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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…
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First Internet Bank of Indiana (First IB) today announced net income of $467,257 for the year ended December 31, 2003, representing its third consecutive year of profitability in the Bank’s five years of operation. First IB management highlighted key factors relevant to Bank earnings for the year: Non-interest income more than doubled over the prior…
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First Internet Bank of Indiana (First IB) today announced next-day availability of cleared check images through its online banking site. In most cases, customers may now view an image of a check, both front and back sides, the day after it clears the account. A pioneer in online document delivery, First IB began offering online…
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First Internet Bank of Indiana (First IB) today announced net income of $165,484 for the quarter ended September 30, 2003. As in past quarters, net interest income represented the majority of the Bank’s revenue. Net interest margins for the Bank have declined throughout the year, prompting Bank management to look to new ways to offset…