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First Internet Bank of Indiana (First IB) today announced net income of $80,358 for the quarter ended June 30, 2003. Narrow net interest margins resulting from declining interest rates continued to affect earnings. Over the past several quarters, interest rates paid on deposits and the Bank’s overall cost of funds has decreased, but not as…
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First Internet Bank of Indiana (First IB) today announced net income of $116,426 for the quarter ended March 31, 2003. Net income before taxes decreased $357,043 from the same quarter in the previous year. Bank management attributed a portion of the decrease in earnings to narrower net interest margins. In response to declining interest rates,…
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First Internet Bank of Indiana (First IB) today announced net income of $2,446,197 for the year ended December 31, 2002, representing its second consecutive year of profitability and an 18% increase over the prior year. Total assets increased by $44.8 million (18%) over 2001 levels. Net interest income increased by $666,471 (11%) for the year,…
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David Becker, Chief Executive Officer and Chairman of the Board of First Internet Bank of Indiana (First IB), will serve as 2003 Chairman of TechPoint, an organization designed to serve Indiana’s technology-related industries. He will assume his responsibilities while remaining active in his role at First IB. The result of a January 1, 2003 merger…
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First Internet Bank of Indiana today announced net income of $936,579 for the quarter ended September 30, 2002, representing its seventh consecutive quarter of profitability. Net income before taxes for the quarter was $223,420, down 36% from $349,723 for the same quarter in the prior year. Net income before taxes for the quarter ended September…
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First Internet Bank of Indiana (https://www.firstib.com/) today announced net income of $470,529 for the quarter ended June 30, 2002, representing its sixth consecutive quarter of profitability. Operating income – interest and non-interest income less non-interest expense and a provision for loan and lease losses – for the quarter was $722,999, up 36% from $530,285 for…
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First Internet Bank of Indiana today announced record net income of $798,735 for the quarter ended March 31, 2002. This is the fifth consecutive quarter of profitability First IB has reported Net income has increased fourfold over the same quarter in the previous year and includes a tax benefit of $268,450. Net income for the…
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First Internet Bank of Indiana (https://www.firstib.com/) has retained its ranking as the best bank operating solely via the Internet and the #2 online bank overall in the semi-annual scorecard published by Gomez, Inc., the Internet quality measurement firm. First IB has maintained the same high rankings for three consecutive evaluations published over the last year….
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First Internet Bank of Indiana today announced its fourth consecutive profitable quarter and the first full year of profitability in its three-year history. First IB attributed the earnings improvement to factors including disciplined expense management, more efficient asset allocation, and the success of efforts to attract core deposits capable of producing transactional revenues. First IB’s…
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First Internet Bank of Indiana today announced its third consecutive quarter of profitability. First IB’s earnings reflect aggressive initiatives to increase core deposits and maintain the quality and liquidity of the balance sheet. First IB’s net income for the first nine months of 2001 was $1,290,585, compared to a net loss of $3,744,929 in the…