First Internet Bancorp · NASDAQ:INBK
First Internet Bancorp — Q2 2026 Earnings Presentation
38 slides from First Internet Bancorp's earnings presentation, Jul 30, 2026
Slide 1: Investor Presentation
NASDAQ: INBK Investor Presentation July 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 6/30/26 institution to operate entirely online, reimagining traditional banking over 25 years ago $5.6B $3.8B • 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 06/30/26 Strategic Focus • Specialized areas of lending Construction & Investor CRE $ 1,097 • Scalable, nationwide platforms with growth potential Small Business Lending 436 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 • $2.5B in digital deposits BaaS / Fintech • Program sponsorship: $3.6B Total Fintech Deposits deposits, payments, $2.4B 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: Second Quarter 2026 Highlights
Second Quarter 2026 Highlights • Net income of $2.4 million, up significantly over 2Q25 Earnings • Diluted EPS of $0.27, up significantly over 2Q25 • Net interest income of $32.4 million and FTE NII of $33.6 million1,2, up 16% and 15%, respectively, over 2Q25 NII and NIM • Net interest margin and FT
Slide 12: Positive Credit Trends
Positive Credit Trends Nonperforming Loans $ in millions $61.6 $60.1 $58.5 Govt. Guaranteed • Total nonaccrual loans declined for the second $53.3 NPLs $15.5 consecutive quarter, and are down 14% from 1Q26 $13.6 $19.2 $43.5 $10.6 90D+PD & Accruing $0.9 $2.2 • Total delinquencies 30D+PD declined to 0
Slide 13: Credit Quality Overview
Credit Quality Overview Nonperforming Assets Net Charge-offs $63.7 $64.6 $61.3 NCOs NCOs/Average Loans $ in millions $55.2 $13.6 $15.5 $19.2 Govt. Guaranteed $ in millions $21.0 $45.5 $10.5 NPAs $16.9 $47.7 $48.2 $16.0 $15.8 $9.3 $44.7 $45.4 NPAs ex. Govt. $14.3 1.10% 1.12% 1.16% Guaranteed $36.2 0.
Slide 14: Adjusted Total Revenue and Pre-Provision, Net Revenue
Adjusted Total Revenue1 and Pre-Provision, Net Revenue1 Adjusted Total Revenue Adjusted Pre-Provision, Net Revenue 28% $ in millions $43.5 $43.1 $42.1 $41.1 Increase in Adjusted PPNR $33.5 vs. 2Q25 $18.1 $17.9 $18.1 23% $15.0 Increase in Adjusted Total $11.7 Revenue vs. 2Q25 2Q25 3Q25 4Q25 1Q26 2Q26
Slide 15: 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 $3,856 $4,171 1% Commercial & Industrial $22 $109 $45 $3,521 $3,840 $3,811 6% $22 $3,747 Construction & Investor CRE 12% $3,499 Si
Slide 16: Diversified Deposit Base
Diversified Deposit Base Total Deposits and Cost of IBDs Total Deposits Cost of IBDs $ in millions $4,933 $4,840 $4,831 Portfolio Composition $4,067 Consumer 5% $3,441 5% Small Business 4.24% 9% 3.83% 3.87% Fintech 37% 3.42% Commercial Public Funds 25% Brokered 1.38% 19% 2022 2023 2024 2025 2Q26 Not
Slide 17: 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 $33.6 $32.8 6.18% 6.39% 6.36% 6.34% 6.07% $31.5 $31.5 3.92% 3.87% 3.68% $29.1 3
Slide 18: Noninterest Income Trends
Noninterest Income Trends Adjusted Noninterest Income1 SBA gain on sale Net servicing revenue Fintech Other Average SBA net premium Key Highlights $ in millions $13.2 $1.1 $11.8 $11.5 $0.9 • SBA 7(a) loan sale volume $0.7 $1.2 $0.9 impacted by seasonally $10.6 $1.1 lower originations $1.5 $8.7 $0.9
Slide 19: Noninterest Expense Trends
Noninterest Expense Trends Noninterest Expense Noninterest Expense NIE to Average Assets $ in millions Key Highlights $26.1 $25.5 $25.0 $24.2 • Increase in expenses from $21.8 1Q26 due primarily to higher compensation, consulting and other expense • Low NIE / average assets highlights efficient busi
Slide 20: Capital and Sources of Liquidity
Capital and Sources of Liquidity Liquidity Sources Tangible Book Value Per Share1 $ in millions $43.77 $15 $18 $39.74 $41.43 $40.87 $41.09 $38.51 $33.29 $411 $605 $4,334 2020 2021 2022 2023 2024 2025 2Q26 $912 Capital Ratios as of June 30, 20262 Company Bank $2,373 Total Shareholder’s equity to Asse
Slide 21: 2026 Outlook
2026 Outlook EPS • Diluted earnings per share of $2.35 to $2.45 • Loan growth in the range of 4% to 6%, driven by solid pipelines across our commercial lending verticals Loan Growth • Outlook reflects early payoffs in commercial lending areas and lower retention of small business lending balances as
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 20% Use 16% Real Estate Industrial Commercial 45% 7% 42% Warehouse 38% 6% Construction/ Hospitality Development 6% 15% 60% 9% Reside
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 $44 18% Retained 23% $436 Balance 32% Construction 45% 14% $1,667 Servicing Portfolio Retail Trade 20% Held for Sale 9% 10% $1,187 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 Services C&I - Term Loans 19% 13% Manufacturing 29% 37% 10% C&I - Lines of Construction Credit 8% 20% 61% Health Care and 12% 61% 4% 4% Social Assistance Owner 5% 8% 9% Real Es
Slide 26: Public Finance
Public Finance Portfolio Mix by Repayment Borrower Mix by Credit Rating Portfolio Mix by State Source IN General Obligation 16% OH 29% 31% Lease Rental Revenue 37% 32% 4% OK 4% Essential Use 5% IA Equipment Loans 6% 5% 66% Water & Sewer 12% MO Revenue 10% 12% 28% 1% Private Higher 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 6% Auto Spa FL 6% Quick Serve 26% Whistle Express 18% 5% Restaurants Car Wash TX 5% Convenience 43% 7-Eleven Stores/Filling Stations 4% NC 50% 14% Medica
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 9% 35% 740-799 6% Recreational Vehicles 4% 33% 63% 4% 57% 700-739 49% Other Consumer 670-699 TX CA FL NC AZ Other • $442 million of combined balances as of Ju
Slide 29: Franchise Finance
Franchise Finance Portfolio by Borrower Use Portfolio Mix by State Portfolio Mix by Brand Limited-Service Urban Air Adventure Restaurants Park 12% 8% My Salon Suite Beauty Salons 18% 7% 11% 7% 39% Scooter's Coffee Indoor Recreation 7% 5% 15% 60% 5% 5% Goldfish Swim School 5% 68% Snacks and Nonalcoho
Slide 30: Residential Mortgage
Residential Mortgage Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Region 1% 2% 1% 2% 4% 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 94% 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 44% 22% Veterinarians Owner Occupied CRE 11% 73% 4%5% 5% 86% Other Project CA TX FL NY AZ Other • $121 million of balances as of June 30, 2026 • 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 2Q26 Total equity - GAAP $380,338 $364,974 $362,795 $384,063 $359,767 $363,547 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 2Q25 3Q25 4Q25 1Q26 2Q26 Total equity - GAAP $390,239 $352,168 $359,767 $360,954 $363,547 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $385,552 $347,481 $355,08
Slide 34: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 2Q25 3Q25 4Q25 1Q26 2Q26 Total interest income $80,886 $84,388 $78,054 $75,810 $76,636 Adjustments: Fully-taxable equivalent adjustments 1 1,157 1,158 1,161 1,160 1,142 Total interest income - FTE $82,043 $85,546 $79,215 $76,970 $77,
Slide 35: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 2Q25 3Q25 4Q25 1Q26 2Q26 Total revenue - GAAP $33,547 $5,705 $41,697 $43,116 $41,124 Adjustments: Loss on sale of loans - 37,823 411 - - Adjusted total revenue $33,547 $43,528 $42,108 $43,116 $41,124 Net income - GAAP $193 ($41,593)
Slide 36: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 2Q25 3Q25 4Q25 1Q26 2Q26 Income tax (benefit) provision - GAAP ($2,054) ($12,950) $213 ($725) ($780) 1 Adjustments: Loss on sale of loans - 8,699 86 - - Adjusted income tax (benefit) provision ($2,054) ($4,251) $299 ($725) ($780) Net
Slide 37: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 2Q26 Tangible common equity $358,860 Adjustments: Accumulated other comprehensive loss 21,117 Adjusted tangible common equity $379,977 Tangible assets $5,551,688 Adjustments: Cash in excess of $300 million (110,968) Adjusted tangible
Slide 38: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 2Q25 3Q25 4Q25 1Q26 2Q26 Nonperforming loans to total loans 1.00% 1.47% 1.56% 1.63% 1.58% Adjustments: Fully-guaranteed balances (0.22%) (0.29%) (0.36%) (0.41%) (0.51%) Adjusted nonperforming loans to total loans 0.78% 1.18% 1.20% 1.22% 1.07% Allowance f
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