First Internet Bancorp (INBK) SEC Filings & Earnings Calls

High cost of new debt at 8.0% fixed rate; potential interest rate risk if floating rate period begins with elevated SOFR

“8.0% fixed-to-floating rate subordinated notes due 2036; from September 15, 2031, interest rate will be SOFR plus 373.5 bps”

Elevated credit losses in franchise finance and small business lending

“Net charge-offs of $16.9 million were recognized during the second quarter 2026, resulting in net charge-offs to average loans of 1.77%.” · word for word

Concentration in run-off portfolios

“The Company made the strategic decision to allow the franchise finance and healthcare finance portfolios to run off and is not originating new loans in these segments.” · word for word

Uninsured deposit concentration

“Uninsured deposit balances represented 37% of total deposits at June 30, 2026, up from 33% at December 31, 2025.” · word for word

Elevated net charge-offs from franchise finance loans partially offset by improvement in small business lending.

“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.” · word for word

Deposit outflows with total deposits down 3% QoQ, though managed via fintech deposits and off-balance sheet network.

“Total deposits of $4.8 billion, down $150.3 million, or 3%, from the first quarter of 2026.” · word for word

Elevated credit losses in small business and franchise finance portfolios

“Net charge-offs of $15.8 million were recognized during the first quarter 2026, resulting in net charge-offs to average loans of 1.65%, compared to net charge-offs of $9.7 million, or 0.92% of average loans, for the first quarter 2025.” · word for word

Nonperforming loans increasing

“Total nonperforming loans increased $3.1 million, or 5.2%, to $61.6 million as of March 31, 2026 compared to $58.5 million as of December 31, 2025” · word for word

Uninsured deposit concentration rising

“Uninsured deposit balances represented 39% of total deposits at March 31, 2026, up from 33% at December 31, 2025.” · word for word

Elevated provision for credit losses ($16.3M) and net charge-offs (1.65% of avg loans) indicate ongoing credit stress, though improving trends in SBA and franchise.

“Provision for credit losses of $16.3 million, up $4.3 million, or 36.1%, from the fourth quarter of 2025; Net charge-offs to average loans of 1.65%, slightly improved from 1.68% in the fourth quarter of 2025.” · word for word

Nonperforming loans increased to 1.63% of total loans, driven by fully-guaranteed SBA and accruing past-due loans.

“Nonperforming loans to total loans of 1.63%; Increase in NPLs consisted primarily of fully-guaranteed SBA 7(a) balances and accruing loans past due 90 days or more, partially offset by lower nonaccrual franchise finance loans.”

Negative net income due to balance sheet restructuring

“the Company did not report positive net income for 2025.” · word for word

Concentration in fintech partnerships

“Sustained growth in our fintech partnerships business, with year-over-year total revenue growing by 135%.” · word for word

Credit quality deterioration in small business and franchise finance

“Nonperforming loans doubled; net charge-offs surged to $61M; provision $71.9M.”

Loan portfolio shrinkage

“Total loans decreased 10.2% due to sale of single tenant lease financing and run-off.”

Uninsured deposit concentration

“Uninsured deposit balances represented 33% of total deposits at December 31, 2025, up from 25%.” · word for word

Credit challenges in SBA and franchise finance portfolios; elevated provision expected in H1 2026; NPLs increased

“While ongoing proactive and prudent credit-related actions continued to yield notable progress in resolving problem loans, the Company expects the provision to remain elevated in the first half of 2026 and then gradually improve in the second half of the year.” · word for word

Elevated credit losses in small business and franchise finance

“Net charge-offs of $21.0 million were recognized during the third quarter 2025, resulting in net charge-offs to average loans of 1.89%, compared to net charge-offs of $1.5 million, or 0.15% of average loans, for the third quarter 2024.” · word for word

Regulatory capital pressure from loan sale loss

“While the loss on the transaction negatively impacted shareholders’ equity and regulatory capital, the transaction significantly reduced risk-weighted assets, resulting in a net positive effect on regulatory capital ratios.” · word for word

High uninsured deposit ratio

“Uninsured deposit balances represented 33% of total deposits at September 30, 2025, up from 25% at December 31, 2024.” · word for word