Earnings release
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First Internet Bancorp Reports Second Quarter 2026 Results - Net income of $2.4 million, up significantly from $0.2 million a year ago - - Diluted earnings per share of $0.27, up significantly from $0.02 a year ago - - Company to hold earnings call today at 5pm ET - Fishers, Indiana, July 30, 2026 – First Internet Bancorp (the “Company”) (Nasdaq: INBK), the parent company of First Internet Bank (the “Bank”), announced today financial and operational results for the second quarter ended June 30, 2026. Key Business Updates • Significant Improvement in Credit Quality: Provision for credit losses for the second quarter of 2026 of $13.4 million, down from $16.3 million in the first quarter of 2026. Notably, total nonaccrual loans declined for the second consecutive quarter, and are down 14% from the first quarter of 2026. Furthermore, delinquencies 30 days or more past due decreased to 0.78% of total performing loans, down from 1.06% in the first quarter of 2026, driven by a significant decline in small business lending delinquencies. • Revenue Momentum: Growth in net interest income (up 16%), fully-taxable equivalent (“FTE”) net interest margin of 2.47% (up 43 basis points), and strong noninterest income drove quarterly revenue up 23% year-over-year to $41.1 million. When combined with well-managed expenses, pre-provision net revenue grew 28% year-over-year to $15.0 million. • Solid Loan Production: Commercial loan balances continued to grow during the second quarter led by construction / investor commercial real estate and single tenant lease financing. While period end and average loan balances were impacted by early payoffs, loan pipelines at the end of the quarter were solid, setting the stage for continued loan growth in the second half of 2026. Additionally, the Company expects to increase its retention of embedded finance small business loans originated for one of its fintech partners, an asset class with very attractive risk-return characteristics. • Fee Revenue Acceleration: Noninterest income grew 56% year-over-year, supported by the continued growth in the Banking-as-a-Service (“BaaS”) platform. As we have selectively increased the number of fintech partners, and have expanded relationships with existing partners, fee revenue from BaaS increased 172% from the prior year period. 1 1 This information represents a non-GAAP financial measure. For a discussion of non-GAAP financial measures, see the section below entitled "Non-GAAP Financial Measures." 1
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Second Quarter 2026 Financial Performance • Net income of $2.4 million and diluted earnings per share of $0.27, both up significantly from the prior year period • Total revenue of $41.1 million, which increased 23% from the prior year period • Net interest income of $32.4 million and FTE net interest income of $33.6 million, increased 16% and 15%, respectively, over the prior year period • Net interest margin of 2.39% and FTE net interest margin of 2.47%, both increasing 43 basis points (“bps”) from the prior year period • Noninterest income of $8.7 million, which increased 56% from the prior year period • Pre-provision net revenue (“PPNR”) of $15.0 million, which increased 28% from the prior year period • Total loan balances of $3.8 billion, up $35.2 million, or 1%, from the first quarter of 2026 • The yield on the loan portfolio increased 27 bps from the prior year period to 6.34% • Solid loan production partially offset by elevated payoffs and maturities • Total deposits of $4.8 billion, down $150.3 million, or 3%, from the first quarter of 2026 • Continued growth in fintech deposits, allowing higher-cost CDs and brokered deposits to mature • The cost of interest-bearing deposits declined 54 bps from the prior year period to 3.38% • Approximately $2.4 billion of fintech deposits moved off-balance sheet into a deposit network, providing flexibility to manage the size of the balance sheet • Loans to deposits ratio of 79% • Provision for credit losses of $13.4 million, down $2.9 million, or 18%, from the first quarter of 2026 • Net charge-offs to average loans of 1.77%, an increase from 1.65% in the first quarter of 2026 • Increase in net charge-offs reflects resolution of nonperforming franchise finance loans, partially offset by a significant decline in small business lending net charge-offs • Nonperforming loans (“NPLs”) to total loans of 1.58%, compared to 1.63% in the first quarter of 2026; allowance for credit losses - loans (“ACL”) to total loans of 1.39%, compared to 1.50% in the first quarter of 2026 • Decrease in NPLs due primarily to lower nonaccrual franchise finance loans, partially offset by an increase in fully-guaranteed SBA 7(a) balances • NPLs / total loans of 1.07% excluding fully-guaranteed balances, down from 1.22% in the first quarter of 2026 • ACL to NPLs of 88%; or 130% excluding fully-guaranteed balances • Tangible common equity to tangible assets of 6.46%, and 6.98% ex-AOCI and adjusted for normalized cash balances; CET1 ratio of 8.90%; total capital ratio of 12.22% • Tangible book value per share of $41.09, up from $40.87 in the first quarter of 2026 “Our second quarter results reflect strong momentum across the business, paired with a meaningful and encouraging improvement in our credit trends," said David Becker, Chairman and CEO of First 1 1 1 1 1 1 1 2 2 1 1 This information represents a non-GAAP financial measure. For a discussion of non-GAAP financial measures, see the section below entitled "Non-GAAP Financial Measures." Regulatory capital ratios are preliminary pending filing of the Company’s regulatory reports 1 2
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Internet Bancorp. "Total revenue grew 23% year-over-year and pre-provision net revenue increased nearly 28%, while our fully-taxable equivalent net interest margin expanded 43 basis points to 2.47%. Just as importantly, our credit provision declined, nonperforming loans decreased sequentially for the first time in several quarters, small business lending net charge-offs improved significantly, and delinquencies across the portfolio fell sharply - clear evidence that the proactive credit actions we have taken over the past several quarters are working. “We are equally encouraged by the acceleration of our fee-based businesses. Noninterest income grew more than 56% year-over-year, driven by the continued strength of our Banking-as-a-Service platform and the deepening of our fintech partnerships, including an expanded relationship with jaris under which we will retain all small business loans originated through its platform. We also continue to invest in AI, automation, and digital capabilities that drive efficiency and elevate the customer experience. With improving credit, growing fee income, and a more capital- efficient balance sheet, we are well-positioned to build on this momentum through the remainder of 2026 and beyond." Full Year 2026 Outlook • Diluted earnings per share of $2.35 to $2.45 • Loan growth in the range of 4% to 6%, driven by solid pipelines across our commercial lending verticals • Outlook reflects early payoffs in commercial lending areas and lower retention of small business lending balances as secondary market premiums remain attractive • FTE net interest margin expansion, reaching 2.75% to 2.80% by the fourth quarter of 2026, driven by ongoing deposit repricing and optimized asset mix • FTE net interest income in the range of $141 million to $142 million • Noninterest income in the range of $40.5 million to $41 million, reflecting continued BaaS growth and increasing small business lending originations and gain on sale activity in the second half of 2026 • Noninterest expense in the range of $106 million to $107 million • Provision for credit losses, including net charge-offs and reserves related to problem loans, of $47 million to $48 million • Continual improvement is expected throughout the second half of 2026
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Conference Call and Webcast The Company will host a conference call and webcast at 5:00 p.m. Eastern Time today, July 30, 2026, to discuss its quarterly financial results. The call can be accessed via telephone at (833) 461-5787; meeting id: 115638970. To access the webcast and view the presentation slides, please visit www.firstinternetbancorp.com and click the link provided for Earnings Call Webcast. The webcast and slides will be available on the Company’s website shortly after the call has ended and will be archived on the Company’s website for 12 months. About First Internet Bancorp First Internet Bancorp is a bank holding company with assets of $5.6 billion as of June 30, 2026. The Company’s subsidiary, First Internet Bank, opened for business in 1999 as an industry pioneer in the branchless delivery of banking services. First Internet Bank provides consumer and small business deposits, commercial real estate and construction financing, SBA financing, public finance, consumer loans, and specialty finance services nationally, as well as commercial and industrial loans and treasury management services on a regional basis. First Internet Bancorp’s common stock trades on the Nasdaq Global Select Market under the symbol “INBK” and is a component of the Russell 2000® Index. Additional information about the Company is available at www.firstinternetbancorp.com and additional information about First Internet Bank, including its products and services, is available at www.firstib.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements with respect to the financial condition, results of operations, trends in lending policies and loan programs, plans and prospective business partnerships, objectives, future performance and business of the Company. Forward-looking statements are generally identifiable by the use of words such as “anticipate,” “believe,” “better than,” “continue,” “could,” “drive,” “enhance,” “estimate,” “expand,” “expect,” “future,” “going forward,” “growth,” ”improve,” “increase,” “looking ahead,” “maintain,” “may,” “ongoing,” “opportunities,” “pending,” “plan,” “position,” “preliminary,” “progress,” “remain,” “setting the stage,” “should,” “stable,” “thereafter,” “well-positioned,” “will,” or other similar expressions. Forward-looking statements are not a guarantee of future performance or results, are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the information in the forward-looking statements. Such statements are subject to certain risks and uncertainties including: our business and operations and the business and operations of our vendors and customers; general economic conditions, whether national or regional, and conditions in the lending markets in which we participate that may have an adverse effect on the demand for our loans and other products; our credit quality and related levels of nonperforming assets and loan losses, and the value and salability of the real estate that is the collateral for our loans. Other factors that may cause such differences include: failures or breaches of or interruptions in the communications and information systems on which we rely to conduct our business; failure of our plans to grow our commercial and industrial, construction, and SBA loan portfolios; competition with national, regional and community financial institutions; the loss of key members of senior management; the anticipated impacts of inflation and rising interest rates on the general economy; risks relating to the regulation of financial institutions; and other factors identified in reports we file with the U.S. Securities and Exchange Commission. All statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
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Non-GAAP Financial Measures This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Non-GAAP financial measures, specifically tangible common equity, tangible assets, tangible book value per common share, tangible common equity to tangible assets, average tangible common equity, return on average tangible common equity, total interest income – FTE, net interest income – FTE, net interest margin – FTE, pre-provision net revenue adjusted tangible common equity, adjusted tangible assets, adjusted tangible common equity to adjusted tangible assets, adjusted nonperforming loans to total loans and adjusted allowance for credit losses – loans to nonperforming loans are used by the Company’s management to measure the strength of its capital and analyze profitability, including its ability to generate earnings on tangible capital invested by its shareholders. Although management believes these non-GAAP measures are useful to investors by providing a greater understanding of its business, they should not be considered a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the table at the end of this release under the caption “Reconciliation of Non-GAAP Financial Measures.” Contact Information: Investors/Analysts Paula Deemer Director of Corporate Administration (317) 428-4628 investors@firstib.com Media PANBlast Zach Weismiller firstib@panblastpr.com
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First Internet Bancorp Summary Financial Information (unaudited) Dollar amounts in thousands, except per share data Three Months Ended Six Months Ended June 30,2026 March 31,2026 June 30,2025 June 30,2026 June 30,2025 Net income $ 2,367 $ 2,509 $ 193 $ 4,876 $ 1,136 Per share and share information Earnings per share - basic $ 0.27 $ 0.29 $ 0.02 $ 0.56 $ 0.13 Earnings per share - diluted 0.27 0.29 0.02 0.55 0.13 Dividends declared per share 0.06 0.06 0.06 0.12 0.12 Book value per common share 41.63 41.41 44.79 41.63 44.79 Tangible book value per common share 41.09 40.87 44.25 41.09 44.25 Common shares outstanding 8,733,574 8,716,662 8,713,094 8,733,574 8,713,094 Average common shares outstanding: Basic 8,754,008 8,734,383 8,733,559 8,744,250 8,724,657 Diluted 8,822,099 8,774,111 8,760,374 8,797,389 8,784,005 Performance ratios Return on average assets 0.17% 0.18 % 0.01 % 0.17% 0.04 % Return on average shareholders' equity 2.56% 2.72 % 0.20 % 2.64% 0.58 % Return on average tangible common equity 2.60% 2.75 % 0.20 % 2.68% 0.59 % Net interest margin 2.39 % 2.36 % 1.96 % 2.38 % 1.89 % Net interest margin - FTE 2.47 % 2.45 % 2.04 % 2.46 % 1.97 % Capital ratios Total shareholders' equity to assets 6.54 % 6.32 % 6.43 % 6.54 % 6.43 % Tangible common equity to tangible assets 6.46 % 6.24 % 6.35 % 6.46 % 6.35 % Tier 1 leverage ratio 6.23 % 6.23 % 6.69 % 6.23 % 6.69 % Common equity tier 1 capital ratio 8.90 % 8.97 % 8.90 % 8.90 % 8.90 % Tier 1 capital ratio 8.90 % 8.97 % 8.90 % 8.90 % 8.90 % Total risk-based capital ratio 12.22 % 12.50 % 12.16 % 12.22 % 12.16 % Asset quality Nonperforming loans $ 60,073 $ 61,596 $ 43.541 $ 60.073 $ 43.541 Nonperforming assets 64,573 63,691 45.539 64,573 45.539 Nonperforming loans to loans 1.58 % 1.63 % 1.00 % 1.58 % 1.00 % Nonperforming assets to total assets 1.16 % 1.12 % 0.75 % 1.16 % 0.75 % Allowance for credit losses - loans to: Loans 1.39 % 1.50 % 1.07 % 1.39 % 1.07 % Nonperforming loans 88.4 % 91.7 % 106.8 % 88.4 % 106.8 % Net charge-offs to average loans 1.77 % 1.65 % 1.31 % 1.71 % 1.12 % Average balance sheet information Loans $ 3,836,149 $ 3,874,174 $ 4,397,887 $ 3,855,056 $ 4,318,037 Total securities 1,048,742 1,022,872 934,994 1,035,879 918,547 Other earning assets 561,255 521,697 396,829 541,585 420,921 Total interest-earning assets 5,448,429 5,424,700 5,739,019 5,436,630 5,664.986 Total assets 5,656,350 5,635,646 5,924,144 5,646,054 5,847,687 Noninterest-bearing deposits 134,166 143,305 153,016 138,710 144.494 Interest-bearing deposits 4,783,803 4,744,189 4,792,939 4,764,105 4,804,396 Total deposits 4,917,969 4,887,494 4,945,955 4,902,815 4,948,890 Shareholders' equity 370,247 374,276 391,870 372,250 391,952 Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below On a fully-taxable equivalent (“FTE”) basis assuming a 21% tax rate Regulatory capital ratios are preliminary pending filing of the Company's regulatory reports 1 1 1,2 3 1 1 2 3
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First Internet Bancorp Condensed Consolidated Balance Sheets (unaudited) Dollar amounts in thousands June 30,2026 March 31,2026 June 30,2025 Assets Cash and due from banks $ 8,692 $ 10,528 $ 9,261 Interest-bearing deposits 402,276 591,277 437,100 Securities available-for-sale, at fair value 786,676 772,035 644,657 Securities held-to-maturity, at amortized cost, net of allowance for creditlosses 264,662 276,042 271,737 Loans held-for-sale 44,816 55,240 126,533 Loans 3,811,073 3,775,870 4,362,562 Allowance for credit losses - loans (53,096) (56,496) (46,517) Net loans 3,757,977 3,719,374 4,316,045 Accrued interest receivable 29,136 28,182 31,227 Federal Home Loan Bank of Indianapolis stock 28,350 28,350 28,350 Cash surrender value of bank-owned life insurance 43,175 42,864 41,961 Premises and equipment, net 65,720 67,006 69,930 Goodwill 4,687 4,687 4,687 Servicing asset 23,180 23,614 16,736 Other real estate owned 4,121 1,945 1,730 Accrued income and other assets 92,907 90,544 72,619 Total assets $ 5,556,375 $ 5,711,688 $ 6,072,573 Liabilities Noninterest-bearing deposits $ 131,366 $ 149,505 $ 145,166 Interest-bearing deposits 4,700,012 4,832,145 5,153,623 Total deposits 4,831,378 4,981,650 5,298,789 Advances from Federal Home Loan Bank 239,500 239,500 264,500 Subordinated debt 105,626 105,546 105,307 Accrued interest payable 1,594 1,232 1,614 Accrued expenses and other liabilities 14,730 22,806 12,124 Total liabilities 5,192,828 5,350,734 5,682,334 Shareholders' equity Voting common stock 187,545 186,967 186,116 Retained earnings 197,119 195,292 230,690 Accumulated other comprehensive loss (21,117) (21,305) (26,567) Total shareholders' equity 363,547 360,954 390,239 Total liabilities and shareholders' equity $ 5,556,375 $ 5,711,688 $ 6,072,573
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First Internet Bancorp Condensed Consolidated Statements of Income (unaudited) Dollar amounts in thousands, except per share data Three Months Ended Six Months Ended June 30,2026 March 31,2026 June 30,2025 June 30,2026 June 30,2025 Interest income Loans $ 60,693 $ 60,839 $ 66,685 $ 121,532 $ 129,347 Securities - taxable 9,948 9,496 9,062 19,444 17,525 Securities - non-taxable 629 654 654 1,283 1,315 Other earning assets 5,366 4,821 4,485 10,187 9,528 Total interest income 76,636 75,810 80,886 152,446 157,715 Interest expense Deposits 40,320 40,359 46,794 80,679 94,420 Other borrowed funds 3,877 3,853 6,102 7,730 10,209 Total interest expense 44,197 44,212 52,896 88,409 104,629 Net interest income 32,439 31,598 27,990 64,037 53,086 Provision for credit losses 13,415 16,305 13,608 29,720 25,541 Net interest income after provision for creditlosses 19,024 15,293 14,382 34,317 27,545 Noninterest income Service charges and fees 1,112 844 278 1,956 543 Loan servicing revenue 2,853 2,856 1,979 5,709 3,962 Loan servicing asset revaluation (1,579) (1,060) (1,153) (2,639) (2,334) Gain on sale of loans 4,690 7,377 1,673 12,067 10,320 Other 1,609 1,501 2,780 3,110 3,493 Total noninterest income 8,685 11,518 5,557 20,203 15,984 Noninterest expense Salaries and employee benefits 13,570 13,236 10,867 26,806 23,974 Marketing, advertising and promotion 706 615 702 1,321 1,349 Consulting and professional fees 1,372 1,080 936 2,452 2,164 Data processing 774 775 656 1,549 1,291 Loan expenses 2,109 2,179 1,520 4,288 3,051 Premises and equipment 3,718 3,676 3,281 7,394 6,396 Deposit insurance premium 1,611 1,487 1,564 3,098 2,962 Other 2,262 1,979 2,274 4,241 4,170 Total noninterest expense 26,122 25,027 21,800 51,149 45,357 Income (loss) before income taxes 1,587 1,784 (1,861) 3,371 (1,828) Income tax benefit (780) (725) (2,054) (1,505) (2,964) Net income $ 2,367 $ 2,509 $ 193 $ 4,876 $ 1,136 Per common share data Earnings per share - basic $ 0.27 $ 0.29 $ 0.02 $ 0.56 $ 0.13 Earnings per share - diluted $ 0.27 $ 0.29 $ 0.02 $ 0.55 $ 0.13 Dividends declared per share $ 0.06 $ 0.06 $ 0.06 $ 0.12 $ 0.12
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First Internet Bancorp Average Balances and Rates(unaudited) Dollar amounts inthousands Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 AverageBalance Interest /Dividends Yield /Cost AverageBalance Interest /Dividends Yield /Cost AverageBalance Interest /Dividends Yield /Cost Assets Interest-earning assets Loans, including loansheld-for-sale $3,838,432 $ 60,693 6.34 % $3,880,131 $ 60,839 6.36 % $4,407,196 $ 66,685 6.07 % Securities - taxable 974,877 9,948 4.09 % 943,079 9,496 4.08 % 856,070 9,062 4.25 % Securities - non-taxable 73,865 629 3.42 % 79,793 654 3.32 % 78,924 654 3.32 % Other earning assets 561,255 5,366 3.83 % 521,697 4,821 3.75 % 396,829 4,485 4.53 % Total interest-earningassets 5,448,429 76,636 5.64 % 5,424,700 75,810 5.67 % 5,739,019 80,886 5.65 % Allowance for credit losses -loans (57,343) (56,106) (49,073) Noninterest-earning assets 265,264 267,052 234,198 Total assets $5,656,350 $5,635,646 $5,924,144 Liabilities Interest-bearing liabilities Interest-bearing demanddeposits $1,356,003 $ 8,905 2.63 % $1,243,549 $ 8,168 2.66 % $1,226,439 $ 9,767 3.19 % Savings accounts 18,765 39 0.83 % 19,542 41 0.85 % 21,760 46 0.85 % Money market accounts 1,304,538 10,334 3.18 % 1,292,126 10,103 3.17 % 1,187,782 11,087 3.74 % Fintech - brokereddeposits 57,492 487 3.40 % — — — % — — — % Certificates and brokereddeposits 2,047,005 20,555 4.03 % 2,188,972 22,047 4.08 % 2,356,958 25,894 4.41 % Total interest-bearingdeposits 4,783,803 40,320 3.38 % 4,744,189 40,359 3.45 % 4,792,939 46,794 3.92 % Other borrowed funds 348,383 3,877 4.46 % 352,117 3,853 4.44 % 567,575 6,102 4.31 % Total interest-bearingliabilities 5,132,186 44,197 3.45 % 5,096,306 44,212 3.52 % 5,360,514 52,896 3.96 % Noninterest-bearing deposits 134,166 143,305 153,016 Other noninterest-bearingliabilities 19,751 21,759 18,744 Total liabilities 5,286,103 5,261,370 5,532,274 Shareholders' equity 370,247 374,276 391,870 Total liabilities andshareholders' equity $5,656,350 $5,635,646 $5,924,144 Net interest income $ 32,439 $ 31,598 $ 27,990 Interest rate spread 2.19 % 2.15 % 1.69 % Net interest margin 2.39 % 2.36 % 1.96 % Net interest margin - FTE 2.47 % 2.45 % 2.04 % Includes nonaccrual loans On a fully-taxable equivalent (“FTE”) basis assuming a 21% tax rate Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below 1 2,3 1 2 3
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First Internet Bancorp Average Balances and Rates (unaudited) Dollar amounts in thousands Six Months Ended June 30, 2026 June 30, 2025 AverageBalance Interest /Dividends Yield /Cost AverageBalance Interest /Dividends Yield / Cost Assets Interest-earning assets Loans, including loans held-for-sale $3,859,166 $ 121,532 6.35 % $4,325,518 $ 129,347 6.03 % Securities - taxable 959,066 19,444 4.09 % 838,222 17,525 4.22 % Securities - non-taxable 76,813 1,283 3.37 % 80,325 1,315 3.30 % Other earning assets 541,585 10,187 3.79 % 420,921 9,528 4.56 % Total interest-earning assets 5,436,630 152,446 5.65 % 5,664,986 157,715 5.61 % Allowance for credit losses - loans (56,728) (47,378) Noninterest-earning assets 266,152 230,079 Total assets $5,646,054 $5,847,687 Liabilities Interest-bearing liabilities Interest-bearing demand deposits $1,300,087 $ 17,073 2.65 % $1,092,127 $ 16,742 3.09 % Savings accounts 19,151 80 0.84 % 21,167 88 0.84 % Money market accounts 1,298,366 20,437 3.17 % 1,204,695 22,449 3.76 % Fintech - brokered deposits 28,905 487 3.40 % — — — % Certificates and brokered deposits 2,117,596 42,602 4.06 % 2,486,407 55,141 4.47 % Total interest-bearing deposits 4,764,105 80,679 3.42 % 4,804,396 94,420 3.96 % Other borrowed funds 350,240 7,730 4.45 % 484,897 10,209 4.25 % Total interest-bearing liabilities 5,114,345 88,409 3.49 % 5,289,293 104,629 3.99 % Noninterest-bearing deposits 138,710 144,494 Other noninterest-bearing liabilities 20,749 21,948 Total liabilities 5,273,804 5,455,735 Shareholders' equity 372,250 391,952 Total liabilities and shareholders' equity $5,646,054 $5,847,687 Net interest income $ 64,037 $ 53,086 Interest rate spread 2.16 % 1.62 % Net interest margin 2.38 % 1.89 % Net interest margin - FTE 2.46 % 1.97 % Includes nonaccrual loans On a fully-taxable equivalent (“FTE”) basis assuming a 21% tax rate Refer to "Non-GAAP Financial Measures" section above and "Reconciliation of Non-GAAP Financial Measures" below 1 2,3 1 2 3
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First Internet Bancorp Loans and Deposits (unaudited) Dollar amounts in thousands June 30, 2026 March 31, 2026 June 30, 2025 Amount Percent Amount Percent Amount Percent Commercial loans Commercial and industrial $ 212,675 5.6 % $ 225,425 6.0 % $ 174,475 4.0 % Owner-occupied commercial real estate 51,749 1.4 % 48,136 1.3 % 50,096 1.1 % Investor commercial real estate 669,970 17.5 % 598,933 15.9 % 513,411 11.8 % Construction 427,076 11.2 % 449,888 11.9 % 332,658 7.6 % Single tenant lease financing 288,720 7.6 % 254,044 6.7 % 970,042 22.3 % Public finance 445,507 11.7 % 441,734 11.7 % 476,339 10.9 % Healthcare finance 121,287 3.2 % 131,161 3.5 % 160,073 3.7 % Small business lending 435,686 11.4 % 433,964 11.5 % 383,455 8.8 % Franchise finance 357,182 9.4 % 389,249 10.3 % 479,757 11.0 % Total commercial loans 3,009,852 79.0 % 2,972,534 78.8 % 3,540,306 81.2 % Consumer loans Residential mortgage 326,258 8.6 % 338,058 9.0 % 358,922 8.2 % Home equity 14,102 0.4 % 14,219 0.4 % 16,668 0.4 % Trailers 252,325 6.6 % 242,022 6.4 % 228,786 5.2 % Recreational vehicles 143,547 3.8 % 142,442 3.8 % 144,476 3.3 % Other consumer loans 45,916 1.2 % 46,874 1.2 % 48,319 1.1 % Total consumer loans 782,148 20.6 % 783,615 20.8 % 797,171 18.2 % Net deferred loan fees, premiums, discounts andother 19,073 0.4 % 19,721 0.4 % 25,085 0.6 % Total loans $ 3,811,073 100.0 % $ 3,775,870 100.0 % $ 4,362,562 100.0 % June 30, 2026 March 31, 2026 June 30, 2025 Amount Percent Amount Percent Amount Percent Deposits Noninterest-bearing deposits $ 131,366 2.7 % $ 149,505 3.0 % $ 145,166 2.7 % Interest-bearing demand deposits 1,493,178 30.9 % 1,358,028 27.3 % 1,458,123 27.5 % Savings accounts 18,738 0.4 % 20,344 0.4 % 20,902 0.4 % Money market accounts 1,245,591 25.8 % 1,325,382 26.6 % 1,210,960 22.9 % Fintech - brokered deposits 23,344 0.5 % — — % — — % Certificates of deposits 1,683,450 34.8 % 1,869,181 37.5 % 2,146,356 40.5 % Brokered deposits 235,711 4.9 % 259,210 5.2 % 317,282 6.0 % Total deposits $ 4,831,378 100.0 % $ 4,981,650 100.0 % $ 5,298,789 100.0 % Includes carrying value adjustments of $17.3 million, $18.1 million and $21.2 million related to terminated interest rate swaps associated with public finance loans as of June 30, 2026, March 31, 2026 and June 30, 2025, respectively. 1 1
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First Internet Bancorp Reconciliation of Non-GAAP Financial Measures Dollar amounts in thousands, except per share data Three Months Ended Six Months Ended June 30,2026 March 31,2026 June 30,2025 June 30,2026 June 30,2025 Total equity - GAAP $ 363,547 $ 360,954 $ 390,239 $ 363,547 $ 390,239 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $ 358,860 $ 356,267 $ 385,552 $ 358,860 $ 385,552 Total assets - GAAP $ 5,556,375 $ 5,711,688 $ 6,072,573 $ 5,556,375 $ 6,072,573 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Tangible assets $ 5,551,688 $ 5,707,001 $ 6,067,886 $ 5,551,688 $ 6,067,886 Common shares outstanding 8,733,574 8,716,662 8,713,094 8,733,574 8,713,094 Book value per common share $ 41.63 $ 41.41 $ 44.79 $ 41.63 $ 44.79 Effect of goodwill (0.54) (0.54) (0.54) (0.54) (0.54) Tangible book value per common share $ 41.09 $ 40.87 $ 44.25 $ 41.09 $ 44.25 Total shareholders' equity to assets 6.54 % 6.32 % 6.43 % 6.54 % 6.43 % Effect of goodwill (0.08%) (0.08%) (0.08%) (0.08%) (0.08%) Tangible common equity to tangible assets 6.46 % 6.24 % 6.35 % 6.46 % 6.35 % Total average equity - GAAP $ 370,247 $ 374,276 $ 391,870 $ 372,250 $ 391,952 Adjustments: Average goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Average tangible common equity $ 365,560 $ 369,589 $ 387,183 $ 367,563 $ 387,265 Return on average shareholders' equity 2.56% 2.72% 0.20 % 2.64% 0.58 % Effect of goodwill 0.04% 0.03% — % 0.04% 0.01 % Return on average tangible common equity 2.60% 2.75 % 0.20 % 2.68% 0.59 % Total interest income $ 76,636 $ 75,810 $ 80,886 $ 152,446 $ 157,715 Adjustments: Fully-taxable equivalent adjustments 1,142 1,160 1,157 2,302 2,326 Total interest income - FTE $ 77,778 $ 76,970 $ 82,043 $ 154,748 $ 160,041 Net interest income $ 32,439 $ 31,598 $ 27,990 $ 64,037 $ 53,086 Adjustments: Fully-taxable equivalent adjustments 1,142 1,160 1,157 2,302 2,326 Net interest income - FTE $ 33,581 $ 32,758 $ 29,147 $ 66,339 $ 55,412 Net interest margin 2.39 % 2.36 % 1.96 % 2.38 % 1.89 % Effect of fully-taxable equivalent adjustments 0.08 % 0.09 % 0.08 % 0.08 % 0.08 % Net interest margin - FTE 2.47 % 2.45 % 2.04 % 2.46 % 1.97 % Assuming a 21% tax rate 1 1 1 1
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First Internet Bancorp Reconciliation of Non-GAAP Financial Measures Dollar amounts in thousands, except per share data Three Months Ended Six Months Ended June 30,2026 March 31,2026 June 30,2025 June 30,2026 June 30,2025 Net income - GAAP $ 2,367 $ 2,509 $ 193 $ 4,876 $ 1,136 Adjustments: Provision for credit losses 13,415 16,305 13,608 29,720 25,541 Income tax benefit (780) (725) (2,054) (1,505) (2,964) Pre-provision net revenue $ 15,002 $ 18,089 $ 11,747 $ 33,091 $ 23,713 Tangible common equity $ 358,860 $ 356,267 $ 385,552 $ 358,860 $ 385,552 Adjustments: Accumulated other comprehensive loss 21,117 21,305 26,567 21,117 26,567 Adjusted tangible common equity $ 379,977 $ 377,572 $ 412,119 $ 379,977 $ 412,119 Tangible assets $ 5,551,688 $ 5,707,001 $ 6,067,886 $ 5,551,688 $ 6,067,886 Adjustments: Cash in excess of $300 million (110,968) (301,805) (146,361) (110,968) (146,361) Adjusted tangible assets $ 5,440,720 $ 5,405,196 $ 5,921,525 $ 5,440,720 $ 5,921,525 Adjusted tangible common equity $ 379,977 $ 377,572 $ 412,119 $ 379,977 $ 412,119 Adjusted tangible assets 5,440,720 5,405,196 5,921,525 5,440,720 5,921,525 Adjusted tangible common equity to adjustedtangible assets 6.98 % 6.99 % 6.96 % 6.98 % 6.96 % Nonperforming loans to total loans 1.58 % 1.63 % 1.00 % 1.58 % 1.00 % Adjustments: Fully guaranteed balances (0.51%) (0.41%) (0.22%) (0.51%) (0.22%) Adjusted nonperforming loans to total loans 1.07 % 1.22 % 0.78 % 1.07 % 0.78 % Allowance for credit losses - loans tononperforming loans 88.39 % 91.72 % 106.83 % 88.39 % 106.83 % Adjustments: Fully guaranteed balances 41.45 % 30.73 % 29.03 % 41.45 % 29.03 % Adjusted allowance for credit losses - loans tononperforming loans 129.84 % 122.45 % 135.86 % 129.84 % 135.86 % Assuming a 21% tax rate 1 1