First Internet Bancorp · NASDAQ:INBK
First Internet Bancorp — Q3 2026 Earnings Presentation
38 slides from First Internet Bancorp's earnings presentation, Oct 29, 2026
Slide 1: Investor Presentation
NASDAQ: INBK Investor Presentation October 2026
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Forward-Looking Statements & Non-GAAP Financial Measures This presentation 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
Slide 3: First Internet Bancorp At-A-Glance
First Internet Bancorp At-A-Glance • Digital Banking Pioneer - First state-chartered, FDIC-insured As of 9/30/26 institution to operate entirely online, reimagining traditional banking over 25 years ago $5.9B $3.9B • Business Model Innovation - Highly scalable branchless TOTAL ASSETS TOTAL LOANS ban
Slide 4: Our Founding Thesis
Our Founding Thesis • Founded in 1999, based on a revolutionary idea that challenged the entire banking industry - create America's first state-chartered, FDIC-insured institution to operate entirely online • 25+ Year Legacy: From kitchen table startup to industry transformer, maintaining the same e
Slide 5: Our Business Model
Our Business Model Branchless model attracts a nationwide deposit base with low acquisition costs, supplemented by BaaS partnerships – deployed into scalable specialty lending channels 5
Slide 6: Multiple Asset Generation Channels
Multiple Asset Generation Channels $ in millions As of 09/30/26 Strategic Focus • Specialized areas of lending Construction & Investor CRE $ 1,154 • Scalable, nationwide platforms with growth potential Small Business Lending 439 Core • Optimize the mix of interest-earning assets C&I / Emerging Verti
Slide 7: Digital Banking & Fintech Partnerships Drive Growth
Digital Banking & Fintech Partnerships Drive Growth Digital Banking • $2.3B in digital deposits BaaS / Fintech • Program sponsorship: $4.7B Total Fintech Deposits deposits, payments, $2.9B Held Off-Balance Sheet • Consumer and SMB cards/BIN and lending deposits sourced nationally • Empowers partners
Slide 8: Key Investment Highlights
Key Investment Highlights • Digital Banking - America's first • Strong Financial Momentum - online bank with a 25+ year Continuous growth in net interest branchless model delivering superior income with expanding net interest cost structure and geographic reach margin and strong loan originations Fo
Slide 9: Experienced Leadership
Experienced Leadership DAVID NICOLE KENNETH B. BECKER S. LORCH J. LOVIK Chairman President, EVP & CFO and CEO COO and Corporate Secretary • Founder of the first state-chartered, • Appointed president in July 2021 • Brings 30+ years of financial FDIC-insured bank to operate services experience entire
Slide 10: Financial Review
Financial Review
Slide 11: Third Quarter 2026 Highlights
Third Quarter 2026 Highlights • Net income of $4.8 million and adjusted net income of $5.1 million1, both up significantly over 2Q26 and 3Q25 Earnings • Diluted EPS of $0.54 and adjusted diluted EPS of $0.571, both up significantly over 2Q26 and 3Q25 • Pre-tax non-recurring severance costs of $0.4 m
Slide 12: Adjusted Total Revenue and Pre-Provision, Net Revenue
Adjusted Total Revenue1 and Pre-Provision, Net Revenue1 Adjusted Total Revenue Adjusted Pre-Provision, Net Revenue $ in millions $43.5 $42.1 $43.1 $41.1 $43.9 14% Increase in Adjusted PPNR vs. 2Q26 $18.1 $17.9 $18.1 $17.1 7% $15.0 Increase in Adjusted Total Revenue vs. 2Q26 3Q25 4Q25 1Q26 2Q26 3Q26
Slide 13: Loan Portfolio Overview
Loan Portfolio Overview Total Loan Portfolio and Average Yield Total Loans HFI Total Loans HFS Average Yield $ in millions $4,226 Portfolio Composition $55 $3,862 $3,856 $3,899 $4,171 0% Commercial & Industrial $22 $35 $3,521 $109 $3,840 $3,864 $22 $3,747 6% Construction & Investor CRE 12% $3,499 Si
Slide 14: Diversified Deposit Base
Diversified Deposit Base Total Deposits and Cost of IBDs Total Deposits Cost of IBDs $5,153 $ in millions $4,933 $4,840 Portfolio Composition $4,067 Consumer 4% 4% $3,441 Small Business 4.24% 8% 3.87% 31% 3.83% Fintech 3.38% Commercial Public Funds 35% Brokered 17% 1.38% 2022 2023 2024 2025 3Q26 Not
Slide 15: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin Fully-Taxable-Equivalent Net Interest Income (“FTE NII”)1 Loan Yield and Cost of IBDs and Net Interest Margin (“FTE NIM”)1 Cost of IBDs Loan Yield FTE NII FTE NIM $ in millions 6.39% 6.42% 6.18% 6.36% 6.34% $35.9 $33.6 3.87% 3.68% $32.8 3.45% 3.38% 3.32% $
Slide 16: Noninterest Income Trends
Noninterest Income Trends Adjusted Noninterest Income1 SBA gain on sale Net servicing revenue $ in millions Fintech Other $13.2 Key Highlights $1.1 $11.8 $11.5 $0.9 $1.2 • SBA 7(a) loan sale volume $0.7 $0.9 up 11% from 2Q26 $10.6 $1.1 $1.5 $9.2 $8.7 $0.9 $0.4 $1.8 $0.8 $8.6 $2.1 • SBA gain on sale
Slide 17: Noninterest Expense Trends
Noninterest Expense Trends Noninterest Expense 1 Noninterest Expense Nonrecurring Expense Adjusted NIE to Average Assets $ in millions Key Highlights $27.3 $25.5 $26.1 $0.4 $25.0 • Increase in expenses from $24.2 $26.9 2Q26 due primarily to higher compensation and employee benefits expense • Pre-tax
Slide 18: Credit Quality Overview
Credit Quality Overview Nonperforming Assets Net Charge-offs $67.5 NCOs NCOs/Average Loans $ in millions $63.7 $64.6 $61.3 $ in millions $55.2 Govt. Guaranteed $21.0 $19.2 $13.6 $15.5 $19.2 NPAs $16.9 $10.5 $16.0 $15.8 $47.7 $48.2 $48.3 NPAs ex. Govt. $44.7 $45.4 Guaranteed 1.12% 1.16% 1.15% 1.10% $
Slide 19: Positive Credit Trends
Positive Credit Trends Nonperforming Loans $61.6 $63.1 $ in millions $60.1 $58.5 Govt. Guaranteed • Net charge-offs down 53% from 2Q26, driven by declines $53.3 NPLs in franchise finance and small business lending $15.5 $19.2 $13.6 $19.2 $10.6 $0.7 90DPD & Accruing • Total delinquencies 30D+PD down
Slide 20: Capital and Sources of Liquidity
Capital and Sources of Liquidity Liquidity Sources Tangible Book Value Per Share1 $ in millions $43.77 $20 $18 $39.74 $41.43 $40.87 $40.04 $38.51 $33.29 $653 $652 $5,169 $958 2020 2021 2022 2023 2024 2025 3Q26 Capital Ratios as of September 30, 20262 Company Bank $2,867 Total Shareholder’s equity to
Slide 21: Fourth Quarter 2026 Outlook
Fourth Quarter 2026 Outlook EPS • Diluted earnings per share of $1.02 to $1.07 • FTE net interest margin of 2.75% to 2.80%, driven by ongoing loan portfolio optimization and stable NII and NIM deposit costs (assumes additional 25 bp increase in Fed Funds rate in December) • FTE net interest income o
Slide 22: Appendix
Appendix
Slide 23: Construction and Investor Commercial Real Estate
Construction and Investor Commercial Real Estate Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Major Industry 2% Investor Multifamily/Mixed Commercial 18% Use 16% Real Estate Industrial Commercial 33% 6% 9% 40% Warehouse 46% Construction/ Hospitality 7% Development 65% 10% 17% Resid
Slide 24: Small Business Lending
Small Business Lending Managed SBA 7(a) Loans Portfolio Mix by State Portfolio Mix by Major Industry Dollar in millions Services $35 19% Retained 24% $439 31% Balance Construction 45% 13% $1,691 Servicing Portfolio Retail Trade 9% 20% Held for Sale 10% $1,217 Manufacturing 6% 8% 15% Other FL TX CA M
Slide 25: C&I and Owner-Occupied Commercial Real Estate
C&I and Owner-Occupied Commercial Real Estate Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Major Industry Wealth Advisory Loans Services 7% C&I - Term 27% Construction Loans 14% 26% 36% 42% Owner Manufacturing Occupied CRE 52% C&I - Lines of 18% 4% Real Estate and 11% Credit 4% Ren
Slide 26: Public Finance
Public Finance Portfolio Mix by Repayment Borrower Mix by Credit Rating Portfolio Mix by State Source IN General Obligation 17% OH 29% 30% Essential Use 32% 38% 4% OK Equipment Loans 4% Lease Rental Revenue 5% MO 7% 6% 64% Water & Sewer 13% IA Revenue 9% 12% 27% Private Higher 1% Other 2% Education
Slide 27: Single Tenant Lease Financing
Single Tenant Lease Financing Portfolio Mix by Major Vertical Portfolio Mix by Major Tenant Portfolio Mix by State Auto-Related Stores Cobblestone 5% FL 5% Auto Spa Quick Serve 5% Main Street 18% 27% Restaurants 5% Auto TX Convenience 45% 4% Whistle Express Stores/Filling Stations Car Wash NC 51% 14
Slide 28: Specialty Consumer
Specialty Consumer Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Credit Score at Origination 14% 3% 800-850 10% 13% Trailers 10% 35% 740-799 6% Recreational Vehicles 33% 62% 4% 57% 4% 700-739 49% Other Consumer 670-699 TX CA FL NC AZ Other • $445 million of combined balances as of •
Slide 29: Franchise Finance
Franchise Finance Portfolio by Borrower Use Portfolio Mix by State Portfolio Mix by Brand Limited-Service My Salon Suite Restaurants 12% 8% Scooter's Coffee Beauty Salons 7% 19% 10% 7% 37% Urban Air Adventure Snacks and 7% 6% Park Nonalcoholic 16% 61% 5% 5% 67% Goldfish Swim School Beverages 5% Indo
Slide 30: Residential Mortgage
Residential Mortgage Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Region 1% 2% 1% 2% 3% 1% 2% 9% Single Family Midwest 4% Residential 4% 12% 15% West Coast Home Equity – LOC Northeast/Mid-Atl. Home Equity – Closed 74% End 75% Southeast SFR Construction to 95% Permanent Southwest IN
Slide 31: Healthcare Finance
Healthcare Finance Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Borrower 4% Dentists Practice Refi or 5% 10% 31% Acquisition 43% 24% Veterinarians Owner Occupied CRE 12% 71% 4%5% 5% 86% Other Project CA TX FL NY AZ Other • $112 million of balances as of September 30, • Strong histo
Slide 32: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except share and per share data 2021 2022 2023 2024 2025 3Q26 Total equity - GAAP $380,338 $364,974 $362,795 $384,063 $359,767 $354,408 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $37
Slide 33: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except share and per share data 3Q25 4Q25 1Q26 2Q26 3Q26 Total equity - GAAP $352,168 $359,767 $360,954 $363,547 $354,408 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $347,481 $355,080 $356,26
Slide 34: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 3Q25 4Q25 1Q26 2Q26 3Q26 Total interest income $84,388 $78,054 $75,810 $76,636 $80,031 Adjustments: Fully-taxable equivalent adjustments 1 1,158 1,161 1,160 1,142 1,116 Total interest income - FTE $85,546 $79,215 $76,970 $77,778 $81,
Slide 35: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 3Q25 4Q25 1Q26 2Q26 3Q26 Pre-provision net revenue (loss) ($19,754) $17,486 $18,089 $15,002 $16,684 Adjustments: Loss on sale of loans 37,823 411 - - - Employee severance expense - - - - 371 Adjusted pre-provision net revenue $18,069
Slide 36: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 3Q25 4Q25 1Q26 2Q26 3Q26 Income tax (benefit) provision - GAAP ($12,950) $213 ($725) ($780) $236 Adjustments:1 Loss on sale of loans 8,699 86 - - - Employee severance expense - - - - 78 Adjusted income tax (benefit) provision ($4,251
Slide 37: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 3Q26 Tangible common equity $349,721 Adjustments: Accumulated other comprehensive loss 35,056 Adjusted tangible common equity $384,777 Tangible assets $5,883,316 Adjustments: Cash in excess of $300 million (352,274) Adjusted tangible
Slide 38: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 3Q25 4Q25 1Q26 2Q26 3Q26 Nonperforming loans to total loans 1.47% 1.56% 1.63% 1.58% 1.63% Adjustments: Fully-guaranteed balances (0.29%) (0.36%) (0.41%) (0.51%) (0.49%) Adjusted nonperforming loans to total loans 1.18% 1.20% 1.22% 1.07% 1.14% Allowance f
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