First Internet Bancorp - Understand $inbk stock

$INBK Market Cap: $361.9 Million

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$214.1M

TTM

Gross Margin

Net Earnings

$22.09M

TTM

Current Assets

Current Liabilities

$20.35M

Q3 2024

Current Ratio

Total Assets

$5.823B

Q3 2024

Total Liabilities

$5.438B

Q3 2024

Book Value

$385.1M

Q3 2024

Cash

$712.5M

Q3 2024

P/E

16.38

Nov 29, 2024 EST

Free Cash Flow

$28.96M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$239.4M	$156.9M	$133.9M	$136.9M	$147.4M	$115.5M	$84.70M	$58.90M	$41.45M	$31.22M	$25.54M	$24.37M
YoY Change	52.6%	17.2%	-2.17%	-7.16%	27.67%	36.33%	43.8%	42.11%	32.78%	22.24%	4.77%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	$239.4M	$156.9M	$133.9M	$136.9M	$147.4M	$115.5M	$84.70M	$58.90M	$41.45M	$31.22M	$25.54M	$24.37M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$5.748M	$8.729M	$8.775M	$7.831M	$6.926M	$5.667M	$5.299M	$3.799M	$1.942M	$1.904M	$2.257M	$2.862M	$250.0K	$360.0K
YoY Change	-34.15%	-0.52%	12.05%	13.07%	22.22%	6.94%	39.48%	95.62%	2.0%	-15.64%	-21.14%	1044.8%	-30.56%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Interest Expense	$164.5M	$59.82M	$47.33M	$72.32M	$84.45M	$53.20M	$30.72M	$19.21M	$10.69M	$8.928M	$8.088M	$8.532M
YoY Change	175.08%	26.39%	-34.56%	-14.36%	58.73%	73.21%	59.89%	79.63%	19.78%	10.39%	-5.2%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Pretax Income	$4.940M	$40.10M	$56.57M	$33.90M	$27.16M	$23.95M	$22.93M	$17.99M	$13.67M	$6.450M	$6.159M	$7.800M	$4.000M	$6.700M
YoY Change	-87.68%	-29.12%	66.89%	24.83%	13.38%	4.47%	27.48%	31.61%	111.86%	4.72%	-21.04%	95.0%	-40.3%	-255.81%
Income Tax	-$3.477M	$4.559M	$8.458M	$4.445M	$1.917M	$2.052M	$7.702M	$5.911M	$4.736M	$2.126M	$1.566M	$2.194M	$800.0K	$1.700M
% Of Pretax Income	-70.38%	11.37%	14.95%	13.11%	7.06%	8.57%	33.59%	32.87%	34.66%	32.96%	25.43%	28.13%	20.0%	25.37%
Net Earnings	$8.417M	$35.54M	$48.11M	$29.45M	$25.24M	$21.90M	$15.23M	$12.07M	$8.929M	$4.324M	$4.593M	$5.606M	$3.200M	$5.000M
YoY Change	-76.32%	-26.13%	63.36%	16.7%	15.25%	43.83%	26.11%	35.22%	106.5%	-5.86%	-18.07%	75.19%	-36.0%	-338.1%
Net Earnings / Revenue	3.52%	22.65%	35.94%	21.52%	17.12%	18.97%	17.98%	20.5%	21.54%	13.85%	17.99%	23.0%
Basic Earnings Per Share	$0.95	$3.73	$4.85	$2.99	$2.51	$2.31	$2.14	$2.32	$1.97	$0.96	$1.51	$1.95
Diluted Earnings Per Share	$0.95	$3.704M	$4.82	$2.99	$2.51	$2.30	$2.13	$2.30	$1.96	$0.96	$1.51	$1.95	$1.103M	$1.786M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment	$73.46M	$72.71M	$59.80M	$37.60M	$14.60M	$10.70M	$10.10M	$10.00M	$8.500M	$7.100M	$7.100M	$800.0K	$800.0K	$900.0K
YoY Change	1.03%	21.59%	59.04%	157.53%	36.45%	5.94%	1.0%	17.65%	19.72%	0.0%	787.5%	0.0%	-11.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
Total Assets	$5.168B	$4.543B	$4.211B	$4.246B	$4.100B	$3.542B	$2.768B	$1.854B	$1.270B	$970.5M	$802.3M	$636.4M	$585.4M	$503.9M
YoY Change
Accounts Payable	$3.848M	$2.913M	$2.000M	$1.400M	$3.800M	$1.100M	$300.0K	$100.0K	$100.0K	$100.0K	$100.0K	$100.0K	$100.0K	$100.0K
YoY Change	32.1%	45.65%	42.86%	-63.16%	245.45%	266.67%	200.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Accrued Expenses	$14.18M	$14.51M	$30.50M	$48.40M	$53.00M	$21.50M	$11.40M	$10.90M	$5.700M	$5.300M	$3.700M	$3.500M	$2.700M	$1.700M
YoY Change	-2.26%	-52.42%	-36.98%	-8.68%	146.51%	88.6%	4.59%	91.23%	7.55%	43.24%	5.71%	29.63%	58.82%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$18.03M	$17.43M	$32.50M	$49.80M	$56.80M	$22.60M	$11.70M	$11.00M	$5.800M	$5.400M	$3.800M	$3.600M	$2.800M	$1.800M
YoY Change	3.48%	-46.38%	-34.74%	-12.32%	151.33%	93.16%	6.36%	89.66%	7.41%	42.11%	5.56%	28.57%	55.56%
Long-Term Debt	$104.8M	$104.5M	$104.2M	$79.60M	$69.50M	$33.90M	$36.70M	$36.60M	$12.70M	$2.900M	$2.800M	$0.00	$0.00	$0.00
YoY Change	0.29%	0.32%	30.9%	14.53%	105.01%	-7.63%	0.27%	188.19%	337.93%	3.57%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$104.8M	$104.5M	$104.2M	$79.60M	$69.50M	$33.90M	$36.70M	$36.60M	$12.70M	$2.900M	$2.800M	$0.00	$0.00	$0.00
YoY Change	0.29%	0.32%	30.9%	14.53%	105.01%	-7.63%	0.27%	188.19%	337.93%	3.57%
Total Liabilities	$4.805B	$4.178B	$3.831B	$3.915B	$3.795B	$3.253B	$2.544B	$1.700B	$1.166B	$873.7M	$711.4M	$575.0M	$530.0M	$455.0M
YoY Change	15.0%	9.07%	-2.16%	3.16%	16.67%	27.89%	49.59%	45.89%	33.4%	22.81%	23.72%	8.49%	16.48%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Basic Shares Outstanding	8.838M shares	9.531M shares	9.918M shares	9.840M shares	10.04M shares	9.491M shares	7.119M shares	5.211M shares	4.529M shares	4.497M shares	3.042M shares	2.869M shares
Diluted Shares Outstanding	8.859M shares	9.595M shares	9.976M shares	9.842M shares	10.04M shares	9.509M shares	7.149M shares	5.239M shares	4.554M shares	4.508M shares	3.050M shares	2.869M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $361.88 Million

About First Internet Bancorp

First Internet Bancorp engages in the provision of online commercial and retail banking products and services. The company is headquartered in Fishers, Indiana and currently employs 287 full-time employees. The company went IPO on 2013-02-22. The Bank offers a range of commercial, small business, consumer and municipal banking products and services. The Bank conducts its consumer and small business deposit operations primarily through digital channels on a nationwide basis and have no traditional branch offices. Its consumer lending products are primarily originated on a nationwide basis through relationships with dealerships and financing partners. The Bank's commercial banking products and services are delivered through a relationship banking model and include commercial and industrial (C&I) banking, construction and investor commercial real estate, single tenant lease financing, public finance, healthcare finance, small business lending, commercial deposits, and treasury management.

Industry: State Commercial Banks Peers: AMERICAN NATIONAL BANKSHARES INC. Capital Bancorp Inc CIVISTA BANCSHARES, INC. FARMERS & MERCHANTS BANCORP INC SOUTHERN FIRST BANCSHARES INC MACATAWA BANK CORP PNC FINANCIAL SERVICES GROUP, INC.