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INDIANAPOLIS, IN April 24, 2006- First Internet Bank of Indiana (First IB) today announced net income of $522,753 for the quarter ended March 31, 2006. Net income decreased $153,959, or 23%, from the same quarter in the previous year. Management attributed the negative variance in net income to two factors: Legal expenses (included under “non-interest…
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First Internet Bank of Indiana (First IB) today announced net income of $493,588 for the quarter ended September 30, 2005, comparable to the results reported from the same quarter in the previous year. As of September 30, 2005, First IB held $319.5 million in deposits, a 2% increase over deposits as of September 30, 2004….
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First Internet Bank of Indiana (First IB) today announced net income of $517,689 for the quarter ended June 30, 2005 bringing the year-to-date period to a total net income of approximately $1.2 million. Net income increased $144,638, or 39%, from the same quarter in the previous year. The primary driver of the overall earnings increase…
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First Internet Bank of Indiana (First IB) today announced net income of $676,712 for the quarter ended March 31, 2005. Net income increased $135,551, or 25%, from the same quarter in the previous year. The primary driver of the overall earnings increase was an increase in net interest income, fueled by higher rates and considerable…
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First Internet Bank of Indiana (First IB) has become the latest financial institution to join the Indiana Community Business Credit Corporation. First IB is the first state-chartered FDIC insured institution to operate solely via the Internet. It has customers in all 50 states and reported holding $362 million in deposits as of December 31, an…
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First Internet Bank of Indiana (First IB) today announced net income of $1,829,359 for the year ended December 31, 2004, an increase of $1.4 million over the prior year. The 2004 results mark the Bank’s fourth consecutive year of profitability in its six years of operations. Total assets increased by $104.4 million (31%) over 2003…
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First Internet Bank of Indiana (First IB) today announced net income of $495,998 for the quarter ended September 30, 2004, up 200% from the same quarter in the previous year. “First IB has experienced profitable growth throughout 2004, Net Interest Income has increased each quarter and Non-Interest Expenses have been held to modest increases,” said…
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First Internet Bank of Indiana (First IB) today announced net income of $373,051 for the quarter ended June 30, 2004, down from the preceding quarter, but up over 350% from the same quarter in the previous year. The Bank’s loan portfolio grew by $71.4 million, or 40%, as compared to the same quarter in the…
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This week, First Internet Bank of Indiana (First IB) expanded its support for Quicken® online services by enabling transaction history downloads through Direct Connect sessions. With Direct Connect, a customer’s downloaded transactions are automatically matched with existing transactions and new ones are entered into the customer’s account register, enabling the customer to manage his personal…
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First Internet Bank of Indiana (First IB) today announced net income of $541,161 for the quarter ended March 31, 2004. Net income increased $424,735 or 365%, from the same quarter in the previous year and $436,172, or 415%, over the prior quarter. A slowdown in mortgage prepayments in the Bank’s loan and securities portfolio, combined…