First Internet Bancorp · NASDAQ:INBK

First Internet Bancorp — Corporate Update (September 2025)

10 slides from First Internet Bancorp's corporate update, Sep 10, 2025

  1. Slide 1: Loan Sale and Balance Sheet Restructuring Supplemental Materials

    Loan Sale and Balance Sheet Restructuring Supplemental Materials September 10, 2025 Exhibit 99.2

  2. Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures

    Forward-Looking Statements & Non-GAAP Financial Measures These supplemental materials contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include statements concerning future events and expectat

  3. Slide 3: Overview of Balance Sheet Restructuring

    Loan Sale and Balance Sheet Restructuring 3 Overview of Balance Sheet Restructuring ▪ Entered into an agreement with Blackstone (NYSE: BX) to sell up to $869 million of performing single tenant lease financing loans – Gross coupon of 5.04% and WAM of 4.4 years ▪ Anticipated sale price of approximate

  4. Slide 4: Capital

    Capital ▪ Reduction in risk weighted assets offsets capital loss from transaction, leading to regulatory capital ratio growth ▪ Managing deposit balances expected to offset impact to tangible common equity ratio with opportunity to further reduce overall balance sheet 4 1 See Reconciliation of Non-G

  5. Slide 5: Loan Portfolio

    Loan Portfolio 5 Total Loans – $3.5B Pro FormaTotal Loans – $4.3B as of 6/30/2025 Variable/Fixed Loans Portfolio Yield CRE/Total Capital1 32% 39% 68% 61% 2Q25 Pro Forma Variable Fixed 6.07% 6.33% 2Q25 Pro Forma 352.1% 183.9% 2Q25 Pro Forma - ~168.2% $224.6 6% $846.1 24% $101.6 3%$476.3 14% $161.0 5%

  6. Slide 6: Projected Interest Rate Risk & Balance Sheet Management

    Projected Interest Rate Risk & Balance Sheet Management ▪ Accelerates optimization of the Company’s interest- earning assets – Reduces exposure to longer-duration assets – Enhances balance sheet flexibility – Provides resilience in varying economic / interest rate environments ▪ Moves interest rate

  7. Slide 7: First Internet

    First INTERNET

  8. Slide 8: Illustrative Pro Forma Balance Sheet

    Illustrative Pro Forma Balance Sheet 8 As Reported June 30, 2025 Single Tenant Lease Financing Sale Post-Sale Balance Sheet Deposits Off-Balance Sheet Pro Forma Balance Sheet Assets Cash and due from banks 9,261$ -$ 9,261$ -$ 9,261$ Interest-bearing deposits 437,100 825,926 1,263,026 (550,000) 713,0

  9. Slide 9: Reconciliation of Non-GAAP Financial Measures

    Reconciliation of Non-GAAP Financial Measures 9 Dollars in thousands, except for per share data 2Q25 Total equity - GAAP $390,239 Adjustments: Goodwill (4,687) Tangible common equity $385,552 Pro forma adjustments: Pre-tax loss on sale (43,470) Tax benefit at 23% tax rate $9,998 Pro forma tangible c

  10. Slide 10: Reconciliation of Non-GAAP Financial Measures

    Reconciliation of Non-GAAP Financial Measures 10 Dollars in thousands, except for per share data Total equity - GAAP $390,239 Adjustments: Goodwill (4,687) Tangible common equity $385,552 Pro forma adjustments: Pre-tax loss on sale (43,470) Tax benefit at 23% tax rate 9,998 Pro forma tangible common

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