Slide 1: Investor Presentation
NASDAQ: INBK Investor Presentation April 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 3/31/26 institution to operate entirely online, reimagining traditional banking over 25 years ago $5.7B $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 03/31/26 Strategic Focus • Specialized areas of lending Construction & Investor CRE $ 1,049 • Scalable, nationwide platforms with growth potential Small Business Lending 434 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 • $2.7B in digital deposits BaaS / Fintech • Program sponsorship: $2.6B Total Fintech Deposits deposits, payments, $1.5B 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: First Quarter 2026 Highlights
First Quarter 2026 Highlights • Net income of $2.5 million, up 166% over 1Q25 Earnings • Diluted EPS of $0.29, up 164% over 1Q25 • Net interest income of $31.6 million and FTE NII of $32.8 million1,2, up 26% and 25%, respectively, over 1Q25 NII and NIM • Net interest margin and FTE NIM of 2.36% and
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 51% $ in millions $43.5 $43.1 $42.1 Increase in $35.5 Adjusted PPNR $33.5 vs. 1Q25 $18.1 $17.9 $18.1 21% Increase in $12.0 Adjusted Total $11.7 Revenue vs. 1Q25 1Q25 2Q25 3Q25 4Q25 1Q26
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 $3,831 $4,171 1% Commercial & Industrial $22 $109 $55 $3,521 $3,840 $3,776 6% $22 $3,747 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 $ in millions $4,933 $4,982 $4,840 Portfolio Composition $4,067 Consumer 4% $3,441 5% Small Business 4.24% 10% 3.83% 3.87% Fintech 40% 3.45% Commercial 22% Public Funds Brokered 1.38% 19% 2022 2023 2024 2025 1Q26 No
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 $32.8 5.99% 6.07% 6.18% 6.39% 6.36% $ in millions $31.5 $31.5 $29.1 $26.3 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 Key Highlights $ in millions $13.2 $1.1 $11.8 $11.5 $0.9 • SBA 7(a) loan sale volume $10.4 $0.7 $1.2 $0.9 impacted by seasonally $0.5 $10.6 $1.1 lower originations $0.5
Slide 17: Noninterest Expense Trends
Noninterest Expense Trends Noninterest Expense Noninterest Expense NIE to Average Assets $25.5 $ in millions Key Highlights $25.0 $24.2 • Increase in expenses from 4Q25 due primarily to $23.6 employee benefit resets • Low NIE / average assets highlights efficient business model $21.8 • YoY expenses
Slide 18: Credit Quality Overview
Credit Quality Overview Nonperforming Assets Net Charge-offs $63.7 $61.3 NCOs NCOs/Average Loans $ in millions $55.2 $15.5 $ in millions $13.6 Govt. Guaranteed $21.0 $45.5 $10.5 NPAs $47.7 $48.2 $16.0 $15.8 $35.9 $9.3 $44.7 NPAs ex. Govt. $14.3 1.10% 1.12% Guaranteed $5.2 $36.2 $9.7 0.98% $30.7 NPAs
Slide 19: 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 $40.87 $38.51 $33.29 $650 $602 $3,872 2020 2021 2022 2023 2024 2025 1Q26 $1,040 Capital Ratios as of March 31, 20262 $1,542 Company Bank Total Shareholder’s equity to A
Slide 20: 2026 Outlook
2026 Outlook • The Company is broadly maintaining its 2026 guidance. However, management acknowledges the heightened macroeconomic uncertainty, including volatile energy prices and other geopolitical developments, which could have negative impacts. • Regarding loan growth specifically, while commerc
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 2% Investor Multifamily/Mixed Commercial 20% Use 16% Real Estate Industrial Commercial 43% 8% 39% Warehouse 41% 6% Construction/ Hospitality Development 6% 57% 17% Residenti
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 $53 18% Retained 22% $434 Balance 33% Construction 46% 14% $1,657 Servicing Portfolio Retail Trade 20% Held for Sale 9% 10% $1,170 Manufacturing 5% 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 18% 14% Loans Services 28% 34% C&I - Lines of 12% Construction Credit 24% 58% 58% 7% Real Estate and 5% 16% Rental and Leasing 5% Owner 8% 4% Health Ca
Slide 25: Public Finance
Public Finance Portfolio Mix by Repayment Borrower Mix by Credit Rating Portfolio Mix by State Source IN General Obligation 17% OK 27% Lease Rental Revenue 32% 34% 35% 4% IA 4% Essential Use 5% MO Equipment Loans 7% 64% 6% Water & Sewer 12% OH 10% 1% Revenue 12% 2% 28% Private Higher 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 7% Auto Spa FL 6% Quick Serve Whistle Express 18% 31% 5% Car Wash TX Restaurants 40% 4% Medical Main Street 4% NC Auto 50% 15% Convenience KinderCare Sto
Slide 27: Specialty Consumer
Specialty Consumer Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Credit Score at Origination 14% 2% 800-850 12% 10% Trailers 10% 37% 740-799 6% Recreational Vehicles 33% 62% 4% 57% 4% 700-739 49% Other Consumer 670-699 TX CA FL NC AZ Other • $431 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 12% 8% My Salon Suite Beauty Salons 18% 7% 12% 6% 38% Scooter's Coffee Indoor Recreation 6% 7% 15% 60% 5% 5% 68% Goldfish Swim School 4% Snacks and Nonalcoho
Slide 29: Residential Mortgage
Residential Mortgage Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Region 1% 2% 1% 3% 1% 2% Single Family 2% 10% Midwest 4% Residential 5% 12% West Coast Home Equity – LOC 15% Northeast/Mid-Atl. Home Equity – Closed 73% End 74% Southeast SFR Construction to 95% Permanent Southwest I
Slide 30: Healthcare Finance
Healthcare Finance Portfolio by Loan Type Portfolio Mix by State Portfolio Mix by Borrower 3% Dentists Practice Refi or 5% 11% 32% Acquisition 43% 22% Veterinarians Owner Occupied CRE 11% 73% 4%5% 5% 86% Other Project CA TX FL AZ NY Other • $131 million of balances as of March 31, 2026 • Strong hist
Slide 31: 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 1Q26 Total equity - GAAP $380,338 $364,974 $362,795 $384,063 $359,767 $360,954 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $37
Slide 32: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands, except share and per share data 1Q25 2Q25 3Q25 4Q25 1Q26 Total equity - GAAP $387,747 $390,239 $352,168 $359,767 $360,954 Adjustments: Goodwill (4,687) (4,687) (4,687) (4,687) (4,687) Tangible common equity $383,060 $385,552 $347,48
Slide 33: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 1Q25 2Q25 3Q25 4Q25 1Q26 Total interest income $76,829 $80,886 $84,388 $78,054 $75,810 Adjustments: Fully-taxable equivalent adjustments 1 1,169 1,157 1,158 1,161 1,160 Total interest income - FTE $77,998 $82,043 $85,546 $79,215 $76,
Slide 34: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 1Q25 2Q25 3Q25 4Q25 1Q26 Total revenue - GAAP $35,523 $33,547 $5,705 $41,697 $43,116 Adjustments: Loss on sale of loans - - 37,823 411 - Adjusted total revenue $35,523 $33,547 $43,528 $42,108 $43,116 Net income - GAAP $943 $193 ($41,
Slide 35: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 1Q25 2Q25 3Q25 4Q25 1Q26 Income tax provision (benefit) - GAAP ($909) ($2,054) ($12,950) $213 ($725) Adjustments:1 Loss on sale of loans - - 8,699 86 - Adjusted income tax provision (benefit) ($909) ($2,054) ($4,251) $299 ($725) Net
Slide 36: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Dollars in thousands 1Q26 Tangible common equity $356,267 Adjustments: Accumulated other comprehensive loss 21,305 Adjusted tangible common equity $377,572 Tangible assets $5,707,001 Adjustments: Cash in excess of $300 million (301,805) Adjusted tangible
Slide 37: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 1Q25 2Q25 3Q25 4Q25 1Q26 Nonperforming loans to total loans 0.80% 1.00% 1.47% 1.56% 1.63% Adjustments: Fully-guaranteed balances (0.12%) (0.22%) (0.29%) (0.36%) (0.41%) Adjusted nonperforming loans to total loans 0.68% 0.78% 1.18% 1.20% 1.22% Allowance f