorp | $78.37 | −0.63% | $2.67B | 9.6 | 8.7 | 1.8 | +12.4% |
| Byline Bancorp | $37.44 | −0.09% | $1.70B | 11.4 | 11.3 | 2.7 | +6.6% |
| Coastal Financial | $45.26 | +0.26% | $688.3M | — | 9.3 | 0.9 | +54.6% |
| Lakeland Financial | $60.02 | +0.15% | $1.49B | 13.7 | 13.6 | 3.5 | +6.8% |
| Enterprise Financial Services | $61.26 | +0.46% | $2.21B | 12.1 | 10.8 | 2.2 | +30.9% |
| Median | 11.4 | 10.0 | 2.3 | +11.2% |