Slide 1: Investor Presentation: Financial Results Fourth Quarter 2025
NASDAQ: INBK Investor Presentation FINANCIAL RESULTS FOURTH QUARTER 2025 January 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: 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 4: Strategic Update
Strategic Update LENDING DEPOSITS BaaS / FINTECH • Strong originations throughout • Commercial, small business and • As a sponsor bank, we support 2025 in construction / investor consumer deposit relationships deposit programs, payment CRE, C&I and small business sourced nationally processing, and l
Slide 5: First Internet Bancorp At-A-Glance
First Internet Bancorp At-A-Glance • Digital Banking Pioneer - First state-chartered, FDIC-insured As of 12/31/25 institution to operate entirely online, reimagining traditional banking over 25 years ago $5.6B $3.7B • 25+ Years of Digital Banking - Quarter-century track record TOTAL ASSETS TOTAL LOA
Slide 6: 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 6
Slide 7: Multiple Asset Generation Channels
Multiple Asset Generation Channels $ in millions As of 12/31/25 Strategic Focus • Specialized areas of lending Construction & Investor CRE $ 1,020 • Scalable, nationwide platforms with growth Core Small Business Lending 430 potential Lending • Optimize the mix of interest-earning assets C&I / Emergi
Slide 8: Key Investment Highlights
Key Investment Highlights • Digital Banking - America's first • Disciplined credit underwriting – online bank with a 25+ year Historically strong credit quality branchless model delivering superior through prudent underwriting and cost structure and geographic reach proactive portfolio management 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: Fourth Quarter 2025 Highlights
Fourth Quarter 2025 Highlights • Net income of $5.3 million and diluted EPS of $0.60 Earnings • Adjusted net income of $5.6 million1 and adjusted diluted EPS of $0.641 • 4Q25 results included a pre-tax loss of $0.4 million on add’l sale of STL loans related to large sale in 3Q25 • Net interest incom
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 66% $ in millions $43.5 $42.1 Increase in $34.8 $35.5 Adjusted PPNR $33.5 vs. 4Q24 $18.1 $17.9 21% Increase in $12.0 Adjusted Total $11.7 $10.8 Revenue vs. 4Q24 4Q24 1Q25 2Q25 3Q25 4Q25
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 $4,171 1% Commercial & Industrial $22 $109 $3,521 $3,840 7% $22 $3,747 11% Construction & Investor CRE $3,499 $2,936 Single Tenant
Slide 14: Diversified Deposit Base
Diversified Deposit Base Total Deposits and Cost of IBDs Total Deposits Cost of IBDs $ in millions $4,933 $4,840 Portfolio Composition $4,067 Consumer 4% $3,441 6% Small Business $3,179 4.24% 3.87% 10% 3.83% Fintech 42% Commercial 18% Public Funds Brokered 1.38% 20% 0.96% 2021 2022 2023 2024 2025 Yo
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 5.93% 5.99% 6.07% 6.18% 6.39% $ in millions $31.5 $31.5 $29.1 $26.3 4.13% 4.01% 3.92% 3.87% 3
Slide 16: Noninterest Income Trends
Noninterest Income Trends Adjusted Noninterest Income1 SBA gain on sale Net servicing revenue Fintech Other Average SBA net premium $13.2 Key Highlights $ in millions $1.1 $11.8 $11.2 $0.8 $10.4 $0.7 $1.4 • SBA 7(a) loan sale volume $1.0 $0.3 $0.5 $0.9 remained strong despite $10.6 $1.4 $0.5 $0.9 U.
Slide 17: Noninterest Expense Trends
Noninterest Expense Trends Noninterest Expense Noninterest Expense NIE to Average Assets $ in millions $25.5 Key Highlights $24.2 • Decline in expenses from $24.0 3Q25 due primarily to lower $23.6 incentive compensation • Low NIE / average assets highlights efficient business model $21.8 • FY 2025 e
Slide 18: Credit Quality Overview
Credit Quality Overview Nonperforming Assets Net Charge-offs $61.3 NCOs NCOs/Average Loans $ in millions $55.2 $13.6 Govt. Guaranteed $ in millions $21.0 $45.5 $10.5 NPAs $47.7 $16.0 $35.9 $9.3 $44.7 NPAs ex. Govt. $14.3 1.10% Guaranteed $28.9 $5.2 $36.2 0.98% $9.4 $9.7 $30.7 NPAs / Total Assets 1.8
Slide 19: Capital and Sources of Liquidity
Capital and Sources of Liquidity Liquidity Sources Tangible Book Value Per Share $ in millions $43.77 $39.74 $41.43 $40.87 $31 $18 $38.51 $33.29 $30.82 $457 $815 2019 2020 2021 2022 2023 2024 2025 $3,269 Capital Ratios as of December 31, 2025 $1,126 Company Bank $823 Total Shareholder’s equity to As
Slide 20: 2026 Outlook
2026 Outlook • Continued loan growth in the range of 15% to 17%, driven by strong pipelines across our commercial Loan Growth lending verticals • FTE net interest margin expansion, reaching 2.75% to 2.80% by the fourth quarter of 2026, driven by NII and NIM ongoing deposit repricing and optimized as
Slide 21: Appendix
Appendix
Slide 22: 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 3% Investor Multifamily/Mixed Commercial 13% Use 20% Real Estate Industrial 5% Commercial 44% Warehouse 34% 6% 47% Construction/ Hospitality 16% Development 7% Residential 6
Slide 23: Small Business Lending
Small Business Lending Managed SBA 7(a) Loans Portfolio Mix by State Portfolio Mix by Major Industry Dollar in millions Services $96 19% Retained 22% $430 Balance 33% Construction 45% 13% $1,647 Servicing Portfolio Retail Trade 20% Held for Sale 9% 10% $1,121 Manufacturing 6% 8% 15% Other FL TX CA M
Slide 24: 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 Manufacturing C&I - Term Loans 19% 15% Services 31% 30% C&I - Lines of 13% Construction Credit 54% 55% Real Estate and 27% 5% 8% 18% Rental and Leasing Owner 7% 5% Health Care
Slide 25: Public Finance
Public Finance Portfolio Mix by Repayment Borrower Mix by Credit Rating Portfolio Mix by State Source IN General Obligation 18% OK 24% Lease Rental Revenue 34% 35% 32% 4% IA 4% Essential Use 7% MO 5% Equipment Loans 63% Water & Sewer 10% 6% OH Revenue 13% 12% 2% 29% Private Higher 2% Other Education
Slide 26: 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 6% Auto Spa Florida 5% Quick Serve 5% 7-Eleven 17% Restaurants 32% 35% 4% Texas Convenience 4% Tidal Wave Stores/Filling Stations Auto Spa 14% Arkansas 5
Slide 27: Specialty Consumer
Specialty Consumer Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Credit Score at Origination Trailers 14% 3% 800-850 11% 13% 9% 35% 740-799 6% Recreational Vehicles 63% 4% 34% 55% 4% 700-739 49% 670-699 Other Consumer TX CA FL NC AZ Other • $425 million of combined balances as of •
Slide 28: Franchise Finance
Franchise Finance Portfolio by Borrower Use Portfolio Mix by State Portfolio Mix by Brand Limited-Service Urban Air Adventure Restaurants Park 13% 9% My Salon Suite Indoor Recreation 18% 7% 12% 6% 38% Scooter's Coffee Beauty Salons 6% 7% 16% 59% 5% 5% Goldfish Swim School 67% Snacks and 4% Nonalcoho
Slide 29: Residential Mortgage
Residential Mortgage Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Region Single Family 1% 2% 1% 3% 1% 2% Residential 2% 10% Midwest 5% 4% Home Equity – LOC 12% West Coast 15% Southeast Home Equity – Closed 73% 74% End Northeast/Mid-Atl. 95% SFR Construction to Southwest IN CA NY FL
Slide 30: Healthcare Finance
Healthcare Finance Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Borrower Practice Refi or 4% Acquisition 5% 10% Dentists 32% 42% 21% Owner Occupied CRE Veterinarians 11% 74% 5% 5% 5% 86% Other Project CA TX FL NY AZ Other • $139 million of balances as of December 31, • Strong histo
Slide 31: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except for per share data 2019 2020 2021 2022 2023 2024 2025 Total equity - GAAP $304,913 $330,944 $380,338 $364,974 $362,795 $384,063 $359,767 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) (4,687) (4,687) Tangible c
Slide 32: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 4Q24 1Q25 2Q25 3Q25 4Q25 Total equity - GAAP $384,063 $387,747 $390,239 $352,168 $359,767 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $379,376 $383,060 $385,552 $347,481 $355,080 Total assets - GAAP $5,737,859 $5,
Slide 33: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 4Q24 1Q25 2Q25 3Q25 4Q25 Total interest income $77,771 $76,829 $80,886 $84,388 $78,054 Adjustments: Fully-taxable equivalent adjustments 1 1,152 1,169 1,157 1,158 1,161 Total interest income - FTE $78,923 $77,998 $82,043 $85,546 $79,215 Net interest inco
Slide 34: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except for per share data 4Q24 1Q25 2Q25 3Q25 4Q25 Total revenue - GAAP $39,487 $35,523 $33,547 $5,705 $41,697 Adjustments: Loss on sale of loans - - - 37,823 411 Gain on prepayment of FHLB advance (1,829) - - - - Gain on terminatio
Slide 35: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except for per share data 4Q24 1Q25 2Q25 3Q25 4Q25 Income (loss) before income taxes - GAAP $8,329 $34 ($1,861) ($54,543) $5,502 Adjustments: Loss on sale of loans - - - 37,823 411 Gain on prepayment of FHLB advance (1,829) - - - -
Slide 36: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except for per share data 4Q24 1Q25 2Q25 3Q25 4Q25 Diluted average common shares outstanding 8,788,793 8,784,970 8,760,374 8,742,052 8,769,456 Diluted earnings per share - GAAP $ 0.83 $ 0.11 $ 0.02 $ (4.76) $ 0.60 Adjustments: Effec
Slide 37: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 4Q25 Tangible common equity $355,080 Adjustments: Accumulated other comprehensive loss 20,130 Adjusted tangible common equity $375,210 Tangible assets $5,566,960 Adjustments: Cash in excess of $300 million (156,777) Adjusted tangible